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AED708mn Sheikh Khalifa bin Zayed City inaugurated in Kabul

Abu Dhabi / Emirates Business HE Mohammad Ashraf Ghani, President of Afghanistan, inaugurated the Abu Dhabi Fund for Development (ADFD) financed Sheikh Khalifa bin Zayed City Housing Complex in Afghanistan. Located in the Qasaba district of Afghanistan’s capital Kabul, ADFD contributed an estimated AED708 million to the social housing development project. HE Mohammed Saif Al Suwaidi, Director General of ADFD, ...

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UAE-India strategic partnership to focus on skills development, labour

Dubai / WAM The governments of the UAE and India on Monday announced the launch of a new strategic partnership focused on skills development and mutual recognition of qualifications. The partnership was launched at a forum in Dubai, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), supported by the UAE’s Ministry of Human Resources and Emiratisation ...

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Ukraine leads agenda as G-7 ministers gather sans Pompeo

Bloomberg The latest Group of Seven (G7) meetings have begun with a focus on Russia’s actions in Ukraine, an issue Canada’s foreign minister knows well. Chrystia Freeland, a lawmaker of Ukrainian descent who is banned from Russia, kicked off the meeting of foreign ministers by hosting them for brunch — waffles, eggs, a cake, served by her children in her ...

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Ambani’s $38bn startup packs six-month sales into a quarter

Bloomberg A smartphone in India cost more than $200 just two years ago. Now you can get a decent phone for nothing but a refundable deposit of $23. Data packages are cheap, and a startup company even throws in free voice calls for life. For this, consumers can thank Mukesh Ambani, a 61-year-old petrochemicals titan who is the country’s richest ...

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China’s war on pollution fuels state takeover of heavy industry

Bloomberg President Xi Jinping’s big push to curb pollution and excess capacity in steel and other industries is also consolidating his government’s control over them. Just last year, the state’s share of steel capacity increased to 67 percent from 60 percent while aluminum smelting saw about an equal increase, J Capital Research Ltd. estimates. In coal, which began consolidating years ...

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AT&T, Verizon probe heralds new era of greater telecom scrutiny

Bloomberg The Department of Justice opened another front in its scrutiny of the US telecom industry, signaling it’s set on maintaining a deeply competitive environment in a market where four major carriers are jostling for new subscribers. Antitrust officials are investigating whether AT&T Inc. and Verizon Communications Inc. colluded to make it tougher for consumers to change wireless carriers, people ...

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Philips eyes acquisitions to sharpen health focus

Bloomberg Royal Philips NV Chief Executive Officer Frans van Houten said the Dutch manufacturer of medical equipment remains on the hunt for companies to buy as it hones focus on the health-care sector. “We are interested to do bolt-on acquisitions,” he said in an interview on Monday with Bloomberg TV after publishing quarterly earnings. “Deals done last year were bolt-on, ...

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Capita seeks turnaround with cutbacks, disposals

Bloomberg British outsourcing firm Capita Plc’s shares pared some of this year’s heavy losses, rising as much as 14 percent in London, after the company announced a restructuring aimed at saving hundreds of millions of pounds. Capita, which provides customer-service functions for the likes of Marks & Spencer Group Plc and is responsible for collecting BBC license fees, is targeting ...

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Dubai sees record 15.8 million international overnight visitors

Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) on Sunday released its Annual Visitor Report 2017, providing an in-depth cross-sector analysis of the emirate’s tourism performance last year, as well as an overview of future activities, campaigns and strategies as Dubai progresses towards its goal of welcoming 20 million visitors per year by 2020. The ...

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