News

Bloomberg Infosys Ltd. Chairman Nandan Nilekani moved to reassure investors and employees after a dramatic coup by the firm’s founders this week in which they ousted four directors and took back control of the troubled Indian IT company. “I want to put this company on the right stable path,” Nilekani, 62, said. “I plan to be here as long as ...

Bloomberg Speculators thinking Lee Jae-yong’s sister, Lee Boo-jin, could take the family mantle, are making a bet Samsung will stray from the tradition of male-dominated succession at the country’s chaebol. But Samsung has broken away from tradition to better the business before and Boo-jin already advises and owns 5.5 percent of holding company Samsung C&T Corp. She’s also proven her ...

Dubai / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, unveiled the blueprint for Dubai Food Park (DFP), the latest addition to Dubai Wholesale City (DWSC). To be developed at a cost of $1.5 billion, it will be the first destination in the Middle East dedicated to serving ...

Abu Dhabi / WAM A total of 17.815 million cheques worth AED886.7 billion have been handled by the Cheque Clearing System during the first seven months of 2017, UAE Central Bank announced on Wednesday. The number of cheques cleared during July reached 2.66 million worth AED131.7 billion, a growth of 4.7% over June during which cheques worth AED111.3bn were cleared. ...

Bloomberg President Donald Trump, speaking on Tuesday night in Arizona near the Mexican border, said it looks inevitable the US will pull out of the North American Free Trade Agreement (Nafta). It’s a now familiar threat — but no less concerning given the US just this week wrapped up the first round of negotiations with Mexico and Canada to revise ...

HONG KONG / WAM As part of its mandate to facilitate trade from Dubai and create an enabling environment for Dubai’s exporters, Dubai Exports, the export promotion agency of Dubai Economy, has expanded its network with the opening of a new overseas trade office (OTO) in Hong Kong. The Hong Kong office, the 7th in its growing international network for ...

ABU DHABI / WAM Etihad Airways has been announced as the official airline sponsor of WorldSkills Abu Dhabi 2017 the biggest vocational education and skills excellence event in the world. The event will bring more than 3,000 competitors and industry experts from up to 75 countries to the Abu Dhabi National Exhibition Centre, ADNEC, from October 14-17. The 44th edition ...

Sharjah / Emirates Business The second and concluding day of the Sharjah FDI Forum 2017, scheduled to take place on 20 September, 2017 under the patronage of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah, will address current dominant economic trends, sustainable economies, the impact of technology on education, small enterprises ...

Emirates Business NMC Health plc (LSE:NMC) (‘NMC’), the leading integrated private healthcare network operator in the GCC region including United Arab Emirates and one of the leading global providers of fertility treatments through its European, South American and Middle Eastern subsidiaries, announced its interim results for the six months ended June 30, 2017. The net profit in H1 2017 reached ...

ABU DHABI / WAM UAE stock markets were back in the green Wednesday thanks to a streak of selective buys of blue chips at the property and banking sectors, with ADX General Index closing high 0.30 percent at 4487 points, despite the tranquil start of trading. DFM General Index followed suit, closing at 3624, a growth of 13 points over ...