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Mohammed announces National Giving Retreat on February 1

  Dubai / WAM In line with the President His Highness Sheikh Khalifa bin Zayed Al Nahyan’s declaration of 2017 as the national Year of Giving, Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on saturday called for a national ‘Giving Retreat’ on February 1. The retreat will bring together over 100 cabinet ...

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Trump bars refugees entry for 4 months, citing terrorism

  WASHINGTON / AP President Donald Trump has barred all refugees from entering the United States for four months, and indefinitely halted any from Syria, saying the ban is needed to keep out “radical terrorists.” The order immediately suspended a program that last year resettled in the US roughly 85,000 people displaced by war, political oppression, hunger and religious prejudice. ...

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Global tourism to reach 1.5bn by 2020

  Dubai / Emirates Business A surge in consumer demand for knowledge of food origin and source is now a key factor for successful sales and marketing in the global food industry, according to the latest research. A survey by Opinion Matters found that a food’s ‘origin’ is now second on a consumer’s list, behind only sell-by dates, when it ...

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India’s mobile phone price war triggers consolidation

  Bloomberg Executives atop India’s mobile-phone industry foresee a consolidation that could knock Bharti Airtel Ltd. out of first place in the $26 billion market. The catalyst: free calls and industry debt that has ratcheted up to more than double revenue. Billionaire Mukesh Ambani escalated a price war in September, vowing to reorder the market and luring tens of millions ...

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Gold exports to China soar in run-up to Lunar New Year

  Bloomberg Gold exports to China soared in the run-up to the start of the Lunar New Year, with volumes increasing in December from major suppliers Switzerland and Hong Kong. More gold was sent from Swiss refiners to the world’s top consumer than in any month since at least January 2014, according to data on the website of the Swiss ...

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Biggest USA takeover in China in decade hangs on board spat

  Bloomberg Air Products & Chemicals Inc. has hit a bump as it attempts the largest US takeover of a Chinese firm in more than a decade, stymied by an extended boardroom battle at Yingde Gases Group Co. A divided board of the Hong Kong-listed firm failed to agree on a panel needed to review the offer, but has asked ...

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SK Hynix profit tops estimates on surging memory-chip prices

  Bloomberg SK Hynix Inc., a supplier of memory chips to Apple Inc., posted fourth-quarter profit that topped analysts’ estimates as semiconductor prices surged on robust demand for bigger storage in mobile devices and computers. Operating profit rose 55 percent to 1.54 trillion won ($1.3 billion) in the three months ended December, the Icheon, South Korea-based company said in a ...

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Trade tensions put America’s growth momentum at risk

  Bloomberg The US economy entered 2017 with a solid head of steam, driven by consumer spending and a pickup in business investment. President Donald Trump’s stoking of trade tensions puts that momentum at risk. Fourth-quarter figures released on Friday showed how swings in trade can have big effects: Net exports subtracted 1.7 percentage points from gross domestic product, the ...

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Intel projects sales growth on data centers, PC demand

  Bloomberg Intel Corp, the biggest maker of semiconductors, predicted first-quarter sales that will meet analysts’ estimates on improvements in the personal computer market and continued growth in orders from data center owners. Revenue will be $14.8 billion, plus or minus $500 million, the Santa Clara, California-based company said Thursday in a statement. Analysts had projected $14.5 billion, the average ...

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UAE, India to boost bilateral trade by 60% in next 5 years

NEW DELHI / WAM The State Visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to India from 24th to 26th January as the Chief Guest of India’s 68th Republic Day celebrations marked a momentous occasion in relations between India and the UAE, said a ...

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