News

  Abu Dhabi / WAM The number of red signal accidents at the intersections in the Emirate of Abu Dhabi had declined by 29 percent in the past eight months this year to 54 traffic accidents compared to 76 in the same period last year. Brig. Ali Khalfan Al Dhaheri, Director-General of Central Operations at Abu Dhabi Police, said that the ...

  Dubai / Emirates Business The need for a standardised Halal food sector was highlighted in the recent Global Islamic Economy Summit, where it was revealed that the global Muslim population has the highest spending on food and beverage. HE Mohammed Saleh Badri, Secretary-General of International Halal Accreditation Forum, noted that the Halal food sector is growing at a remarkable ...

  Bloomberg Egypt has been facing a shortage of sugar for weeks as a currency crunch and rising global prices curbed imports. Authorities have accused traders of hoarding, and seized stocks from companies including Edita Food Industries — one of Egypt’s largest producers. With inflation at a seven-year high, the sugar crisis is making it harder for the government to ...

  Bloomberg China’s steel juggernaut is picking up speed closer to home. As governments in Europe and the U.S. limited supplies of Chinese metal they said was dumped on the market, the world’s largest producer is expanding exports to its neighbors in Southeast Asia. A third of all Chinese shipments now end up in countries like Vietnam, Thailand and the ...

  Bloomberg South Korea’s economy grew slightly more than forecast in the three months through Sept. 30, supported by a property market boom, while exports and consumption were disappointing. Gross domestic product expanded 0.7 percent in the third quarter from the previous three months, when it gained 0.8 percent; Estimate was for a 0.6 percent increase. The economy expanded 2.7 ...

  Bloomberg Xiaomi Corp., once the biggest smartphone vendor in China, unveiled its most expensive handsets as it seeks to recapture sales with a push into high-end devices. The Mi Note 2, sporting a curved screen similar to Samsung’s Galaxy Edge, sells for as much as 3,499 yuan ($516), co-founder Lei Jun said in Beijing Tuesday. It also showed off ...

  AFP Family patriarch Ratan Tata sought to reassure rattled investors of stability at India’s biggest conglomerate Tuesday after the sudden sacking of chairman Cyrus Mistry sent Tata company shares falling. Seventy-eight-year old Tata has taken interim charge of the sprawling $100 billion tea-to-steel Tata Group, after Mistry was abruptly dumped on Monday evening, four years after being appointed chairman. ...

  Bloomberg The US will capture a higher share of the global wheat market this season as poor weather that’s hurt French and Canadian crops helps the second-largest exporter step up shipments from a 44-year low last season. US wheat exports are forecast to rebound 26 percent in the year that began June 1 to 26.5 million metric tons, according ...

  Bloomberg Germany’s economy is on track for more robust growth. Business confidence rose to the highest level in more than two years in October, the Munich-based Ifo institute said on Tuesday. This adds to signs of renewed growth momentum in Europe’s largest economy, after uncertainty related to the U.K.’s vote to leave the European Union contributed to a temporary ...

  Bloomberg Moscow’s Sheremetyevo airport, the largest in Russia, has invested $865 million into building a new terminal and expanding its operations ahead of the 2018 World Cup, its chief executive said on Tuesday. “We can say with certainty that the construction is moving along according to our deadlines and ahead of schedule in certain cases,” Sheremetyevo’s CEO Mikhail Vasilenko ...