INTERNATIONAL.First, the bad news - China's constrained rare earth supplies will be an "irreversible trend" and prices will remain at high levels, according to Zhang Zhong, general manager of Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. Zhang should know, as his concern is China's leading rare earths producer - the Baatou mine produces more than 95 percent of China's production, while Chinese mines currently account for 97 percent of global supplies. The increase in global demand for rare earth metals has sent prices soaring in world markets. According to the China Nonferrous M
UAE. Emirates will drop 50 A350-900 airliners and 20 of the larger -1000, Airbus said in a statement. The order for aircraft due from 2019 was valued at US$16 billion at the list price when Emirates announced the deal in 2007.
UAE. The facilities will be used to refinance US$1.1 billion worth of existing financing that was put in place to finance expansion projects; The deal, which was brokered by BNP Paribas, was four times oversubscribed.
UAE. Family firms are the backbone of the Gulf economies, generating an estimated 80% of non-oil GDP; the next generation is going to inherit large often supra-regional businesses; Global statistics however suggest that only 15% generate value in their third generation.
SAUDI ARABIA. The venture, which may make its first investment before the end of the year, will target the advanced materials, sustainable energy, and information, communication and technology industries.
INTERNATIONAL. U.S. Secretary of State John Kerry pressed regional proxies to nail down a Gaza ceasefire as the civilian death toll soared, threatening to spread Israeli-Palestinian bloodshed to the occupied West Bank and Jerusalem.