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Monthly Archives: October 2016

Northwest Seaports Launch New Mobile Apps

  The Northwest Seaport Alliance will launch two new mobile applications early November to help speed the flow of containers through port facilities and along local freight corridors, reduce idling-related air emissions and save fuel. DrayQ aims to give truck drivers real-time information about wait times in and around marine cargo terminals, and DrayLink will interconnect the drayage community to ...

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Georgia Ports Boosts Car Processing Space

  Georgia Ports Authority has announced a 100-acre expansion of the Colonel’s Island auto terminal. The new roll-on/roll-off capacity is part of an initiative to service a growing market, while staying 20 percent ahead of the port’s current demand. Twenty of the 100 acres are paved and in use by Wallenius Wilhelmsen Logistics, while International Auto Processing has leased another ...

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World First for Weighing Containers on Chassis

Container weighing solution company Bison has launched what it claims is the world’s first system for weighing containers on trailer chassis.The system comes with recent amendments to the SOLAS convention forcing shippers around the world to verify the weight of every export container with certified weighing equipment or processes. The SOLAS rule change has added cost and complexity to container ...

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New Cranes for Tangier Port

  APM Terminals has ordered 12 remote-controlled ship-to-shore (STS) cranes and 32 automated rail-mounted gantry cranes (ARMGs) to equip the new five million TEU APM Terminals MedPort Tangier facility now under construction at the Tanger-Med II port complex.The container terminal will be the second operated by APM Terminals at the Tanger-Med port complex and designed to serve the newest ultra-large ...

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Diesel Emissions Down at Port of Oakland

  Diesel emissions from trucks serving the Port of Oakland declined 98 percent between 2005 and 2015. In that same timeframe, ship emissions dropped 75 percent.Those were the key findings of an emissions inventory the Port released last week. The results indicate the Port is advancing its 2008 commitment to reduce seaport-related diesel health risk by 85 percent by the ...

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USS Illinois Joins the Fleet

  The U.S. Navy commissioned the newest Virginia class submarine, USS Illinois (SSN 786), during a ceremony attended by more than 2,500 at Naval Submarine Base, New London on October 29. Illinois, named in honor of the 21st state, is the 13th Virginia-class, fast-attack submarine to join the Navy’s operational fleet. Illinois is the third of eight Block III Virginia-class ...

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South Korean Government to Fund Shipbuilding

  South Korea’s finance minister said on Monday the government planned to support orders of 250 or more vessels by 2020 to help local shipbuilders. South Korea said on Monday it plans to establish a state-backed ship financing company with an initial capital of 1 trillion won ($871.73 million) to help improve the financial health of Korean shipping companies. The ...

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Singapore Faces Debt Scramble

  Singapore companies, highly exposed to slowing global trade and a lacklustre commodity market, face a financing scramble in 2017, as more than US$12 billion of their bonds falls due and banks grow wary of lending to the resources sector. That could trigger more blood-letting in a market that has already seen some high-profile corporate defaults, such as oil services ...

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Japanese Shipping Companies to Merge Container Operations

  Japanese shipping companies NYK, Mitsui OSK Lines (MOL) and Kawasaki Kisen Kaisha (K-Line) said on Monday they will merge container shipping operations as overcapacity and weak economic growth shake up the global industry. The companies will form a joint venture that they expect will see an annual cost benefits of about 110 billion yen ($1.05 billion). They said in a statement that ...

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Huawei showcases TV streaming via cloud

  Huawei, a leading global ICT solutions provider, showcased its new TV solution that enables streaming of TV content through Huawei’s video cloud at the ongoing TV Connect Mena conference and exhibition in Dubai, UAE. Much TV has already been rolled out by five telecom operators across the Middle East and is expected to reach over three million users by ...

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Strata completes delivery of shipset to Airbus

  UAE-based Strata Manufacturing, a composite aero-structures manufacturing facility owned by Mubadala, has delivered its first shipset of A350 – 1000 Flap Support Fairings (FSFs), from its contract with Saab, to Airbus. The first shipset was delivered through Saab business unit ,Saab Aerostructures, to Airbus, following the Strata-Saab announcement made in June last year during the Paris Air Show, said ...

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Saudi Arabia opens real estate funds trading to expats

In a major move, Saudi Capital Market Authority Board has given approval to expats living in the country to trade in the units of the Real Estate Investment Traded Funds (REIT) in the Saudi bourse (Tadawul), said a report. The final version of the REIT Instructions was given the go-ahead by The Saudi Capital Market Authority Board yesterday (October 30), ...

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Qatar Stock Exchange to host AFE meetings

  Qatar Stock Exchange (QSE) will host the annual conference and meetings of the Arab Federation of Exchanges (AFE), which will be held in Doha, Qatar from April 25 to 28. The AFE Conference in Doha will host 20 Arab exchanges and financial markets.  Delegates attending the AFE Annual Conference 2017 will include financial services firms as well as world-class ...

