News

  Sharjah / Emirates Business Air Arabia (PJSC) on Thursday announced full-year financial results for 2016 as the Middle East and North Africa’s first and largest low-cost carrier continued to deliver healthy growth and strong levels of profitability despite challenging market conditions. Air Arabia’s net profit for the full year ending December 31, 2016 was AED 509 million, a 4 ...

  Dubai / Emirates Business Danube Properties, the property arm of UAE-Based Danube Group, announced that 95 percent of the recently launched Miraclz project has been sold, at a press conference held at the Grand Hyatt Hotel. The event was held in the presence of Sushmita Sen, who is a renowned Indian actress and is the face of Danube Group, ...

  ABU DHABI and NEW YORK / Emirates Business Etihad Airways on Thursday announced the launch of ‘Runway to Runway,’ a unique rewards programme specially designed to support the fashion community’s international travel requirements. Since announcing its fashion partnership with IMG in 2016, Etihad Airways has worked with the company and its fashion industry network to develop a bespoke membership ...

  Dubai / Emirates Business The UAE is among the world’s top countries in using e-government services to drive economic competitiveness and citizen happiness, experts announced ahead of the World Government Summit. Already the UAE is making strong progress in its information management, ranking in the Top 30 in the world in e-government effectiveness, and the top in the Middle ...

  Abu Dhabi / Emirates Business Abu Dhabi played host to the 2017 Red Bull Air Race season opener for the tenth time in a row, in what turned out to be as exciting a race as the capital had ever seen. The decade-defining race was brought to the UAE in partnership with the Abu Dhabi Sports Council, which hosted ...

  Sharjah / Emirates Business Sharjah Book Authority (SBA) announced receiving 1,500 works of art from 44 countries for the sixth edition of the Sharjah Children’s Books Illustrations Exhibition, which takes place in April. Organised by SBA as part of the Sharjah Children’s Reading Festival, this year’s exhibition has attracted 9% more works compared to last year, which saw 1,378 ...

  Bloomberg Intel Corp. Chief Executive Officer Brian Krzanich said the semiconductor maker will invest $7 billion to complete a chip factory in Chandler, Arizona, becoming the latest company to use a meeting with President Donald Trump to tout spending and job-creation plans that were already in place. Krzanich, speaking in the Oval Office, called the investment an expansion of ...

  Bloomberg Germany posted a record trade surplus in 2016, which may further fuel accusations by the Trump administration that Europe’s largest economy is exploiting a “grossly undervalued” euro. Exports climbed 1.2 percent last year to 1.2 trillion euros ($1.3 trillion), the Federal Statistics Office in Wiesbaden reported on Thursday, while imports rose 0.6 percent to 954.6 billion euros. That ...

  Bloomberg Home price gains accelerated in the fourth quarter, with increases reported in 89 percent of US metropolitan areas, as competition heated up for a record-low supply of listings, the National Association of Realtors said. The median price of an existing single-family home rose from a year earlier in 158 of the 178 areas measured, the group said in ...

  Bloomberg Nokia Oyj agreed to buy Comptel Oyj for 347 million euros ($370 million) to add technology that helps phone carriers manage their networks, part of a push into software and services as network-gear sales sputter. Comptel shareholders will get 3.04 euros a share in cash, Espoo, Finland-based Nokia said in a statement Thursday. That’s 29 percent more than ...