News

  Dubai / Emirates Business The Foreign Exchange and Remittance Group (FERG) — comprising businesses engaged in money exchange and remittances — held its scheduled Midyear General Meeting (MGM) at the Shangri La Hotel, Dubai. The MGM was an occasion for FERG members to network and exchange views while participating in setting the organisation’s strategy and agenda for the latter ...

  Bloomberg U.K. Prime Minister David Cameron and opposition Labour Party leader Jeremy Corbyn returned to the front line to make the case for staying in the European Union as the anti-Brexit campaign attempted to maintain momentum three weeks out from Britain’s referendum. The pound dropped earlier this week as successive polls showed a swing in favor of “Leave,” suggesting ...

  Bloomberg Rallies in the pound are proving tough to sustain as recent opinion polls puncture investor confidence that the U.K. will choose to remain in the European Union in the June 23 referendum. Sterling rose versus the dollar on Thursday after dropping the previous two days as surveys released this week signaled the ‘Leave’ camp pulling ahead of the ...

  Netherlands / AFP US delivery giant FedEx now owns over 98 percent of Dutch rival TNT, the two companies announced on Thursday as they move to complete a key $4.4 billion tie-up after winning EU approval. The deal unveiled in April 2015 came two years after the European Commission, the European Union’s powerful executive arm, had torpedoed a bid ...

  Bloomberg Swedbank AB, which is doing more corporate bond issues in the Nordic region this year than any other bank, says the share of Swedish companies’ debt market funding will more than double as higher capital requirements make bank loans more expensive. About 15 percent of corporate funding in the Nordic region now comes from the capital markets, Elisabeth ...

  Switzerland / AFP Carole, a scientist from Zurich, recently received a dream message on her phone: she will receive 2,500 Swiss francs ($2,500, €2,300) a month for the next year, no strings attached. The 30-year-old ethnologist, whose last name has not been revealed, could be the first of many in Switzerland to receive such monthly cheques in the mail. ...

  Sunaina Rana / Emirates Business Technology has been evolving with numerous innovations to improve the living standards of people. Jumping on the high-tech bandwagon, ASUS Chairman Jonney Shih took the center-stage at Computex 2016 to unveil Zenbo — the first home robot — along with a stunning portfolio of third-generation mobile products designed to provide users with revolutionary functions ...

    ALKESH SHARMA / Emirates Business In the UAE, non-Arabic language cinema seems to be more money-spinning as it is accounted for making nearly three times more at the box office than Arabic titles. According to ‘Media Industries in the Middle East 2016’ report, the average box office revenue per title for non-Arabic films in UAE was around $467,000 ...

Dubai / Emirates Business The Sustainable City, based in Dubai, has announced that they are now successfully producing clean and sustainable energy using ‘Solar Power Panels’. This recent accomplishment has made The Sustainable City the first residential project in Dubai to produce clean energy for over 500 villas, which are spread out over five residential clusters, and which comprise of ...

  Dubai / Emirates Business The third edition of Arab Luxury World was held successfully, rich with valuable insights and learnings for those in attendance. Organised by Mediaquest, the two-day conference took place at The Westin Dubai Mina Seyahi. More than 30 panel discussions, presentations and private sessions provided an in-depth exploration of the latest ideas and trends in the ...