News

    Emirates Business The Telecommunications Regulatory Authority (TRA) launched the initiative, ‘In The Presence of a Book,’ which includes quarterly discussion sessions. Each session will highlight one book published locally and to be discussed in the presence of the book’s author, intellectuals and TRA employees, where attendees will have an open forum with the author. The initiative will be ...

  Beijing / AFP China’s total borrowings were more than double its gross domestic product (GDP) last year, a government economist said, warning that debt linkages between the state and industry could be “fatal” for the world’s second largest economy. The country’s debt has ballooned as Beijing has made getting credit cheap and easy in an effort to stimulate slowing growth, ...

  Seoul / AFP Samsung Electronics said on Thursday it had agreed to buy US cloud computing company Joyent — the latest in a series of start-up acquisitions aimed at strengthening the South Korean giant’s software capacity. The purchase of the San Francisco-based firm would provide Samsung with its own cloud platform to support its main mobile business and connect ...

  Beijing / AFP Chinese ride-hailing app Didi Chuxing, a bitter rival of US-based Uber, has raised $7.3 billion in one of the world’s largest private equity financing rounds, the company said on Thursday. Didi is locked in a war of attrition with Uber over drivers and riders but claims almost 90 percent of the market in the world’s most ...

  Colombo / AFP Sri Lanka’s cabinet approved the introduction of a capital gains tax for the first time in 14 years, as the island battles a revenue crisis that has forced an IMF bailout. Prime Minister Ranil Wickremesinghe’s tax plans come after the International Monetary Fund (IMF) this month released the first tranche of a $1.5 billion loan in ...

  Tokyo/ Bloomberg Toshiba Corp., the world’s biggest supplier of turbines used to produce electricity from the heat trapped underground, will expand its geothermal power business into operation and maintenance services as it aims to extend its lead in a global market dominated by a handful of competitors. “We are just doing turbines now but we want to take full ...

  Dubai / WAM The UAE’s solar power programme, the UAE Solar Programme of Activities (PoA), has been approved by the United Nations Framework Convention on Climate Change (UNFCCC) Executive Board. The PoA was initiated by Dubai Electricity and Water Authority (DEWA) in collaboration with Dubai Carbon Centre of Excellence, Dubai Carbon, to promote the development of solar power in the ...

  Dubai / Emirates Business Dubai Parks and Resorts, set to become the Middle East’s largest integrated theme park destination on its opening in October this year, announced that it has appointed 744 Emirati employees since the launch of its ambitious Emiratisation programme which aims to hire 1,000 UAE nationals. This announcement follows a highly successful three-day attendance at Careers ...

  Abu Dhabi / WAM The National Qualifications Authority (NQA) received at its headquarters in Abu Dhabi the delegation of Indonesian Embassy to UAE who was briefed on the UAE experience in developing and implementing the National Qualifications Framework (NQF) and the associated policies and procedures. The delegation, headed by Hussein Baqas, the Indonesian Ambassador to the UAE, discussed with HE ...

  Dubai / Emirates Business Dubai South has launched the ‘Ramadan Smile’ initiative as part of its CSR outreach during the Holy Month of Ramadan. The initiative will see Dubai South distribute Iftar boxes, Sakany-branded caps and T-shirts to workers of partner organizations, including IKEA, Nestle and Aramex among others, in three waves during Ramadan. The health and wellbeing of ...