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Air pollution kills 600,000 children yearly: Unicef

  Around 600,000 children under age five die every year from diseases caused by or aggravated by outdoor and indoor air pollution, Unicef said on Monday, a week ahead of the COP 22 in Marrakesh, Morocco. “Pollutants don’t only harm children’s developing lungs – they can actually cross the blood-brain barrier and permanently damage their developing brains – and, thus, ...

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To love is human

  Track marshals form the word ‘Love’ during the Mexico’s Formula One Grand Prix at Autodromo Hermanos Rodriguez in Mexico City, Mexico, on October 30. Lewis Hamilton won the race, marking his 51st career victory. The pole-to-flag victory was the triple world champion’s eighth of the season and put him level with France’s Alain Prost in the all-time lists of ...

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World air cargo traffic to grow at 4.2pc: Boeing

  Global air cargo traffic will grow at an annual rate of 4.2 per cent over the next 20 years, with 930 new and 1,440 converted freighters needed to meet market demand by 2035, according to a new report released by Boeing. The company released its biennial World Air Cargo Forecast at TIACA (The International Air Cargo Association) Air Cargo ...

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Offshore wind power could grow more than 650pc

  Offshore wind power has the potential to grow from just 13 gigawatts (GW) in 2015, to 100 GW in 2030, marking a growth of more than 650 per cent, according to new analysis from the International Renewable Energy Agency (Irena). “Innovation Outlook: Offshore Wind”, launched today (October 31) at the World Wind Energy Conference in Tokyo, Japan provides an ...

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GE, Baker Hughes near $30bn energy merger

  General Electric (GE) is expected to announce today (Ocotber 31) a $30 billion deal to combine its oil-and-gas business with Baker Hughes, a Wall Street Journal report said. The deal will create an energy powerhouse that would give GE a cost-effective way to play any recovery in the industry, it said. GE plans to contribute its oil-and-gas business and some ...

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Saudi Aramco, Nabors sign JV for onshore drilling rigs

  Saudi Aramco, the world’s top exporter of crude oil and natural gas and Nabors Industries, a global leader in drilling rigs, have signed an agreement to form a new joint venture in Saudi Arabia to manage and operate onshore drilling rigs. The joint venture, which will be equally owned by Saudi Aramco and Nabors, is anticipated to be formed ...

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Bomb plot targeting Saudi stadium thwarted

  Saudi security officials thwarted a terror plot targeting a stadium in Jeddah prior to an international football match between the Saudi team and  the UAE, authorities have announced. The four suspects have been arrested after foiling the plot which targeted the Al-Jowharah Stadium on October 11, a spokesman of the Ministry of Interior said. The authorities also brought down ...

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Nakilat takes over first LNG carrier management from Shell

(TRADE NEWSWIRE):Nakilat has announced the management takeover of Q-Max LNG carrier Mozah from Shell International Trading and Shipping Company Limited (STASCO), TRADE NEWSWIRE reports. According to a statement obtained by TRADE NEWSWIRE from the Acting Head of Communications, Nakilat Shipping Qatar Limited, Fairuz Aledroos, on behalf of the company’s Public Relations Manager, Jassim Al Naama, in Qatar on Sunday, this ...

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Sulfur Cap to Drop in 2020- IMO

The IMO’s Marine Environment Protection Committee has agreed to reduce the global sulfur emissions limit to 0.5 percent in 2020. The agreement not to delay the new limit until 2025 was reached at a session on Thursday. The move from 3.5 to 0.5 percent will add extra costs to the shipping industry at a time when parts of it are ...

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Long-Term Container Rates May Improve in 2017

  Analysts with shipping data firm Xeneta believe that while it is too early to predict the containerized freight market for 2017, it is likely that long-term contract rates will be higher than what they were in 2016. The third quarter of the year was excellent for carriers, said Xeneta CEO Patrik Berglund, “largely due to Hanjin transforming oversupply to ...

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Transpetro Cancels Orders for Seventeen Ships

  The transportation unit of Brazil’s state-controlled oil company Petrobras said on Thursday that it planned to cancel orders for 17 tankers and other vessels designed to upgrade the largest shipping fleet in the Americas.”We decided to revoke the contracts for those ships,” Antonio Silvino, head of Transpetro, told reporters during a presentation at Rio Oil & Gas conference. He ...

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Hyundai Merchant Marine Bids for Hanjin

    South Korea’s Hyundai Merchant Marine said on Friday it submitted an initial bid for troubled container shipper Hanjin Shipping’s key operations.Hyundai did not elaborate on what assets it had bid for but said last week it may submit a preliminary bid for Hanjin assets used in Asia-to-U.S. routes that were put up for sale earlier in October. The ...

