News

  Dubai / WAM Dubai Aerospace Enterprise (DAE) received the Middle East and Africa “Lessor of the Year” award at the Aviation 100 Awards ceremony in recognition of DAE’s position as a strong, ambitious and world-class aircraft leasing company. The awards were presented by Airline Economics during the inaugural Airline Economics Growth Frontiers Dubai conference. DAE’s Chief Executive Officer, Firoz Tarapore, ...

  Dubai / WAM The UAE’S thriving economy, including its active construction industry, had a positive impact on the nation’s insurance sector, with premiums written in property and liability insurance rising from AED24.9 billion in 2014 to AED27.5 billion in 2015, an increase of 10.4 percent, according to data released by the annual insurance report for 2015. The UAE economy is ...

  Dubai / WAM The Third Global Islamic Economy Summit (GIES) will begin in Dubai on Tuesday, focusing on challenges that face the economy, along with strengthening co-operation in a bid to find sustainable solutions. Themed “Inspiring Change,” the summit will be held under the patronage of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin ...

  Dubai / WAM The Board of Directors of the Dubai Women Establishment (DWE) held a meeting to review the organisation’s 2017-2021 strategic plan. The plan is focused on promoting the skills of Emirati women, and enhancing their capabilities, in line with the UAE’s strategic priorities. The Board also reviewed DWE’s various achievements in the past years and discussed the progress ...

  Sydney / AFP Australia’s richest woman and a Chinese property developer joined forces Sunday to bid for one of the world’s largest cattle estates, despite Canberra’s rejection of previous foreign offers. Australia’s biggest private landowner, cattle firm S. Kidman and Co, has attracted keen interest from Chinese firms wanting to secure the sprawling pastoral empire. But the government has ...

  Bloomberg Alibaba Group Holding Ltd.’s financial affiliate appointed a new chief executive officer as it prepares for a highly anticipated 2017 initial public offering. Zhejiang Ant Small & Micro Financial Services Group Co. named finance veteran and President Eric Jing to take the helm from Lucy Peng, who retains her role as executive chair, according to an e-mailed statement ...

  Bloomberg Three of China’s largest cities plan to limit the pool of drivers for online ride-sharing services, dealing a blow to Didi Chuxing, the firm that agreed to acquire the Chinese business of Uber Technologies Inc. Draft rules issued by Beijing, Shanghai and Shenzhen said that only holders of local residency permits — called hukou — would be able ...

  Bloomberg Australian Treasurer Scott Morrison said he doesn’t see much appetite for further cuts to his nation’s already record-low interest rates, while stressing that’s a decision for new central bank Governor Philip Lowe. “From our perspective, the old pushing-against-the-string analogy is very relevant,” Morrison said in an interview at the International Monetary Fund’s headquarters in Washington. “It’s up to ...

  NEW DELHI / AP A section of the cargo terminal at New Delhi’s international airport was cordoned off Sunday after a suspected radioactive leak, but officials later said the radiation posed no danger to people and called off the emergency. The leak at Indira Gandhi International Airport was suspected to have occurred from a package containing cancer medicine that ...

  Bloomberg Shanghai, China’s financial hub, is putting in place new measures to curb a surge in property prices as part of the country’s latest push to ensure stable and healthy real estate development. The new steps announced by the city’s housing commission include increasing land supply and forbidding price increases in new home pre-sales without approval. In addition, punishment ...