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  Dubai / Emirates Business The World Green Economy Summit (WGES) 2016, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is set to open tomday at Dubai International Convention and Exhibitions Centre in New Za’abeel Hall 6. The 2016 Summit marks the third ...

  Bloomberg In a testament to the rising consumer potential of the world’s No. 6 emerging market, Indonesia’s President Joko Widodo has tapped for guidance the king of Chinese e-commerce: Jack Ma. Jokowi, as Indonesia’s leader is known, further intensified the buzz surrounding his country’s $2 billion e-commerce market with a stop at Jakarta’s sprawling Mangga Dua bazaar last month, ...

  Bloomberg Indian Oil Corp. is scaling up an expansion plan for its biggest refinery in northern India at a cost of 150 billion rupees ($2.3 billion), as it races to meet demand in one of the world’s fastest-growing crude consumers. India’s top refiner will expand its Panipat refinery to 25 million metric tons a year (500,000 barrels a day) ...

  Beijing / AFP China’s dependence on debt is growing at a “dangerous pace” and it must act to head off a brewing crisis, the IMF warned on Tuesday. The International Monetary Fund also said the country’s leaders should kick on with vital reforms or risk a painful correction in the world’s number two economy, adding that Beijing’s “unsustainably high” ...

  Seoul / AFP The chairman of South Korea’s Hanjin Group on Tuesday apologised for the “cargo chaos” caused by the collapse of its shipping unit, but insisted the company could, and should, be salvaged. Hanjin Shipping, the world’s seventh largest shipping company, is seeking bankruptcy protection at home and in the US after creditors rejected its latest plan to ...

  Tokyo/ AFP Business confidence among Japan’s largest manufacturers is at its lowest since Tokyo introduced measures to kick-start the struggling economy more than three years ago, a central bank survey showed in a report. The Bank of Japan’s closely watched Tankan report comes after data showing weak growth in the second quarter and as soft inflation and spending figures ...

  The key difficulty facing the U.K. as it leaves the European Union is easy to articulate: how to curb the free movement of people while maintaining vital trading relationships with its peers. It’s increasingly clear that two premises underpin the government’s position on the trade issue: first, that the other EU 27 members will realize there’s no economic benefit ...

  Within days of taking office, British Prime Minister Theresa May ruled out holding an early general election to seek a mandate of her own. But the strength of her Conservative Party’s polling — with leads of between six and 15 points in surveys conducted during September — has resulted in continued speculation. Indeed opposition parties have been preparing for ...

  To widespread dismay, Colombians voted on Sunday to reject an agreement that might have ended Latin America’s longest-running armed conflict — a decades-long insurgency that has taken more than 220,000 lives, displaced more than 10 percent of the country’s people, and inflicted enormous economic damage. The upset underlines the risks of government by referendum — as if further proof ...

  Despite the market headwinds, Islamic economy is gaining traction. And recent studies substantiate the fact that the segment offers hope to achieve economic stability. Strong retail demand and proactive regulations have boosted the Islamic banking sector. According to rating agency Moody’s, the growth of Islamic banking is outpacing conventional banking. Another study said the compound annual growth rate or ...