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Twitter cuts jobs with eye on 2017 profit; Vine discontinued

REUTERS – Twitter Inc said Thursday it would cut 9 percent of its global workforce to keep costs down even as quarterly results eclipsed Wall Street’s beaten-down expectations, lifting shares that had fallen after a failed effort to sell the company. More than 300 Twitter employees will be affected by the layoffs as part of a broader restructuring, a figure ...

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Google parent Alphabet profit surges on mobile, video ads

REUTERS: Google parent Alphabet Inc bested analysts’ estimates for third-quarter profit and revenue on Thursday as the search company showed it has honed its core business for the mobile era and is closing in on the next wave of computing. Propelled by strong advertising on mobile devices and video site YouTube, Alphabet’s net income climbed 27 percent to US$5.06 billion. ...

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Apple adds touch screen keys to MacBook Pro, price jump startles some

CUPERTINO, Calif.: Apple Inc unveiled a revamped MacBook Pro on Thursday, adding a fingerprint reader, replacing function keys with a small touch screen and raising prices by several hundred dollars. The first redesign in several years is a sign Apple still sees a role for the product that launched the company, even though its iPhone has become the flagship product. ...

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Malaysia cargo train derailment strands thousands

KUALA LUMPUR: A spectacular cargo train derailment in Malaysia on Friday (Oct 28) left cars piled up like toys, blocking two busy tracks and stranding thousands of travellers on the country’s busy rail network. The train’s two engines and 25 empty cement cars were thrown from the tracks along a heavily travelled north-south rail corridor in the northern state of ...

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Philippine mayor, 9 bodyguards killed in police shoot-out

  KIDAPAWAN, Philippines: A Philippine mayor accused of drug trafficking was killed along with nine bodyguards in a shoot-out with police Friday (Oct 28), authorities said, hours after President Rodrigo Duterte threatened to intensify his crackdown on crime. Samsudin Dimaukom, the mayor of the southern town of Saudi Ampatuan, was one of more than 150 local government officials, judges and ...

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Ong Ye Kung, Ng Chee Meng promoted to full ministers

SINGAPORE: Acting Ministers Ong Ye Kung and Ng Chee Meng have been promoted to full ministers. In a statement issued on Friday (Oct 28), the Prime Minister’s Office said Mr Ong has been promoted to Education Minister (Higher Education and Skills). Mr Ong will also be Second Minister in the Ministry of Defence. Mr Ng meantime, has been promoted to ...

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RM20 charge for foreign vehicles entering Johor from November

KUALA LUMPUR: Foreign private-registered vehicles entering Malaysia via Johor will be subjected to an RM20 (S$6.60) charge from Nov 1, the Ministry of Transport (MOT) announced on Friday (Oct 28). The road charge (RC) will be collected each time motorists enter Malaysia via Touch n’ Go cards, according to the statement. The RC system has been activated at the two ...

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Rolls-Royce unveils new Spring/Summer 2017 Collection

  Rolls-Royce has revealed its Spring/Summer 2017 Couture collection, with signature detailing in vibrant colour complementing pallettes of classic white as ‘Dawn is Inspired by Fashion’. Rolls-Royce and the world of Haute Couture have long been bound by a common philosophy – taking the very finest materials and crafting them into the most exquisite and desirable luxury goods as expressions ...

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Lufthansa’s budget carrier cancels hundreds of flights

  The cabin crew of Eurowings, a subsidiary of German airline Lufthansa, are taking part in a 24 hour strike, which has pushed for hundreds of flights to be cancelled, said a report. Some 400 flights have been cancelled on Thursday, affecting close to 40,000 passengers, said a report in The Daily Mail UK, Many of its European flights have ...

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First Rolls-Royce Boutique opens in Dubai

  Rolls-Royce Motor Cars today unveiled its first ‘Rolls-Royce Boutique’, a new concept in luxury, in Dubai, UAE. Torsten Müller-Ötvös, chief executive officer, Rolls-Royce Motor Cars, presided at the official inauguration ceremony, alongside officials from AGMC, the sole and authorised representative for Rolls Royce Motor Cars in Dubai, Sharjah and the Northern Emirates of the UAE. The new space speaks ...

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App with list of Emirati words launched

  The Dubai Municipality has launched a new app containing a glossary of Emirati words with an option for searching pronunciation in the local dialect, as well as the provision for adding new local words to it during the updating process. The smart app called ‘Ramsatina’, which is an initiative of the Knowledge Management Department at the municipality, is the ...

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Etihad expands UAE-India services with Jet Airways

  UAE national carrier Etihad Airways has announced the expansion of services between Abu Dhabi and India as strategic partner Jet Airways unveiled new routes and additional frequencies to further strengthen their partnership in one of the world’s fastest growing aviation markets. From early 2017, the two airlines will expand their services between the United Arab Emirates and India by ...

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Most UAE, Saudi firms ‘wary of digital start-ups’

  Nearly 85 per cent of businesses in the UAE and Saudi Arabia believe that digital start-ups will pose a threat to their organisation, either now or in the future, according to new research. Dell Technologies’ Digital Transformation Index supplements the research and rates companies based on respondents’ perceived performance about their firms’ digital transformation. This phenomenon is propelling innovative ...

