News

  Bloomberg Wage growth is the key to escaping deflation and realizing the promise of Abenomics, according to regional economy minister Kozo Yamamoto, a recent appointee to Prime Minister Shinzo Abe’s cabinet. “If you consistently raise wages every year, people will start to consume and invest,” he said in an interview with Bloomberg News on Aug. 26. Yamamoto stressed the ...

  Bloomberg Indian Oil Corp., the nation’s biggest refiner that’s also boosting its liquefied natural gas business, is lifting purchases of the fuel to take advantage of a price plunge amid a glut. The state-run company plans to buy two LNG shipments per month in the spot market for six months from October, according to Debasis Sen, director of planning ...

  Bloomberg Japan’s biggest-trading house has had its fill of commodities. After posting the first annual loss in its post-World War II history amid the collapse in commodity prices, Mitsubishi Corp. is shifting away from raw materials to make sure it never happens again. That process is going to take at least three years, according to Chief Financial Officer Kazuyuki ...

  Sharjah / Emirates Business Expo Centre Sharjah, the region’s premier exhibition organiser & events venue, has reported strong performance in the first half of 2016, registering an impressive rise in the number of events held and increase in visitor turnout. According to H1 2016 figures, Expo Centre Sharjah (ECS) hosted 15 consumer & trade exhibitions and conferences as against ...

  Emirates Business Abu Dhabi Summer Season (ADSS) will be taken to new heights into September after organisers Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) teamed up with Abu Dhabi Airports to promote the emirate-wide entertainment extravaganza. ADSS has already brought some fantastic shows and activities to venues across the emirate, including master illusionist Jamie Raven, a Dinosaur ...

  Dubai / Emirates Business The French Tech pavilion, a Business France initiative, will be hosting 22 French exhibitors and start-ups that specialize in digital technology at this year’s GITEX in DWTC’s Hall 4 and the new Zabeel Hall from 16 – 20 October. With the help of Business France, the exhibitors will be amongst an estimated 500 start-ups attending ...

  Emirates Business The UAE’s leading financial institution, Mashreq, announced that Christophe Pella has been named Head of its Asset Management unit and CEO of Mashreq Capital (DIFC) Ltd. The appointment of Pella is subject to regulatory approval. Pella arrives from London, where he most recently served as a Global Rates Portfolio Manager at Legal & General Investment Management (LGIM). ...

  Emirates Business Following the success of last year’s Agent 055 Network activation, du is once again offering ambitious UAE youth the chance to whet their appetites for entrepreneurship. This year’s initiative will be more dynamic than ever before, immersing young wannabe entrepreneurs in the business world and looking more toward talent recruitment. This initiative enables du to further strengthen ...

  Reuters Qatar’s government will levy a new airport tax on passengers from Tuesday as the country seeks new revenue streams amid falling oil prices. Every passenger leaving Qatar from Doha’s Hamad International Airport, including transit passengers, will be charged 35 riyals ($9.61) for using airport facilities, according to a statement by the airport. The charge will apply to tickets ...

  Reuters Qatar National Bank (QNB) has been given approval to open a branch in India offering banking services, the Gulf region’s largest lender said on Sunday. The bank, which in June completed the 2.7 billion euro purchase of Turkey’s Finansbank, has a presence in more than 30 countries across Europe, the Middle East, Africa and Asia. In a statement, ...