News

  Dubai / Emirates Business Mashreq, the UAE’s market leader in innovation, has been conferred EFMA’s ‘Innovation of the Month’ award for its latest innovation Mashreq Bot, an Artificial Intelligence agent or chat-bot – programmed to enable an intelligent conversation with users. The UAE’s First chat-bot allows customers to review Mashreq products, perform card-less cash transactions, low ticket local transfers ...

  Dubai / Emirates Business As part of its efforts to support and promote the UAE’s Year of Giving, Dubai Chamber of Commerce and Industry has announced that it has expanded its activities under the national framework to its representative office in Baku. During a visit to the city’s Foreign Languages Gymnasium, representatives from the Chamber’s Azerbaijan office donated educational ...

  Reuters A plunge in Saudi Arabia’s inflation rate, to its lowest level in more than 10 years, is good news for the kingdom’s efforts to reduce a huge state budget deficit without stifling economic growth. Annual consumer price inflation slowed to 1.7 percent in December from 2.3 percent in November, the Central Department of Statistics reported on Monday. On ...

  Bloomberg Taxes are anything but certain for Indian Prime Minister Narendra Modi. Faced with a slump in demand after his shock clampdown on cash, he’s expected to lower taxes in the February 1 budget to spur consumption. The risk is that a cut will rob Modi of a short-term revenue spurt, which his administration had been touting as proof ...

  Bloomberg India trailing Spain on the sovereign ratings tables makes no sense to Aberdeen Asset Management Plc, which calls the delay in acknowledging the Asian economy’s improving outlook staggering. With India “isolated” and less threatened by possible protectionist measures by US President Donald Trump, Aberdeen is overweight on the country and its local companies, said Hugh Young, the firm’s ...

  Bloomberg Guangzhou Automobile Group Co., which produces cars in China with Fiat Chrysler Automobiles NV, plans to start exporting its own brand of automobiles to the U.S next year and become the first Chinese carmaker to begin retail sales to American consumers. GAC, which created its Trumpchi brand in 2010 after being a production partner for foreign carmakers for ...

  Bloomberg China has defied the skeptics once more, weathering stock market wobbles and a weakening currency and shaking off a deflationary scare to post 2016 growth that’s almost certain to land smack in the middle of the government’s target range. The stabilization has come at a cost as cheap credit fueled property bubbles in major cities, spurring policy makers ...

  Bloomberg It was the battery, after all. In a presentation and news conference on Monday that lasted more than two hours, Samsung Electronics Co. detailed the results of its investigation into Note 7 smartphones that overheated and burst into flames last year. There were few surprises. While the company cited flaws in battery manufacturing and design for the fiasco, ...

  Bloomberg Steps to cool China’s property market are stoking speculation the good times are about to end for developer bonds offshore. The hangover would be big. Yield-starved fund managers around the world have piled into the $65 billion market for dollar-denominated notes sold by Chinese builders. There is plenty of scope for pain after yield premiums for lower-rated US-currency ...

  Bloomberg Consumer prices in Singapore rose in December for the first time in more than two years, adding to signs of recovery in the city-state’s economy. CPI rose 0.2 percent from a year earlier, compared with unchanged prices in November. The median estimate of 16 economists in a Bloomberg survey was for a 0.1 percent gain Prices increased 0.2 ...