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Qualcomm to buy NXP for $47 billion

  Qualcomm and NXP Semiconductors today announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Qualcomm will acquire NXP for $47 billion. The deal is expected to make Qualcomm, which supplies chips to Android smartphone makers and Apple, one of the biggest suppliers to the fast-growing market of chips used by the automotive ...

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Gulf Navigation to expand tanker fleet

  Gulf Navigation Holding, a group which owns and operates chemical tankers, is expanding the company’s fleet through a strategic long-term partnership with Wuchang Group, China’s heavy industry giant. The decision, made at Gulf Navigation Holding’s latest board meeting, aims to meet the increasing demand for transferring chemicals from the UAE and other GCC countries to global markets, said a ...

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Saudi-led forces intercept missile targeting Makkah

  The Command of the Coalition Forces supporting the Legitimate Government of Yemen yesterday (October 27) announced that they intercepted a ballistic missile launched by Iranian-backed Houthi militias. The missile was launched from Saada province toward the Makkah area, said a statement. Saudi air defence was able to intercept the missile and destroy it about 65 km from Makkah without ...

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Etisalat Group 9-month net profit hits $1.69bn

  Etisalat Group, a leading telecom company, reported a net profit of Dh6.2 billion ($1.69 billion) for the first nine months of this year, an increase of 9 per cent compared to the same period last year. Consolidated net profit for the thrid quarter after federal royalty amounted to Dh1.9 billion ($517.3 million), a 16 per cent increase after adjusting ...

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Boeing sees cash growth despite drop in Q3 sales

  Boeing delivered 188 commercial airplanes during the third quarter, as against 199 in Q3 2015, but its shares rose 4 per cent after the planemaker said it would deliver more aircraft than expected this year and raised its profit outlook. Boeing delivered 188 commercial airplanes during the third quarter of the year, as against 199 in Q3 2015, reflecting ...

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GCC reforms impressive, but more needed: IMF chief

  The reforms that the GCC countries have been implementing over the past year in response to the decline in oil prices are impressive, but continued fiscal adjustments will be needed over the medium term, the IMF chief has said. Christine Lagarde, managing director of the International Monetary Fund, in a statement issued at the conclusion of a visit to ...

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China to Carry Out More Drills in South China Sea

China will carry out military drills in the South China Sea all day on Thursday, the country’s maritime safety administration said on Wednesday, ordering all other shipping to stay away. China routinely holds drills in the disputed waterway, and the latest exercises come less than a week after a U.S. navy destroyer sailed near the Paracel Islands, prompting a warning ...

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BP Sells U.S. Crude to Thailand, Australia

  BP plans to ship one million barrels of U.S. crude to Thailand and Australia for the first time, three trade sources said on Wednesday, as the company steps up American oil exports to meet demand in the Asia-Pacific region. The cargo will add to at least four shipments of U.S. crude by BP to Asia earlier this year after ...

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DOT Provides New Details on Sea Year Suspension

On October 25, the Department of Transportation provided new details on its decision to suspend the U.S. Merchant Marine Academy’s keystone Sea Year program over persistent problems with sexual assault, harassment and intimidation. DOT’s new statements were in response to questions from a group of 20 Congressional representatives on the status of the suspension and on the academy’s accreditation, which ...

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IEA: New Renewable Power Outstripped Coal in 2015

The International Energy Agency’s latest renewable energy market report contains a landmark finding: last year, the capacity of new renewable power sources outstripped that of new coal-fired power plants for the first time. Onshore wind and solar developments led the way, bringing total new renewable energy capacity to a record 150 GW for the year. The IEA cautioned that while ...

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LNG Tanker Comes Under Attack Off Yemen

Unknown assailants attacked a gas tanker off the coast of Yemen close to the Bab al-Mandab waterway in the latest flare up in an area through which much of the world’s oil passes, shipping and security officials said on Wednesday. The incident, the first attack on a commercial ship since July, followed missile attacks in recent weeks on military craft, ...

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Hundreds flee new earthquakes in Italy

  ROME: Hundreds of people awoke in emergency shelters in Italy on Thursday (Oct 27) after fleeing their homes following a series of strong quakes in the same region struck by a devastating tremor two months ago. After a night of heavy rain, rescuers workers were trying to assess the full extent of the latest disaster in central Italy, which ...

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At least 800 IS fighters killed in Mosul offensive: US general

BAGHDAD: A US general told AFP on Thursday that between 800 and 900 Islamic State group fighters have been killed since Iraqi-led operations to recapture Mosul from the militants began. “Just in the operations over the last week and a half associated with Mosul, we estimate they’ve probably killed about 800-900 Islamic State fighters,” General Joseph Votel, who heads the ...

