News

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) announced an exciting new collaboration with Bollywood superstar Shah Rukh Khan. The project, comprising a series of short films, will see the actor unravel the secrets of Dubai, offering his fans a chance to see the exquisite city through the megastar’s eyes. Already well acquainted with ...

  Dubai / Emirates Business In a survey conducted by VIS, the organisers of Middle East Cleaning Technology Week (MECTW) UAE residents have their vehicles professionally cleaned on average three times a month. Emiratis on average have their automobiles cleaned four to five time a month. With the average cost of cleaning a car varying from AED 35 to AED ...

  Bloomberg Egypt’s prime minister tried to reassure an anxious public as Egyptians expressed alarm and anger over prices that swiftly soared a day after the nation’s currency was floated, sending its value tumbling as fuel subsidies were cut. In the capital’s working class district of Imbaba, residents spoke of a sudden spike in transportation and food prices, mainly because ...

  AFP Kuwait will issue billions of dollars worth of bonds in international markets to finance a budget deficit resulting from low oil prices, a report said Saturday. Finance Minister Anas al-Saleh said Kuwait will issue US dollar-denominated sovereign bonds of up to $9.6 billion during the 2016/2017 fiscal year which ends March 31, Al-Qabas newspaper reported. This comes on ...

  Bloomberg The Libyan Investment Authority tried to resurrect its lawsuit against Goldman Sachs Group Inc. by adding new accusations of bribery, less than a month after a crushing courtroom defeat in London. But Judge Vivien Rose said at a hearing that the appeal had no chance of success and ordered the sovereign wealth fund to pay Goldman at least ...

  Bloomberg India has backed a multi-tier national tax regime that even in its not-so-perfect form will be a game-changer for Prime Minister Narendra Modi, who is trying to revive manufacturing and boost foreign investment in the world’s fastest growing major economy. Moving away from the ‘one market, one rate’ tax model, the Goods and Services Tax Council decided on ...

  Bloomberg China’s drive to reduce overcapacity and streamline its coal industry has sent prices of the bulk commodity soaring. Efforts initially aimed at reversing a four-year collapse and help miners repay debts have pushed coal higher and faster than anyone anticipated. The fuel burned in power stations has doubled, while the coal used in steel making has more than ...

  AFP Ousted Thai PM Yingluck Shinawatra doled out sacks of rice to hundreds of star-struck shoppers on Saturday, in her latest move to outshine junta efforts to support farmers hit by a price plunge. Tumbling rice prices have spread anguish across Thailand’s rural heartlands and sent the junta scrambling to roll out rescue packages and head off potential unrest. ...

  AP Even for a city considered one of the world’s most polluted, the Indian capital hit a new low this past week. Air so dirty you can taste and smell it; a gray haze that makes a gentle stroll a serious health hazard. According to one advocacy group, government data shows that the smog that enveloped New Delhi was ...

  Bloomberg NetSuite Inc. shareholders endorsed Oracle Corp.’s bid for the software provider, clearing the path for the $9 billion acquisition after weeks of conflict between a large investor and executives over the price tag. The deal received approval from 53 percent, or 21.78 million shares, of NetSuite stockholders that were eligible to endorse the bid, Oracle said in a ...