News

  Dubai / Emirates Business UAE food sales are projected to grow by an annual average of 7.3 percent ($16.7bn) between 2015 and 2020, according to a new BMI report commissioned by Dubai World Trade Centre (DWTC) and released in tandem with the opening of its annual trio of specialist foods shows, which run until November 9. In addition to ...

  Dubai / Emirates Business The Foreign Exchange and Remittance Group (FERG), comprising businesses engaged in money exchange and remittances, has recorded a 10-15% increase in foreign currency exchange transactions for 2016 compared to the same period last year. Data compiled by the organisation from the ledgers of member exchange houses also shows a spike in foreign exchange purchase transactions ...

  Sharjah / WAM More than 650,000 visitors have attended the first four days of this year’s Sharjah International Book Fair (SIBF) a record in its 35-year history. Data indicates that the current edition of the fair, which concludes next Saturday at Expo Centre Sharjah, will break the record for overall number of visitors at a single edition, surpassing last year’s ...

  Dubai / WAM The Department of Economic Development (DED) in Dubai, announced its support to the ‘GCC Manufacturing Excellence and Technology Summit’, which will focus on different methods to effectively manage the challenges in achieving operational efficiency and excellence in manufacturing. Saed Al Awadi, CEO of Dubai Exports, the export promotion agency of DED, and Brad Hariharan, Regional Director of ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) announced the achievements made by the Shams Dubai initiative as of October. DEWA launched the Shams Dubai in adherence with the Smart Dubai initiative, which was launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make ...

  Frankfurt / AFP German prosecutors probing whether Volkswagen executives manipulated the markets in the wake of the “dieselgate” scandal have widened their investigation to include the chairman of the group’s supervisory board, the auto giant said on Sunday. “The proceedings refer to the period during which (chairman) Hans Dieter Poetsch served as the group chief financial officer,” VW said ...

  Bloomberg WeWork Cos. built its brand on the hustling energy of small startups, but the company is finding that boring corporate giants may be finally ready to embrace the idea of renting a desk next to a stranger. In the last year, WeWork has established a new team that caters to the needs of large companies. The New York ...

  Bloomberg Millions of Americans have gone back to work since the last recession. Now they’re finally getting some decent pay raises. Average hourly earnings of workers climbed 2.8 percent in October from a year earlier, the fastest pace in seven years, Labor Department figures showed Friday in Washington. Rising wages are encouraging people to look for greener pastures: Among ...

  Bloomberg Tesco Bank, the lending arm of the UK grocery chain, blocked some of its customers’ cards after receiving complaints of as much as 600 pounds ($750) being taken from accounts fraudulently. Fraud prevention systems identified suspicious activity on Saturday, the bank said. As a precautionary measure it blocked some customer cards and sent text messages to notify those ...

  Bloomberg Mobile Telecommunication Co. is considering introducing new services such as fiber-optic internet access in Saudi Arabia after winning an upgrade to its license, a move that would bring the scope of its offerings nearer to larger Saudi Telecom Co. Saudi Arabia’s third-largest phone operator “has the most to gain” from a licensing change by the government because it ...