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More Republicans expect Clinton, rather than Trump, to win US election: Reuters/Ipsos poll

  NEW YORK: More Republicans now think Democrat Hillary Clinton, rather than Donald Trump, will win the presidency, as their party’s candidate struggles with difficulties including allegations of sexual misconduct and his suggestion he may not honour the outcome of the election. A Reuters/Ipsos poll released on Wednesday and conducted from Oct. 20 to Oct. 24 found that 41 percent ...

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NIMASA on track to enforce safety standards in Oil & Gas Sector- Peterside

  (TRADE NEWSWIRE): The Nigerian Maritime Administration and Safety Agency (NIMASA) has assured stakeholders that its on track to ensure that safety standards are not compromised in the operations of the nation’s maritime industry, TRADE NEWSWIRE reports. In a statement obtained by TRADE NEWSWIRE from a World-renowned First-rate Public Relations Professional and Head, Corporate Communications, NIMASA, Hajia Lami Tumaka, on ...

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‘No indication’ devices from Singapore contributed to US cyberattack: CSA

SINGAPORE: There is no indication that devices from Singapore contributed to the attack against US-based domain name service provider Dyn, which resulted in Web services like Twitter, Spotify and Reddit experiencing downtime, the Cyber Security Agency of Singapore (CSA) said on Wednesday (Oct 26). In its reply to queries by Channel NewsAsia, a CSA spokesperson said there is a wide ...

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Samsung Note 7 probe results to be come at year-end -Samsung SDI exec

  SEOUL: Samsung Electronics and battery supplier Samsung SDI expect to announce the results of their probe into the cause of fires in some Galaxy Note 7 smartphones late this year, a SDI executive said on Thursday. The executive, Kim Hong-gyeong, said “weakness” in some batteries for Note 7 had been confirmed, adding that the exact cause of the Note ...

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Japan, US, S Korea agree to put more pressure on North Korea: Japan official

TOKYO: Japan, the United States and South Korea agreed on Thursday to work together to put more pressure on North Korea to get it to abandon its nuclear and missile programmes, Japanese Vice Foreign Minister Shinsuke Sugiyama said. Tension on the Korean peninsula has been high this year, beginning with North Korea’s fourth nuclear test in January, which was followed ...

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Public transport fares to fall by 4.2% from Dec 30 due to lower energy prices

  SINGAPORE: Public transport fares will be reduced by 4.2 per cent from Dec 30, the Public Transport Council (PTC) announced on Thursday (27 Oct). This means commuters will see a fare reduction of up to 27 cents per trip. A further 1.5 per cent reduction will be carried forward to the next fare review exercise. A total reduction of ...

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Nakilat Holds 20th Qatar Project Shipping Forum

    (TRADE NEWSWIRE): Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, held Qatar Project Shipping Forum (QPSF) in London over a span of two days, TRADE NEWSWIRE reports. QPSF is as an important platform, established and organised by Nakilat in 2006, to address concerns covering a wide array of topics including shipping safety, technical, marine environment, ...

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Apple profit slips 19% to US$9b on lower iPhone sales

SAN FRANCISCO: Apple’s quarterly profit slumped on a widely expected drop in iPhone sales, but gains in services offered some optimism on its move to ease dependence on its smartphone. The company said on Tuesday (Oct 25) that profit fell 19 per cent to US$9 billion in the fiscal quarter ending Sep 24. Revenue fell nine percent to US$46.9 billion ...

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Toyota to recall 5.8 million cars in Japan, China, Europe over Takata airbags

TOKYO: Japan’s Toyota Motor Corp on Wednesday said it was recalling a total of about 5.8 million cars at home and abroad over potentially faulty air bag inflators made by Takata Corp. The recall, which includes the Corolla and the Vitz subcompact hatchback model which is marketed overseas as the Yaris, covers models produced between May 2000 and November 2001, ...

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Singapore manufacturing output rebounds with 6.7% rise in September

SINGAPORE: Manufacturing activity rebounded in Singapore last month, with output rising 6.7 per cent compared to the same period last year, according to data released by the Economic Development Board (EDB) on Wednesday (Oct 26). Excluding biomedical manufacturing, output grew 3.5 per cent. On a seasonally adjusted month-on-month basis, output was up 3.3 per cent compared to August. Excluding biomedical ...

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India’s Tata in race against time to save global image

MUMBAI:  fIndia’s largest conglomerate Tataaces one of the most turbulent periods in its long history after its shock decision to sack its chairman, analysts say, as it battles to save its global reputation. Seventy-eight-year-old patriarch Ratan Tata dramatically returned to the helm of the family business this week after he became upset at the direction Cyrus Mistry was taking the ...

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Post-sanction Iran makes play for Asian investment

SINGAPORE: Iran on Wednesday (Oct 26) urged more Asian companies to invest in the country, saying the lifting of nuclear-linked sanctions had opened vast opportunities for foreign capital. Central bank governor Valiollah Seif told a business seminar in Singapore that reforms put in place since President Hassan Rouhani took office in 2013 helped restore economic stability while the lifting of ...

