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DUBAI / WAM DP World has invested more than $10 billion (AED37.3 billion) in the global logistics sector since 2012, making it one of the top five overseas investors in this period, according to the latest foreign direct investment (FDI) data released by leading industry consultants. The FT’s FDI Intelligence recently published its top five list for 2022, which ranks ...

DUBAI / WAM Mariam bint Mohammed Almheiri, the Minister of Climate Change and Environment, emphasised the importance of collaboration, data sharing and investment in achieving global solutions for promoting water sustainability in an interactive dialogue and side sessions at the United Nations in New York. The UN 2023 Water Conference brought together global leaders and experts to identify innovative solutions ...

BLOOMBERG President Vladimir Putin said Russia is preparing to station tactical nuclear weapons in neighbouring Belarus, escalating a confrontation with the US and its allies over the war in Ukraine. Moscow isn’t handing control of the weapons to Belarus, and won’t be in breach of its non-proliferation obligations under an agreement with Belarusian President Alexander Lukashenko, Putin said in comments ...

BLOOMBERG Indian opposition leader Rahul Gandhi said he will keep questioning Prime Minister Narendra Modi’s close ties with tycoon Gautam Adani even after being disqualified as a member of parliament. “I am here defending the democratic voice of the Indian people. I will continue to do that,” Gandhi said at a press conference in New Delhi. “I have been disqualified ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of the Dubai Electricity and Water Authority (Dewa), welcomed Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure (MoEI), at Dewa’s head office. This is part of a series of mutual visits to enhance cooperation between government organisations in the UAE. The meeting ...

SHARJAH / GULF TIME Expo Centre Sharjah has announced it is all set to kick off the 40th edition of “Ramadan Nights 2023,” a highly anticipated commercial and marketing event in the emirate of Sharjah. Organised by the centre and supported by the Sharjah Chamber of Commerce and Industry (SCCI), the event will run from April 5 to 21, featuring ...

SHARJAH / WAM With its annual membership packages, the House of Wisdom (HoW) created a new opportunity for the UAE community to read, play, work and be entertained throughout the year, enjoying uninterrupted access to world-class sources of knowledge and spaces to bring their imaginations to life. Members will have access to the entire collection of HoW’s world-class physical and ...

DUBAI / IBRAHIM ELDESOUKIE Foodco National Foodstuff, one of the leading local food companies, has won the prestigious “Product of the Year” award in two categories in the United Arab Emirates (UAE) for 2023. The company’s brand Shehrazade won the award for the best rice product for the third time in a row, while Virginia — Tuna Salad won the ...

BLOOMBERG Americanas SA, the embattled Brazilian retailer, proposed a plan to restructure its 42.3 billion real ($8.1 billion) debt load some two months after obtaining bankruptcy protection that includes losses for unsecured creditors, a capital injection and asset sales. The plan, released in a securities filing, foresees a capital injection of 10 billion reais and potential asset sales including its ...

BLOOMBERG Cathay Pacific Airways is in talks with aircraft lessors as it seeks to source as many as 50 of Airbus SE’s A320neo-type aircraft, people familiar with the discussions said, with Hong Kong’s main carrier aiming to ramp up and potentially expand following the scrapping of Covid curbs. Given Airbus’s order book that stretches out several years, Cathay and its ...