News

  Ras Al Khaimah / Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA), which develops the emirate’s tourism infrastructure and plans, initiates and drives its domestic and overseas promotions, has reported exceptional growth in Indian travellers to the emirate this year. The northern UAE emirate recorded a 22 per cent rise in Indian hotel guests between January and September ...

  DUBAI / Emirates Business LinkedIn, the world’s largest professional network celebrated the success of leading companies in MENA region in the talent acquisition and employer branding space by hosting the ‘LinkedIn Talent Awards’. Held for the second consecutive year, the awards recognized and acknowledged LinkedIn’s top customers in MENA for the great work and results they’ve been seeing during ...

  Bloomberg Qatar is considering investing in the $100 billion global technology fund formed by SoftBank Group Corp. and Saudi Arabia, according to people familiar with the matter. SoftBank Chairman Masayoshi Son has visited Doha and other parts of the Gulf region in recent months to discuss investments with global investors, one of the people said, asking not to be ...

  DUBAI / Reuters Saudi Arabia’s two biggest telecom operators reported weaker third-quarter earnings on Wednesday, as the cost of implementing a government initiative to register fingerprints with phone numbers weighed on both providers. A 7.5 percent drop in profit at market leader Saudi Telecom Co’s (STC) represented a continuation of an earnings slump which has now seen it report ...

  Reuters Egypt’s economy is likely to grow 3.5 percent in the 2016/17 fiscal year, missing the government’s target of around 5 percent and falling below last year’s growth rate, a Reuters poll showed. The poll, which surveyed 17 analysts, found growth would pick up only slightly to reach 3.7 percent the following fiscal year. Egypt has been struggling to ...

  Bloomberg Saudi Arabia is repaying debts to contractors after long delays that squeezed company finances and hurt investor sentiment. Finance Minister Ibrahim Al-Assaf said in a televised interview on MBC Wednesday that payments have been “regularized and will rise in the coming period.” While he didn’t offer details, three people familiar with the matter said the government has started ...

  AFP Japan is eyeing an overhaul of how it measures growth in its economy, and that is stirring fresh questions about the reliability of the world’s go-to indicator – gross domestic product — in the digital age. Researchers at Japan’s central bank crunched some numbers recently and concluded that the booming-economy-turned-perennial-laggard actually grew 2.4 percent in fiscal 2014 rather ...

  Bloomberg China’s biggest coal miner has sprung into action as the government calls on major producers to ease supply tightness before winter. China Shenhua Energy Co. output jumped more than 14 percent in September from the same month last year, while national production was down more than 12 percent, company and government data on Wednesday showed. And as national ...

  Bloomberg Reliance Industries Ltd.’s second-quarter profit rose 18 percent from a year earlier, buoyed by higher earnings from its petrochemicals business. Net income for the operator of the world’s biggest oil-refining complex rose to 77.04 billion rupees ($1.2 billion) in the three months ended Sept. 30, the Mumbai-based company said Thursday in a stock exchange filing. That compares with ...

  Bloomberg After taking control of China’s online shopping market, Alibaba Group Holding Ltd. wants to bring the business of instant feedback to a brick-and-mortar sector that’s 10 times bigger. The nation’s biggest e-commerce company is building a network that would allow physical stores — and the brands they sell — to monitor transactions as they happen, Chief Executive Officer ...