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Hospital operator Burjeel aims to raise up to $368m from IPO

Abu Dhabi-based Burjeel Holdings set a price range of AED 2 to AED 2.45 ($0.5446 to $0.6671) a share for its initial public offering (IPO) that opened for subscription on Friday, valuing the hospital operator at $3.3 billion at the top end. The selling shareholder expects to sell more than 350 million shares, or seven […]

India fans in the stands of Dubai International Stadium, ahead of their cricket team's Asian Cup match against Pakistan on September 4

India reaps early benefits from its trade deal with UAE

India’s non-oil exports to the UAE have recorded double-digit growth since the two nations signed a trade deal earlier this year. New Delhi’s Ministry of Commerce reported that exports to the UAE, excluding petroleum products, grew to $5.92 billion in June-August, from $5.17 billion during June-August 2021 – an increase of 14 percent. India’s global […]

Interior Design, Indoors, Auditorium

With flowers and a gun salute, Japan bids farewell to Shinzo Abe

With flowers, prayers and a 19-gun salute, Japan honoured slain former Prime Minister Shinzo Abe on Tuesday at the first state funeral for a former premier in 55 years – a ceremony that has become as divisive as he was in life. The ceremony started at 2:00 p.m. (0500 GMT), with Abe’s ashes carried into […]

Samples of rice and lentils for sale at a wholesale market in Delhi

Tech startup aims to spice up India’s agriculture trade with GCC

Indian startup Ninjacart has launched Ninja Global, a new digital platform for agricultural export-import businesses in the UAE and other countries in the Gulf. Ninjacart operates in over 150 markets across agri-commodities, was valued at almost $1bn this year, and is backed by retail giant Walmart and India’s Tiger Global among others. Its Ninja Global is […]

McDonald’s hikes prices in Japan on higher input costs, weaker yen

Japan’s McDonald’s fast food restaurants will raise prices on about 60 percent of its offerings to customers, fuelled by rising input costs and exchange-rate fluctuations, the company said on Monday. It marks the company’s second set of price increases this year as Japan grapples with inflationary pressures and a slide in the yen to a […]

Uzbekistan halts use of Russia’s Mir payment cards

Uzbekistan’s UZCARD system has suspended the processing of payments via Mir cards issued by Bank of Russia’s National Card Payment System (NSPK), the chief executive of which has been targeted by US sanctions. The move by UZCARD was warranted by the need “to carry out the necessary technical procedures”, it said in a statement on […]

Abdulla Kalban, EGA’s Managing Director, right, welcomes Zhang Yiming, the Chinese ambassador to the company’s Jebel Ali site in Dubai

200 billion reasons why the Gulf is China’s hottest trading partner

When Deng Xiaoping, the former communist leader of China, started his modernisation drive in the late 20th century, he looked to the Middle East as the only place that could provide the enormous quantities of oil and gas that his country required to become a global powerhouse.  By the end of this decade, less than […]

IATA warns demand may weaken if China stays shut next year

The strength of the overall recovery in global airline passenger demand will be impacted if China continues to enforce tight border restrictions next year, the head of airline body IATA said on Wednesday. International Air Transport Association Director General Willie Walsh told a conference in Doha that China’s zero-COVID policy had “devastated” Hong Kong, and […]

US Speaker Nancy Pelosi in Yerevan, Armenia, on September 18

Turkey’s VP rebukes Pelosi for ‘biased’ remarks in Armenia

Turkey’s vice president Fuat Oktay has branded Nancy Pelosi’s speech on clashes between Armenia and Azerbaijan “biased”, suggesting that her comments “sabotage diplomacy efforts”. The Speaker of the US House of Representatives visited Armenia this weekend, in an unprecedented show of American support for the country, which has been locked in conflict with its neighbour […]

Israel’s El Al will begin Tel Aviv to Tokyo flights in March

El Al Israel Airlines will start direct flights from Tel Aviv to Tokyo next March, it said on Monday – two years after the launch was delayed because of the Covid-19 pandemic. Israel’s flag carrier has been looking to expand eastbound flights since its second-quarter results showed a rebound from the slump in travel during […]

Altibbi plans healthcare expansion in North Africa and Pakistan

Altibbi, the largest AI-based digital health provider in the Arab world, is looking to expand into North Africa and Pakistan after “turbocharging” growth in Saudi Arabia and Egypt, its CEO has told AGBI. Jalill Allabadi said the proceeds from Altibbi’s latest funding round of $44 million – the largest ever single financing round for a […]

UAE oil imports help push Japan to record trade deficit in August

Japan ran its biggest single-month trade deficit on record in August as imports surged on high energy costs and a slump in the yen, exposing the economy’s vulnerability to external price pressures. The growing trade deficit highlights the fragile nature of Japan’s economic recovery which has so far largely remained intact despite a high price […]

Person, Human, Military

South Korea reins in stimulus with first spending cut in 13 years

South Korea said on Tuesday it would cut annual government spending for the first time in more than a decade next year, as it strives to cut back on pandemic-era stimulus and help the central bank temper inflationary pressures. Unveiling the first budget proposal under right-leaning President Yoon Suk-yeol, the finance ministry said government expenditure […]

Person, Human, Shoe

China to promote fiscal, monetary policies to support labour market

China will focus on creating jobs and promote fiscal, monetary and industrial policies to stabilise its labour market, Li Zhong, Vice Minister of the Ministry of Human Resources and Social Security, said on Thursday. As the Chinese economy struggles to recover from a COVID-induced slump, the youth unemployment rate has surged to a record high […]

Person, Human, Clothing

Qatar Investment Authority aims to invest $3bn in Pakistan

The Qatar Investment Authority (QIA) aims to invest $3 billion in Pakistan, the Qatari ruler’s office said on Wednesday, lending support to the South Asian nation’s cash-strapped economy. Pakistan is in economic turmoil and faces a balance of payments crisis, with foreign reserves having dropped as low as $7.8 billion, barely enough for more than […]

Japanese manufacturing grows at slowest pace in 19 months

Japanese manufacturing growth slowed in August after declines in output and new orders, as businesses grapple with persistent rises in raw material and energy costs and weakening global demand. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) recorded its most sluggish performance in 19 months, falling to a seasonally adjusted 51.0 in […]

To get ahead, plastics producers need to be running in circles

The volume of plastics produced globally every year has soared over the past half century, from 15 million tonnes in 1964 to more than 300 million tonnes today. This figure is forecast to double again over the next two decades and nearly quadruple by 2050. But synthetic polymers have one major drawback: they generally take […]

Chinese censors change ending of latest ‘Minions’ movie

Censors have altered the ending of the animated film “Minions: The Rise of Gru” for its domestic release in China, social media users across the country noticed over the weekend. The editing is yet another example of Chinese authorities editing a Hollywood film to make sure on-screen criminals are punished – to the amusement or […]

India’s headline inflation may ease below 6% by March

India’s headline retail inflation may ease below six percent by the fourth quarter of this financial year, bringing an end to the current cycle of rate hikes, analysts said over the weekend. Following the release of minutes from the central bank’s monetary policy committee on Friday, analysts said the Reserve Bank of India (RBI) may […]