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Kids’ ‘miracle’ survival as Australia theme park deaths probed

GOLD COAST: Two children had a “miracle” survival when a raft flipped at an Australian theme park killing four adults, police said on Wednesday (Oct 26), as claims emerged that safety concerns had been raised at Dreamworld last year. Two women and two men died when two rafts on the Thunder River Rapids ride at the Gold Coast tourist attraction ...

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South Africa coach Domingo gets contract extension

CAPE TOWN: South Africa have extended the contract of coach Russell Domingo until after next year’s tour to England, Cricket South Africa said on Wednesday. The 42-year-old took over from Gary Kirsten in mid-2013 but his current contract was due to run out in April after South Africa return from a tour to New Zealand. “The Board believed the best ...

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Bypass surgery may be better than stents for patients who skip meds

NEW YORK: For heart disease patients who adhere to optimal medical therapy, outcomes of coronary bypass graft surgery (CABG) and percutaneous coronary intervention (PCI) may not differ, a new study finds. However, among non-adherent patients, CABG affords better major adverse cardiac event–free survival. When they don’t take their meds as directed, CABG patients are 68 per cent more likely to ...

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Work environment may moderate menopause misery

  MELBOURNE: Women experiencing menopause symptoms like hot flashes and sleeping problems do better if they have a comfortable workplace and a supportive boss, according to an Australian study. By offering support to menopausal women, such as trained managers and temperature controls, workplaces can improve the employee experience and help themselves by boosting productivity, the researchers write in the journal ...

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Stand-off in Hong Kong legislature over pro-independence oaths

HONG KONG: Hong Kong’s legislature was again reduced to chaos Wednesday (Oct 26) as political divisions deepen over the swearing in of two new lawmakers who advocate a split from Beijing. There are growing concerns in the semi-autonomous city that China is tightening its grip, fuelling an independence movement. In citywide polls last month, a number of new lawmakers advocating ...

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Fire breaks out again at Johor Baru hospital

  SINGAPORE: Another fire broke out at Sultanah Aminah Hospital in Johor Baru on Wednesday (Oct 26), just a day after a deadly blaze at the hospital left six patients dead. The Malaysia Fire and Rescue Department said the incident happened at around 1.40pm. In a tweet, Johor’s fire and rescue services chief Othman Abdullah confirmed that “sparks” occurred on the ...

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Mena region planning $245bn railway projects

  Railway and metro schemes worth $245 billion are being currently planned in the Middle East and North Africa (Mena) in preparation for mega global events such as the Dubai Expo 2020 and the 2022 FIFA World Cup in Qatar, said experts. The region is already working on $89 billion worth of projects including the first phase of the Doha ...

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Rescue mission

A handout picture provided by the Spanish Army Mayor Staff (AJEMA) showing the rescue of around 703 immigrants by the frigate ‘Navarr’ close to the Libyan coast on October 25.  The rescue happened during an operation with the EU authorities missions against the illegal human traffic.  EPA/Spanish Army Mayor Staff

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4 dead after Australia theme park incident: Queensland police

SYDNEY: Two women and two men were killed at a theme park on Australia’s popular Gold Coast Tuesday (Oct 25), police said, with witnesses describing how “everyone was screaming” after a raft apparently flipped on a water ride. Queensland police said the four victims died on the Thunder River Rapids ride at the Dreamworld park, as Prime Minister Malcolm Turnbull ...

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No significant pick-up in Singapore’s GDP growth in near term: MAS

SINGAPORE: The dark clouds gathering over Singapore’s economy are unlikely to go away anytime soon, according to the Monetary Authority of Singapore (MAS). In its half-yearly Macroeconomic Review released on Tuesday (Oct 25), the central bank noted that the city-state’s economy is currently in a cyclical downturn after logging a sharp contraction of 4.1 per cent in the third quarter ...

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6 patients dead in fire at Johor Bahru hospital

  JOHOR BAHRU: Six patients – four women and two men – were killed in a fire at the Intensive Care Unit (ICU) of Johor’s biggest hospital. The fire on level two of the Sultanah Aminah Hospital (HSA) started at around 8.55am on Tuesday (Oct 25). Director of Johor’s Fire and Rescue Department Othman Abdullah said 166 firemen and 10 ...

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Etihad global sale offers Kuwaiti travellers great fares

  Etihad Airways has launched its global sales campaign in Kuwait, with special fares to a wide range of destinations for travel until June 2017. Guests have between October 25 and 31, 2016, to take advantage of this amazing offer, and can book on etihad.com or via their local travel agent. Travel validity for bookings made under this promotion will ...

