In The News

Slow and steady recovery for container shipping The outlook for the container shipping market in 2018 and 2019 is a combination of healthy demand growth that will outpace the fleet; resulting in a better supply-demand balance and slightly higher freight …

PAKISTAN: Govt to set up a $75 million fund for giving loans to entrepreneurs: The government, through State Bank of Pakistan (SBP), is setting up a fund for startups in the country. Startups and budding businesses will not be getting …

Bahrain takes giant discovery of 80bn barrels of oil Bahrain announced on Wednesday the size of the oil reserves in the giant discovery that it had made, and figures dwarf the proved reserves that the island kingdom in the Persian …

Aldar unveils homes on reem island Aldar Properties on Saturday announced the launch of Reflection – a Dh440 million residential development on Reem Island. The Abu Dhabi-based developer said sales for Reflection will commence on March 31 at Aldar’s sales …

CEA Arvind Subramanian says need clear protocol for sharing GST data Chief Economic Advisor Arvind Subramanian made a case for developing a clear protocol for sharing of GST data with government departments, saying it is a reflection on state’s capacity …

Bureaucracy plans to stop fund release without project documents The bureaucracy has finally decided to meet all procedural requirements before disbursing funds under the prime minister’s directives, but it comes only after the budget for discretionary spending has surged to …

Greek shipping fleet hits all-time high mark Ongoing tax issues and economic woes at home have failed to slow the growth of the Greek-controlled merchant fleet which hit an all-time high last year in terms carry capacity. The Greek fleet …

PAKISTAN: Jazz and PTCL top PTA complaint charts again: Pakistan Telecommunication Authority (PTA) received 2,757 complaints from telecom consumers against different telecom operators including (cellular operators, PTCL, LDIs, WLL operators and ISPs) during February 2018. According to PTA data, Jazz …

World oil prices rise Oil prices rose on Thursday as the equities markets rallied and as market participants weighed a rise in US crude inventories and production against continued OPEC supply curbs. Prices for the more actively traded June Brent …

Adnoc signs dh4.3b concession deals with China oil giant The Abu Dhabi National Oil Company (Adnoc) announced on Wednesday that it had signed two offshore concession agreements valued at Dh4.3 billion with the China National Petroleum Corporation (CNPC), the world’s …