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Asia-pacific

UAE’s Abraaj and UK’s CDC Invest $17.5m In India’s Rainbow Hospitals

Rainbow Hospitals, a specialised maternity and paediatric healthcare chain, is based in Hyderabad, India.

China Completes Construction On World’s Second Tallest Tower

Shanghai Tower will reach up to 632 metres high, around 200 metres shorter than Dubai’s Burj Khalifa.

Etihad Says Jet Deal Deadline Extended Until Aug End

The Abu Dhabi carrier is awaiting Indian regulatory approval to acquire a $379 million stake in Jet Airways.

Jet Wins Key Approval For Etihad Deal, With Conditions

India’s foreign investment regulator gave conditional approval to the $379 million deal.

China’s Sky City Not An Immediate Threat To Burj Khalifa

Sky City, China’s most ambitious development, has faced criticism over its nine-month deadline.

UAE’s ADNOC, ADGAS Offer Rare Spot Cargoes

The offer came just days after ADGAS, partly owned by ADNOC, offered 25,000 tonnes of naphtha for loading from Das Island.

QE2 To Become Luxury Hotel In Asia

Dubai World’s investment arm Istithmar bought the vessel from Cunard for $100 million back in 2007.

India’s BSE Launches Futures Trading On Dubai Bourse

Under an agreement with Indian bourse BSE derivatives exchange DGCX started trading futures for the S&P BSE SENSEX.

Dubai’s ENOC ‘Investigating’ Sri Lanka Diesel Cargo Quality

Sri Lanka returned a 40,000-tonnes diesel cargo shipment from ENOC on Thursday saying it was “not up to the required specifications”.

Rolls-Royce “Clearly Fell Short” With Qantas Engine Failure

ATSB report found oil leak led to a fire in the Trent 900 engine, which caused the break-up of a turbine disc and aircraft damage

World’s Largest Construction Firm To Invest In $1bn Dubai Hotel

China State Construction Engineering Corporation will make its first-ever Middle East investment in the Viceroy Dubai Palm Jumeirah project.

Abu Dhabi’s Masdar Launches Wind Farm In Seychelles

The 6MW Port Victoria Wind Farm is expected to power 2,100 homes in the island country.

Saudi Arabia To Sell More Crude To India In July

Two refiners in India have asked for additional cargoes to make up for a loss of supplies from Iran, say sources.

India’s Bharti Airtel Shareholders Approve Qatar Stake Sale

The deal marks Qatar’s first major investment in a listed Indian company.

India’s L&T Wins $300m Gas Project In Saudi Arabia

L&T will build a plant with a processing capacity of 75 million standard cubic feet per day.

India says Emaar JV Violated Rules In $1.5bn Investments

Emaar MGF Land has been accused of using overseas funds to buy agricultural land, which is not allowed.

Abu Dhabi Fund ADIA Turning To Emerging Markets

The fund raised its exposure limit on Chinese equities to $500 million from $200 million in the third quarter.

Qatar National Bank To Start India Operations

The state-owned lender expects to begin operations in the third quarter under the name of QNB India Private Limited.

Aramco Awards Midyan Gas Project To India’s L&T

The project, estimated to be worth less than $300 million, is due to come online in mid-2016.

Struggling Singapore Airlines Fights Back Against Gulf

With a market value of $11 billion, Asia’s second biggest airline desperately needs growth. Profit slumped nearly 70 per cent in the year to March 2012.

Thailand Woos Middle East Honeymooners

The Southeast Asian nation hopes to see a five per cent annual growth in Middle East travellers.

Emirates-Qantas Deal Not A “Reaction” To Competition – Clark

Emirates president Tim Clark said the airlines were not influenced by Etihad’s partnership with Virgin Australia.

SriLankan Airlines Posts 26% Rise In ME Passengers

The national airline carried a total of 463,999 passengers in the last year.

Qatar Buys Stake In India’s Bharti Airtel For $1.3bn

The deal is being channelled through Qatar Foundation Endowment.

Many In Muslim World Want Sharia As Law Of Land

Study finds over three-quarters of Muslims in MENA and South Asia want sharia courts to decide family law issues such as divorce and property disputes.

Japan Signs Nuclear Technology Deal With UAE, Wants More Oil

Japanese Oil Development Co. owns 12 per cent of the Abu Dhabi Marine Operating Company oil and gas concession which expires in 2018.

AFC Elects Sheik Salman President

Sheikh Salman secured 33 of the 46 presidential votes available from AFC member associations in Malaysia.

Only 10% Of UAE Indians Have Adequate Retirement Planning

The majority of the NRIs have investments in illiquid assets and expect familial support during retirement.

Etihad Buys Jet Airways Stake For $379m

The Abu Dhabi carrier is approved to buy 27.3 million shares at 754.74 rupees each on a preferential basis.

Brent Drops Below $100 For First Time Since July

Recent weak data from China and the United States has caused concern about oil demand.