News

  Bloomberg Egypt’s central bank, which unexpectedly left borrowing costs unchanged last week, is keeping its powder dry for what one economist called a “super” rate increase. Five out of 8 economists in a Bloomberg survey had expected the Monetary Policy Committee to raise its key rate on Thursday to curb accelerating inflation and lay the ground for a widely ...

  Bloomberg Saudi Telecom Co. is exploring options for its indirect stake in billionaire T. Ananda Krishnan’s Maxis Bhd., the second-largest Malaysian wireless carrier by market value, people with knowledge of the matter said. The Gulf kingdom’s biggest telecommunications operator is gauging interest in its 25 percent holding in Binariang GSM Sdn., which is the controlling shareholder of Maxis, according ...

  Bloomberg Marriott International Inc., which became the world’s largest hotel operator with its $14 billion purchase of Starwood Hotels & Resorts Worldwide Inc., plans to almost double its workforce in the Middle East and Africa over the next three years. The company expects to add 30,000 more people to its regional workforce of 41,000 as new properties are opened, ...

  ABU DHABI / WAM Mariam Mohammed Al Rumaithi, Chairperson of the Abu Dhabi Businesswomen Council, discussed with Rita Swan, Finnish ambassador to the UAE, ways to strengthen bilateral relations, exchange experiences and best practices of women entrepreneurs to better discharge their functions at labour market. During their meeting, held at the council’s headquarters in Abu Dhabi, Al Rumaithi said ...

  DUBAI / EMIRATES BUSINESS Dubai Exports, the export promotion agency of the Department of Economic Development (DED) in Dubai, and the Dubai Islamic Economy Development Centre in partnership with the Consulate General of the UAE recently hosted more than 180 representatives from diverse industries in a business forum in Sao Paulo as part of the strategy to position Dubai ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry, in collaboration with the Department of Government Relations, hosted the New Zealand-UAE Business Roundtable on Sunday at the chamber’s headquarter. The meeting sought to present investment opportunities in Sharjah to the New Zealand business community, along with boosting trade and strengthening the investment partnership between the Emirate and New Zealand, ...

  ABU DHABI / WAM HE Sultan bin Saeed Al Mansouri, Minister of Economy, will head a high-level delegation to the UAE- Canadian Joint Economic Committee meetings, which will be held from September 27- 29 in the Canadian capital, Ottawa. The meetings will be co-chaired by Al Mansouri and the Honourable Chrystia Freeland, Minister of International Trade of Canada. The ...

  ABU DHABI / WAM The total value of trade between the UAE and South Korea reached AED122.7 billion from 2010 – 2015, of which AED115.8 billion represented UAE imports from South Korea, AED5.6 billion accounted for UAE exports, while AED1.3 billion was the value of re-exports from the UAE to South Korea. This was disclosed during second meeting of ...

  ABU DHABI / WAM A recent survey conducted by Abu Dhabi Systems and Information Centre (ADSIC), has revealed that the Abu Dhabi Government Contact Centre in Al Ain has seen a notable increase in cases received during August, the mid-point of the year’s third quarter. As the government entity responsible for developing Abu Dhabi’s ICT agenda, ADSIC manages and ...

  ABU DHABI / WAM The Masdar Institute of Science and Technology and the Korea Advanced Institute of Science and Technology, KAIST, will hold a joint workshop on ‘Advanced Energy and Sustainable Technologies’, on September 28, 29 at the Masdar Institute Innovation Centre. Ten faculty members from the Materials Science Engineering and Microsystems Engineering programmes of the Masdar Institute will ...