News

  Sharjah / Emirates Business The mobile library of Knowledge without Borders (KwB) — the Sharjah-based cultural project — has concluded its visits for the first five months of the year. A major component of KwB’s strategy to bring reading within reach of all, the library’s 2016 tour schedule to date has seen it visit almost 250 locations in the ...

  Ritika SHARMA / Emirates Business UAE is home to thousands of expats from nearly 200 countries, who increasingly rely on cargo services to send their stuff homes. It involves transactions worth millions of dirhams every month. Treading an innovative business model, a leading cargo company here has introduced a stress-free option for customers to convert the huge billing amount ...

  Sunaina Rana / Emirates Business E-commerce has become one of the biggest business trends in the UAE, of which mobile commerce is an integral part. According to a recent study conducted by Criteo, mobile was the most preferred device for business during the Ramadan season, with a 44% rise in spending two weeks prior to Ramadan, to 49% by ...

  Dubai / Emirates Business ENOC Lubricants Marketing, a division of Emirates National Oil Company (ENOC), discussed the importance of strengthening the division’s presence across international markets through maintaining strategic business associations with key partners at the ENOC Annual Distributors’ Meet, recently held in Shehzen, China. Considered as one of the sterling success stories of UAE entities going international, ENOC ...

  Bloomberg Chancellor of the Exchequer George Osborne hit back at claims he’s scaremongering in his campaign to keep Britain in the European Union, saying “there is a lot to be scared about.” Osborne rejected accusations he had misrepresented Treasury analysis of the consequences of a vote to leave the EU on June 23 and overstated the impact of an ...

  Bloomberg The U.K.’s 10-year government bond yield dropped to a record before an auction of index-linked debt, the final sale before the nation’s referendum on European Union membership. The yield could fall further to 1 percent in the event that the U.K. votes to leave the world’s biggest single market on June 23, according to Daniela Russell, a portfolio ...

  Bloomberg A U.K. vote to leave the European Union could cut gross domestic product of the Netherlands by €10 billion ($11.4 billion) by 2030 due to an increase in the cost of trade, having a “relatively severe effect” on the economy, the Dutch planning agency said. Assuming that trade also fosters innovation, Brexit-related costs could increase another 65 percent, ...

  Bloomberg Pro-EU forces have warned that if Britain votes to exit the union on June 23, the country could lose almost a million jobs. Recruiters say the damage has already begun. “Companies are pushing the pause button,” said Kit Bingham, a partner at executive search firm Odgers Berndtson. An Odgers poll last month found that a quarter of directors ...

  Bloomberg Dong Energy A/S became Europe’s biggest initial public offering this year, with investors lining up to own shares in the Danish utility as it transforms itself into a renewable energy giant. The world’s biggest offshore wind-park operator sold 17.4 percent of its shares at 235 kroner a piece, raising 17.1 billion kroner ($2.6 billion), according to a statement ...

  Bloomberg The European Central Bank bought notes in the region’s corporate bond markets for a second day. Purchases included securities issued by troubled German carmaker Volkswagen AG; Continental AG, Europe’s second-biggest car-parts maker; and French mobile company Orange SA. ECB President Mario Draghi expanded the bond-buying program he started on Wednesday to stimulate the region’s flagging economy. He’s casting ...