Home World Asia-pacific

Asia-pacific

Sheikha Lubna Eyes China Investment

The two countries are set to strengthen bilateral trade ties, according to the UAE Minister of Foreign Trade.

SABIC Plans $100m Centre In China

The Saudi-based chemical producer is planning to build a technology research and development in Shanghai.

New System To Protect Indian Contract Workers

The new process, jointly introduced by the UAE and India, aims to improve transparency in the recruitment of workers.

Saudi Trims May Oil Prices For Asia

The Kingdom also slashed its crude prices for Europe, as oil demand weakens.

Korea Eyes More Nuclear Plants In UAE

Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.

Global Shoppers Spend $497m During DSF

Interestingly, visitors from Russia were the biggest spenders in the UAE during the Dubai Shopping Festival, according to Visa.

World Oil Import Bill May Hit $2trn

The International Energy Agency has warned that if crude oil prices don’t fall, oil import bills may soar to record levels this year.

First Gulf Lends $350mn to AKT

The UAE lender’s loan will help Indonesian coal producer AKT to meet its working capital needs.

Kingfisher To Stop International Flights

India-based Kingfisher Airlines, which operates daily flights to Dubai, said that it was cancelling all its international routes.

China, GCC To Boost Trade

High-level ministers from the GCC countries and China have held meetings and decided to increase economic and trade relations between their regions.

Etisalat Offers 3G In Afghanistan

The UAE based telecoms operator said that it was the first operator to provide 3G services in the country.

Qapco, Taiwan’s CTCI Sign Deal

Qatar Petrochemical Company has awarded construction contracts worth QR604 million to expand its ethylene plant.

KIA Gets China Stock Market Quota

Kuwait’s sovereign wealth fund has obtained approval to initially invest up to $300 million in China’s securities market.

ENBD Issues First CNY Bond

The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.

ME Sukuk Volumes To Reach $14bn

The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.

Drake & Scull Wins India Contract

The utilities unit of Drake & Scull International has won the Dhs100 million contract to set up a water system for a thermal power station in India.

ME Unrest To Affect Global Asset Prices

Regional unrest might affect China’s oil input, which in turn will have a drastic impact on global asset prices, said hedge funds guru Marc Faber.

Korea Gets UAE Oilfields Stake

A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.

Saudi Raises Crude Prices For Asia

Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.

Nomura To Offer Tadawul Access

The Japanese bank has received approval to offer foreign investors access to Saudi Arabia’s bourse.

Saudi Faces Rising Oil Demand

The Kingdom is concerned about keeping the global oil market well supplied as demand from Asian countries increases.

Etisalat To Shut Down India JV

The decision follows the ruling of an Indian court to cancel 122 telecoms licences in the country amid a corruption scandal.

MENA, Russia Trade To Grow 14%

The region’s trade with Russia, India and China is set to grow much faster than trade with developed economies.

Gulf Funds Eyeing ONGC Stakes

Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.

SABIC, Sinopec In $5.3bn Contract

The two companies are in negotiations to build a methanol complex in Trinidad and Tobago.

Batelco Sells STel Stake

The Bahraini telecoms operator will receive $174.5 million, the same amount that it paid to purchase the stake in the Indian firm.

Saudi Ready To Up S Korea Oil Supply

Saudi Arabia might increase crude oil supplies to South Korea as Seoul looks for alternatives to Iranian oil.

Oman May Sell Crude To Sri Lanka

The country is scrambling to find an alternative to its threatened primary supply from Iran, Oman’s oil minister has said.

Japan’s Trade Deficit Raises Concerns

The country’s first trade deficit since 1980 raises questions how Japan will finance its huge public debt.

Drake & Scull Pushes Into Asia

Amid the Dubai real estate meltdown, UAE contractor Drake & Scull International is chasing growth in Saudi Arabia and Asia.