News

  Bloomberg South Africa delayed plans to build nuclear power plants as economic growth stalls, easing spending concerns as the country faces the risk of being cut to junk by credit-rating companies. The rand strengthened the most of major currencies against the dollar. The new timeline sees the first additional nuclear power plant coming on stream in 2037, compared with ...

  Bloomberg Edcon Holdings Ltd. returned to profit in the second quarter after debt repayment costs eased following the exit of US private equity firm Bain Capital, while South Africa’s biggest clothing retailer cleared unwanted stock to boost sales during the busy festive period. Net income for the three months through September was 163 million rand ($11.5 million), the Johannesburg-based ...

  New Delhi / AFP Ratings agency Fitch said Tuesday it would revise down its India growth forecasts for the fourth quarter of 2016 after the country’s shock move to pull most of its currency out of circulation. Fitch Ratings said the move, aimed at forcing Indians to declare their untaxed money, had created a cash crunch that “seems to ...

  Bloomberg A small Japanese company that specializes in rubber masks has been unable to deal with a sudden surge in demand for Donald Trump masks since his surprise victory in the US. presidential election on November 8. “We can’t keep up with demand—it will take us until mid-December to catch up with the orders we have now,” Takahiro Yagihara, ...

  Beijing / AFP German auto giant Daimler said on Tuesday it removed a top executive of its China trucks and buses unit, after his allegedly racist remarks in a parking row became national news. Rainer Gaertner, president and CEO of Daimler Trucks & Buses China, got into an argument with a local driver after seizing the parking spot he ...

  Dubai / Emirates Business The Arab-Brazilian Chamber of Commerce (ABCC) has recently noted the significant growth in construction material exports to the Arab World. The strong numbers indicate that the UAE is a leading country for Brazilian exports in 2016 with US$15.69 million recorded for the year alone so far. This reflects the strong trade relations between Brazil and ...

  Abu Dhabi / Emirates Business Etihad Airways Engineering has opened its hangar doors to some of the UAE’s brightest minds as part of its drive to attract university students from different disciplines to consider a career in aerospace engineering. Around 50 students from Khalifa University and Higher Colleges of Technology (HCT) in the UAE have visited the Etihad Airways ...

  Dubai / Emirates Business Investing in private education organisations as well as cooperating with them on new regulations will facilitate the growth of quality education in the MENA region. That is the message that has been delivered by senior representatives at the Knowledge and Human Development Authority and international education experts to regional education professionals on the opening day ...

  Dubai / Emirates Business Smart Deal Events will organize Raag Tarang, on November 24 at Al Nasr Leisure land, Dubai. Rag Tarang is a fusion of ‘Bollywood Music and Dance Show’, uniquely positioned in Dubai’s Events calendar just before the National Day Celebrations week. Current Bollywood heartthrobs, Mohammed Irfan, male play back singer of Salman Khan Starrer Kick and ...

  Dubai / Emirates Business Dubai Wholesale City, the global integrated wholesale trading hub, and a member of TECOM Group, announced the beginning of excavation works during a ceremony that was attended by Abdulla Belhoul, Chief Executive Officer of Dubai Wholesale City, as well as representatives from TECOM Group; senior officials, employees of Dubai Wholesale City and representatives from the ...