News

  Bloomberg All Exxon Mobil Corp. had to do was run its Los Angeles-area refinery for 15 days before handing the keys to new owner PBF Energy Inc. That’s turning into a struggle. More than a month after Exxon restarted a key gasoline-making unit that was damaged in a blast last year, PBF still hasn’t taken control of the Torrance ...

  Bloomberg FedEx Corp. forecast an annual profit in line with analysts’ projections, excluding any effect from its recently completed purchase of Dutch shipper TNT Express for $4.8 billion. Earnings for the fiscal year ending next May will be $11.75 to $12.25 a share, the operator of the world’s largest cargo airline said in a statement. The company said it ...

  CAIRO / Reuters Egypt’s efforts to relieve a crippling dollar shortage are pushing it towards a sickly combination of rising prices and lower growth, undermining hopes for economic revival after years of political upheaval. Prices have soared since Egypt devalued its currency by 13 percent in mid-March to end speculation against the pound and ease a dollar shortage that ...

  Dubai / WAM The UAE Water Aid Foundation (Suqia), under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), organised a campaign to promote the Mohammed bin Rashid Al Maktoum Global Water Award (MBR Global Water Award) at universities across the UAE. The campaign was held at the American University in Dubai, United Arab Emirates University, ...

  Dubai / EMIRATES BUSINESS The Tejar Dubai entrepreneurship development programme, a Dubai Chamber of Commerce and Industry initiative, launched its 20th commercial project, Familia Emirati clothes store on Dubai-Oman Highway in Hatta recently. The new commercial project which is the 4th launched by Tejar Dubai this year has come as part of the entrepreneurship development programme’s efforts to support ...

  Dubai / EMIRATES BUSINESS Finance comparison site compareit4me.com reported impressive surges in the number of UAE residents researching the finer details of credit cards and personal loans in the first quarter of 2016, compared with the same period last year. The number of enquiries into mortgages that don’t require salary transfer were up by 450 percent, showing that people ...

  Dubai / Emirates Business GE (NYSE: GE) on Tuesday unveiled the UAE results of its 2016 Global Innovation Barometer, which explores how business leaders and members of the public perceive the opportunities for and barriers to innovation in a changing complex global environment. Now in its fifth year, the research surveyed 2,748 senior business executives and 1,346 informed publics ...

  Dubai / Emirates Business The board of directors of Smart Dubai Office (SDO) held its 5th meeting, which was presided over by H.E. Saeed Mohammed Al Tayer, chairman of the board, as part of its action to fulfil the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler ...

  Dubai / Emirates Business Global Village, the region’s leading family destination for cultural entertainment and shopping, held an entertaining and educational activation for more than 200 orphan children at Awqaf and Minors Affairs Foundation Headquarters in Dubai on June 20. The activation comes under Global Village’s continuous engagement with the Arab Reading Challenge as well as its diverse range ...

  Dubai / WAM The Roads and Transport Authority (RTA) has marked World Environment Day by holding an array of environmental events. The RTA’s Energy and Green Economy Team held several awareness workshops to highlight the concept of green economy and energy saving. During the events, several departments and teams were congratulated for their excellent performance in implementing RTA environmental policies ...