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BP’s Khazzan gas project 80pc complete

  BP Oman has announced that phase one of its Khazzan natural gas project is 80 per cent complete and on track to deliver first gas towards the end of 2017, reported the Times of Oman. The Khazzan drilling programme is also on schedule with 38 of the 50 wells needed by first gas already drilled, the report said. More ...

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Iraq calls proposals to develop small oil fields

  Iraq has requested proposals from international oil companies interested in developing a number of small- and medium-sized oil fields, Iraq Business News reported. The fields include Sindebad, Umm Qasr, Rachi, Abu Khema  in the Basra governorate and Kumait  Noor, Umara, Dema and Dujaila in the Missan governorate. The companies already qualified to bid include China Zhenhua Oil Company (China), ...

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Investcorp to buy 3i’s debt management business

  Investcorp, a leading provider and manager of alternative investment products, said it has reached an agreement with UK-based 3i Group to acquire its debt management business, 3iDM, for £222 million ($271 million). Announcing the deal, the Bahrain-based company said the proposed transaction significantly enhances Investcorp’s global franchise as a multi-asset class alternative investment manager by adding $12 billion of ...

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Mammoth task

  A view of the skull and tusks of a woolly mammoth displayed at an exhibition of the Natural Monument Center in Daejeon, south of Seoul, South Korea, on October 24. Korean-Japanese Park Hee-won, director of a paleontology museum in the Japanese prefecture of Nagano, donated the specimen of the extinct mammal to his motherland in November last year. He ...

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Five megatrends transforming the Middle East

  Demographic and social change, shift in global economic power, rapid urbanisation, climate change and resource scarcity and technological breakthroughs will dictate and shape the future of the region, says a new report. PwC, one of the world’s largest professional services firms in the region, has launched its first-ever regional megatrends report entitled Middle East Megatrends: Transforming our region. The ...

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Maritime sector contributes $7.32bn to Dubai GDP

  The maritime sector significantly improved its contributions to Dubai’s GDP in 2015, accounting for Dh26.9 billion ($7.32 billion) or seven per cent of the total, according to latest figures. Shipping had the largest share, followed by ports, maritime engineering, and maritime support services. The latest numbers reflect the increasing contribution of the maritime sector to the local economy which ...

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Oman to start work on $1.3bn waterfront project in 2017

  Oman Tourism Development Company (Omran) said it is set to start work on its ambitious RO500-million ($1.3 billion) Mina Sultan Qaboos Waterfront Project next year. Aimed at transforming Port Sultan Qaboos into a major tourism-based mixed-use waterfront destination, the project will be developed in four phases, said the company responsible for spearheading the sultanate’s tourism-related investment, development and management. ...

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Dubai Airport passenger traffic tops 7m in September

Dubai International Airport’s passenger number in September has eclipsed the 7-million mark for the sixth time in nine months. According to the monthly traffic report issued today by operator Dubai Airports, passenger traffic at DXB passengers reached 7,094,738 compared to 6,432,654 recorded in the corresponding month last year, an increase of 10.3 per cent. Year to date, the world’s leading ...

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Kano State Scholarship Board strengthens partnership with NIMASA on NSDP- Photos

(TRADE NEWSWIRE): Kano State Scholarship Board strengthens partnership with NIMASA on Nigerian Seafarers Development Programme (NSDP) , TRADE NEWSWIRE reports. TRADE NEWSWIRE obtained the event’s photographs from a World-renowned First-rate Public Relations Professional and Head, Corporate Communications, NIMASA, Hajia Lami Tumaka on Monday in Lagos. The Nigerian Seafarers Development Programme (NSDP): is a programme created by NIMASA in 2009 aimed ...

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India’s Tata Sons dumps Cyrus Mistry as chairman

  MUMBAI:  India’s Tata Sons dumped Cyrus Mistry as its chairman on Monday (Oct 24), almost four years after he was appointed as the first chief of the conglomerate from outside the immediate Tata family. “Tata Sons today announced that its Board has replaced Mr. Cyrus P Mistry as Chairman of Tata Sons. The decision was taken at a board ...

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Tax hike for China’s high income group ‘pure rumor’, state media says

  BEIJING: China’s state news agency Xinhua denounced various domestic media for reports saying the government planned to increase income tax for the country’s “high income” population, citing multiple official sources in a weibo post on Monday. Speculation was rife over the weekend that China would levy heavier tax for the “high income group” whose annual wages exceed 120,000 yuan ...

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IMF chief says Pakistan out of economic crisis

ISLAMABAD: Pakistan was praised Monday (Oct 24) by IMF chief Christine Lagarde for emerging from an economic crisis and stabilising its economy, after the country completed its bailout programme. The IMF released the last instalment of a US$6.6 billion three-year economic bailout package to Pakistan last month. Lagarde, on her first visit to Pakistan Monday, congratulated Prime Minister Nawaz Sharif ...

