Property firm Nakheel has awarded a Dhs35 million contract to build a community mall in its new Badrah development in Dubai. Dubai-based Convrgnt Value Engineering was awarded the contract to build the new facility, the developer said.
Updated 5 Years ago

Dubai Parks and Resorts, a Meraas holding company which is developing the company’s mega theme park development, announced on Thursday that its Hollywood-inspired theme park will have a dedicated DreamWorks Animation zone. Featuring DreamWorks Animation franchises, the zone will include 12 attractions and rides, and themed dining and retail outlets, Meraas said in a statement.
Updated 5 Years ago

The United Kingdom's first new nuclear plant in two decades got the final go-ahead from theEuropean Union after a year of twists and turns, a move that will help Chinese investors tap theUK nuclear market. Experts said the Hinkley Point C project, in which two Chinese nuclear giants hold a minor stake,will pave the way for Chinese companies' eventually owning a nuclear project in the UK.
Updated 5 Years ago

Peak Reinsurance, a reinsurance company founded in Hong Kong in December 2012, isgrowing fast in Chinese mainland and internationally to fill the gap in the large volume ofuninsured risk in the Asia Pacific. As a testimony to Peak Re's well-structured debut and goodgrowth, the company was nominated for the Launch of theYear award by Insurance Insider publication this year.
Updated 5 Years ago

China's economic growth slows but stays healthy, said Olivier Blanchard, chiefeconomist of the International Monetary Fund (IMF). China is expected to grow between 7 percent and 8 percent at current stage. But as it shifts todomestic consumption and services for growth, it could sustain 6 percent growth rate in thelonger term, Blanchard told Xinhua as the IMF-World Bank annual meeting is slated to open onFriday.
Updated 5 Years ago

Brazilian telecom firms claim the per-minute price of a cell phone call and broadband plan tariffs in the country are among the cheapest worldwide. They challenge an International Telecommunications Union (ITU) study which states prices for the services are among the highest.
Updated 5 Years ago

Brazil's civil aviation authority SAC has approved the construction of a new airport to serve Rio Grande do Sul state capital Porto Alegre and budgeted at some 1.2bn reais (US$505mn). The new airport, to be some 50km north of the state capital and near the town of Portão, was authorized due to congestion at Porto Alegre's Salgado Filho airport, according to a federal government release.
Updated 5 Years ago

Mexico's economy ministry has imposed antidumping duties on imports of galvanized welded wire mesh from China. The duties were set at US$2.08/kg following an investigation launched in June 2013 after a complaint by Mexican steelmaker DeAcero, which said the product was being imported at below fair value, posing a threat to domestic producers.
Updated 5 Years ago

That’s essentially the activist investor’s message to Apple Inc. (AAPL), which had a market capitalization of $603.6 billion at the close of trading on Oct. 8. In a letter yesterday to Apple Chief Executive Officer Tim Cook, Icahn made the case for why the Cupertino, California-based company should be trading at $203 a share, about twice the current price, which would boost its valuation to $1.2 trillion. Apple, Icahn said, is on the verge of seeing tremendous revenue growth as it brings out a new product lineup, including larger-screen iPhones, smartwatches and mobile payments. So if the market is undervaluing Apple at the moment, Icahn argued, now is the time for Cook to push for a stock buyback of as much as $100 billion.
Updated 5 Years ago

The era of one dominant bond fund may be ending with Bill Gross’s sudden exit from Pacific Investment Management Co. It’s unlikely that any other actively managed bond fund will soon get as big as Pimco’s $200 billion Total Return (PTTRX) Fund - - which has lost billions of dollars to competitors since Gross’s departure. DoubleLine Capital LP, one beneficiary of the exodus, has said it will stop new money from coming into its total-return bond fund well before it reaches $100 billion because that kind of size can hamstring performance.
Updated 5 Years ago