Bloomberg Shoprite Holdings Ltd. has been found guilty of reckless lending after a South African regulator ruled that the continent’s largest supermarket chain hasn’t been properly assessing shoppers before extending credit. The retailer was fined 1 million rand ($77,425), the National Credit Regulator said in an emailed statement on Wednesday. Among other discrepancies, the Cape Town-based company took into account ...

Bloomberg Cathay Pacific Airways Ltd., Asia’s biggest international carrier, is in talks with its pilots over compensation as it seeks to cut costs after reporting its worst half-half loss in at least two decades. The airline has been in discussions with its pilots over the past few months as part of its goal to become more competitive, the company said ...

Bloomberg Your next business trip to Singapore could see you breezing even more quickly through checkpoints at the world’s best airport as early as next month. Changi Airport will start operating its newest Terminal 4 on October 31, featuring automated check-in kiosks with facial-recognition software and the use of tomography scanners, which allow laptops to remain in bags during security ...

ABU DHABI / WAM The net income of Abu Dhabi-based commercial banks amounted to AED9 billion during Q2 2017, a growth of 4.1 percent from AED8.64 billion during the corresponding period in 2016. Net interest income amounted to AED5.268 billion during Q2 of 2017, accounting for 58.5 percent of commercial banks’ net income in the Emirate, according to the Statistics ...

FUJAIRAH / WAM Foreign investments in the Fujairah Free Zone amounted to more than AED8 billion, with FFZ Authority accommodating more than 3500 companies from over 44 countries. Sharief Habib Al Awadhi, Director General, FFZA, has stated, “FFZ is witnessing growing demand on the part of investors wishing to establish different types of projects, especially in the oil and logistics ...

DUBAI / Emirates Business Shuaa Capital announced that its real estate asset management division will be managing the development of a new mixed-use AED1.5bn skyscraper on Sheikh Zayed Road, Dubai. The project, details of which will be unveiled at next week’s Cityscape Global Conference and Exhibition in Dubai, is intended to serve the ever-growing demand in the UAE’s residential, tourism ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Tuesday chaired a brainstorming session with his team. The session was attended by HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the ...

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has praised the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to unify the country’s education system and standardise the model of the Emirati school on a national level. “The requirements of the labour market are witnessing rapid ...

NINGXIA / WAM The UAE is participating with a high-level delegation in the China-Arab States Expo to be held in Yinchuan, capital of northwest China’s Ningxia Hui Autonomous Region, from September 6-8. Juma Mohamed Al Kait, Assistant Undersecretary for Foreign Trade Affairs at the Ministry of Economy, who is leading the UAE delegation, has underscored the significant importance of the ...

Dubai / Emirates Business Experts in diverse aspects of energy management will converge in Dubai for the sixth Annual EmiratesGBC Congress on October 17 and 18 to discuss strategies for promoting sustainable built environments. Organised by Emirates Green Building Council (EmiratesGBC), an independent forum aimed at conserving the environment by strengthening and promoting green building practices, the annual Congress will ...