Singapore: Singapore’s Hyflux Ltd., the water and power company battling for survival, said it is in talks with Middle Eastern utility Utico FZC about securing S$400 million (Dh1 billion or $294 million) of funds, disclosing the identity of the potential investor after receiving a non-binding letter of intent. Hyflux’s legal and financial advisers are in […]
Mumbai. The last stronghold in embattled tycoon Anil Ambani’s phone carrier-to-power empire is also developing fault lines. Reliance Capital Ltd, his financial services business that almost doubled its profit in five years, had largely remained insulated from the distress plaguing the wider conglomerate. Now, the company that controls India’s fifth-biggest mutual fund, is racing to […]
Cairo: Egyptian telecoms company Etisalat Misr aims to invest heavily in modernising its network this year and book a higher share of revenues from internet services as it works to offset the impact of a fall in its subscriber base, its CEO said. The firm’s parent company, UAE-based Etisalat, is targeting double-digit revenue growth for […]
Committee will meet at the Abu Dhabi Judicial Department after Maghrib prayer.
WASHINGTON US job growth surged in April and the unemployment rate dropped to a more than 49-year low of 3.6 per cent, pointing to sustained strength in economic activity even as last year’s massive fiscal stimulus fades. The Labor Department’s closely watched monthly employment report on Friday, however, showed steady wage gains last month, consistent […]
As per government policy, UAE follows Saudi Arabia’s announcement regarding the moon-sighting.
Department of Health ordered the hospital’s closure for a period of one month.
Washington: Turkey is expecting the United States to not implement a decision to terminate the country’s preferential trade treatment under a programme that allowed some exports to enter the United States duty free, the Turkish embassy in Washington said in a statement on Friday. The US Trade Representative (USTR) in early March said Turkey was […]
Paris: Air France-KLM said on Friday its losses deepened in the first quarter of the year under the pressure of higher fuel costs and competition, although the group managed to boost passenger numbers. The net loss of 320 million euros ($357 million) was worse than the 269-million-euro loss it suffered in the January-March period last […]
Indian officials are trying to find out if there are any casualties from Cyclone Fani, after one of the biggest storms More…