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UAE, China to strengthen cooperation
BEIJING/AJMAN: Under the umbrella of the Ajman Chamber, a delegation of the businessmen from the emirate of Ajman representing seven major companies in the building and construction field visited Hunan Province-China to strengthen the co-operation between the two sides in several sectors. The visit also comes to explore the investment opportunities available in order to increase the trade volume between Ajman and Hunan, as well
 
 
India’s equity indices close in red on weak global cues
Mumbai: The key Indian equity indices on Wednesday provisionally closed in the negative territory following weak global cues, along with heavy selling pressure in the banking, consumer durables and capital goods stocks. According to market observers, investors were cautious ahead of April derivatives expiry on Thursday. On Wednesday, the wider Nifty50 on the National Stock Exchange provisionally closed (at 3.30 pm) at 10,570.55
   
Sterlite Tech’s fourth quarter net profit up 77 per cent
Mumbai: Global technology company Sterlite Technologies on Wednesday reported a rise of 77 per cent in its net profit for the fourth quarter of 2017-18. According to the company, its net profit rose to Rs 112 crore during the quarter under review from Rs 64 crore reported for the corresponding period of the previous financial year. The company’s Q4 revenue increased to 20 per cent to Rs847 crore from Rs707 crore earned in the
 
 
Udrive expands its offerings to commuters in Abu Dhabi
Abu Dhabi: Udrive, a dedicated pay-per-minute car rental service opened its services to residents and visitors of Abu Dhabi. As a launch offer, all customers will be allowed a free drive up to a maximum of four hours on April 24-26. The new service is in line with the Department of Transport’s plans to enhance and develop the transportation network and infrastructure in Abu Dhabi. In the initial roll-out, Udrive will provide
   
Bharti Infratel, Indus to merge, form world’s No.2 telecom firm
BENGALURU/MUMBAI: India’s Bharti Infratel Ltd said it has agreed to merge with Indus Towers, in a deal that creates the world’s No. 2 telecom tower company with an estimated equity value of $14.6 billion. Seeking to capitalise on rapid growth in smartphone usage in the country, the transaction, which values Indus Towers at roughly $10 billion, will create an infrastructure giant with more than 163,000 towers, lagging only China
 
 
Saudi Aramco, Pearl host ‘Governance in Focus’ forum
Riyadh: Saudi Aramco has co-hosted the “Governance in Focus” forum with the UAE-based Pearl Initiative at the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Riyadh, under the patronage of Khalid Al-Falih, Saudi Arabia’s Minister of Energy, Industry, and Mineral Resources. Addressing an audience of business leaders, executives, officials and experts, Amin Nasser, President and CEO of Saudi Aramco, said:
   
Gwadar soon to become an ideal economic zone
GWADAR: For over a decade, Pakistani officials have dreamed of transforming the strategically located fishing port of Gwadar into an ideal duty-free port and free economic zone. The aim is for Gwadar to become a regional commercial, industrial and shipping hub, as part of the ambitious China Pakistan Economic Corridor (CPEC) project. The corridor is designed to give China a shorter, more secure trading route, via Pakistan, to
 
 
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