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Belgian PM says cannot unblock EU-Canada trade deal for now

BRUSSELS: Prime Minister Charles Michel said he had told European Council President Donald Tusk on Monday that Belgium could not agree to sign an EU-Canada trade deal because he had failed to secure the agreement of regional authorities. “I have officially told Tusk that we have no agreement,” Michel told reporters after a meeting with the regional leaders. The EU ...

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China’s HNA Group to buy 25 percent stake in Hilton

REUTERS: Chinese aviation and shipping conglomerate HNA Group said on Monday it agreed to buy an about 25 percent stake in Hilton Worldwide Holdings Inc from Blackstone Group LP for US$6.5 billion. HNA is buying the stake at US$26.25 per share, representing a premium of 14.6 percent to Hilton’s closing price on Friday. Blackstone’s holding in Hilton will be reduced ...

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Indonesia unexpectedly cuts key interest rate

  JAKARTA: Indonesia’s central bank on Thursday (Oct 20) unexpectedly cut its key interest rate for the sixth time this year in a bid to boost slowing growth in Southeast Asia’s top economy. Bank Indonesia reduced the rate by 25 basis points to 4.75 per cent, despite many economists having forecast there would no change. It was the second consecutive ...

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Gulf investors prepared to raise Deutsche Bank stake: Manager Magazin

FRANKFURT: Deutsche Bank’s largest investors, investment vehicles controlled by the Qatari royal family, would be ready to take part in a capital increase, German business monthly Manager Magazin reported on Thursday, citing banking sources. Germany’s biggest lender is battling to contain the damage from a U.S. demand for a US$14 billion settlement over the sale of toxic mortgage bonds before ...

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US jobless claims rise, but labor market still strong

  WASHINGTON: The number of Americans filing for unemployment benefits rose more than expected last week, but remained below a level that is associated with a strong labor market. Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 260,000 for the week ended Oct. 15, the Labor Department said on Thursday. That marked 85 straight weeks of ...

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JPMorgan in talks to sell out of Chinese securities JV

HONG KONG: JPMorgan Chase & Co is in talks to sell out of a Chinese securities joint venture with First Capital Securities Co Ltd in what would a high-profile departure by a Western bank from China’s securities segment. Global investment banks like JPMorgan often hold only minority stakes in such ventures and the resulting lack of control has been a ...

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Nissan completes takeover of Mitsubishi, keeps embattled chief

  TOKYO: Nissan Motor Co Ltd said on Thursday it had completed a deal to take a controlling stake in Mitsubishi Motors Corp, and would be retaining the embattled automaker’s chief executive to ensure its recovery from a mileage cheating scandal. Japan’s No. 2 automaker has agreed to make a 237 billion yen (US$2.29 billion) investment to acquire a 34 ...

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Crash landing feared as Europe’s Mars lander still silent

FRANKFURT/BERLIN: Thrusters intended to slow a European lander as it neared Mars on Wednesday fired for less time than expected before contact with the vehicle was lost, leaving scientists uncertain whether it touched down safely or broke apart. The Schiaparelli probe, part of a broader mission to search for evidence of life on the Red Planet, was to test technologies ...

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Facebook now lets you buy food, movie tickets on site

SAN FRANCISCO: Facebook will now allow Americans to order a meal, buy movie tickets or make an appointment at the hairdresser without having to leave the social networking site. The US company announced on Wednesday (Oct 19) the addition of new tools on the site to allow users to link directly with businesses. For example, a pizza can be delivered ...

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Coke and Pepsi sponsor groups trying to wean US off soda

Coca-Cola and PepsiCo made donations to nearly 100 influential U.S. public health organizations from 2011 to 2015 in an effort to silence groups that might otherwise push for laws regulating soda, researchers contend. Over the same five-year period, the two beverage giants lobbied against at least 28 soda taxes and other measures intended to curb consumption of sugary drinks and ...

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Why women should wait to get pregnant after weight loss surgery

SEATTLE: Babies born less than two years after their mothers have weight loss surgery may face a higher risk of serious complications than infants delivered after more time has passed, a US study suggests. Because obesity is linked to fertility issues, undergoing so-called bariatric surgery to shed excess weight can make it easier for some women to get pregnant. But ...

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ExxonMobil to Start Drilling off Liberia

  Exxon Mobil Corp will start drilling its first exploratory well off the coast of Liberia in November, the world’s largest publicly traded oil company said on Tuesday.”ExxonMobil Exploration and Production Liberia Limited, an affiliate of ExxonMobil, plans to drill a deepwater exploration well on the Liberia-13 Block, located about 50 miles offshore Liberia, beginning in November 2016,” a spokeswoman ...

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Mexican Billionaire Interested in Colombia River Project

  Two companies connected to Mexican billionaire Carlos Slim have declared an interest in taking over a majority stake in Colombia’s $857 million effort to make the Magdalena River navigable, the Colombian government said on Tuesday.The river project, valued at 2.5 trillion Colombian pesos, is set to increase cargo transport on the river to some 10 million tons by 2029, ...

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