News

  Dubai / Emirates Business Global developer Emaar Properties recorded a robust increase of 12 percent in net profit to AED 2.475 billion (US$ 674 million) in the first six months (January to June) of 2016, compared to the net profit of AED 2.205 billion (US$ 600 million) during the same period last year. The half-year 2016 revenue is AED ...

  Dubai / Emirates Business The DIFC Courts’ position as the region’s preeminent English-language business courts was reinforced in the first half of 2016, with the number and total value of cases continuing to increase strongly. The period was also notable for a significant increase in the number of enforcement cases, indicating the confidence business has in the DIFC Courts ...

  Abu Dhabi / Emirates Business Under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai, the UAE Space Agency will be hosting the inaugural Global Space Congress (GSC) in Abu Dhabi. As investments from the UAE in the space sector surpass 20 million AED, ...

  Dubai / Emirates Business The MENA region’s leading diversified real estate and property services company says Dubai is well on the way to a strong market recovery and that now is a good time to invest. Robert Welanetz, Chief Executive Officer of Majid Al Futtaim – Properties, the UAE-based developer of shopping malls, hotels and mixed-use living communities across ...

  AP China’s ambitions to become a pioneer in nuclear energy are sailing into troubled waters. Two state-owned companies plan to develop floating nuclear reactors, a technology engineers have been considering since the 1970s for use by oil rigs or island communities. Beijing is racing Russia, which started developing its own in 2007, to get a unit into commercial operation. ...

  Bloomberg Investors led by Chinese online games developer Shanghai Giant Network Technology Co. agreed to buy Caesars Entertainment Corp.’s online casino-style games unit Playtika Ltd. for $4.4 billion in cash, even as gambling remains illegal in the Asian country. The consortium includes Yunfeng Capital, the private equity company founded by Alibaba Group Holding Ltd. Chairman Jack Ma, China Oceanwide ...

AFP Veteran politician Yuriko Koike was elected on Sunday as Tokyo’s first woman governor, according to media exit polls, and immediately vowed to get a grip on the megacity’s troubled 2020 Olympic preparations. Public broadcaster NHK, Jiji Press and other major media forecast the 64-year-old Koike as the winner just after polls closed at 8 pm (1100 GMT). Koike is ...

  Bloomberg Chinese billionaire Jack Ma wants to pry the lid off China’s opaque charities. Ant Financial, the affiliate of Alibaba Group Holding Ltd. he controls, is using the technology behind bitcoin to record transactions and improve the accountability of the country’s philanthropic organizations. The company began a tamper-proof ledger based on blockchain technology to record donations made by its ...

  Madrid / AFP Luis Lag is one of thousands of Spaniards who went abroad during the crisis. This “very good decision” allowed him to find a better job when he eventually came back. But many others who left their country in search of work are still unable to return home due to Spain’s sky-high unemployment. Before leaving in 2011, Lag ...

  London / AFP The billionaire owner of the Topshop clothing chain on Saturday accused a leading British MP of running a “kangaroo court” after the tycoon was slammed over the collapse of department store chain BHS. Philip Green wrote a letter to Frank Field, saying that he had led a campaign against him culminating in the publishing of a report ...