News

  Paris / AFP Protesters took to the streets across France on Thursday for fresh demonstrations against the Socialist government’s labour reforms, although opposition to the measures appeared to be running out of steam. Demonstrators also marched through the eastern city of Belfort where the government is locked in a battle with train-building giant Alstom over the future of an ...

  Washington / AFP The International Monetary Fund resumed its bailout of war-torn Ukraine, approving disbursement of $1 billion from an aid package that had been held up in part on corruption concerns. Kiev had been waiting for the resumption of lending since August of last year in a $17.5 billion program intended to help stabilize the country after the ...

  Bloomberg The Italian economy, the euro region’s third-biggest, will expand this year even less than in 2015 after failing to growth in the second quarter, the country’s main employers’ lobby said. Gross domestic product will increase an annual 0.7 percent, compared with the 0.8 percent growth last year, Confindustria said in a report presented in Rome on Thursday. Earlier ...

  Stockholm / AFP US and Dutch authorities are seeking $1.4 billion from Telia to settle probes into alleged corrupt practices by the Swedish telecoms operator in the Central Asian state of Uzbekistan, Telia said on Thursday. It said the proposals for the settlement did not go into much detail “but suggests a total settlement amount of approximately USD 1.4 ...

  Abu Dhabi / WAM The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has issued an announcement to alert the financial services community and members of the public on certain claims made by a Rothschild Gulf Investment Bank (RGIB). RGIB has claimed on its website that it maintained private offices in the ADGM on Al ...

  ABU DHABI / Emirates Business Etihad Airways was named ‘Best International Airline – Offline’ at the 2016 Travel Agents’ Association of New Zealand (TAANZ) National Travel Industry Awards held recently in Auckland. Voted for by the New Zealand travel industry, the award recognises the airline’s world-class product and service. Etihad Airways’ General Manager for Australia and New Zealand, Sarah ...

  DUBAI / Emirates Business A long-term drop in oil prices makes investment in Small and Medium Enterprises (SMEs) essential for GCC countries. The findings are part of BLOOVO.COM’s latest research on the beneficial role SMEs play in catalysing economic diversification and employment. BLOOVO.COM’s latest research shows that SMEs already account for 90% of all registered companies in the MENA ...

  Sharjah / Emirates Business Multi-award winning Sharjah Islamic Bank (SIB) has received yet another accolade to add to its list of achievements, having been recognised with a Wells Fargo Straight-Through Processing Award – for “consistently demonstrating thoughtful and organised commercial payment volumes and quick and seamless transactions”. SIB came first in the category: “Global Financial Institutions Payment Services”. The ...

  Emirates Business Salem Ahmad Almoosa Enterprises, one of the UAE’s most prominent business conglomerates, recently marked over 40 years of excellence across a wide range of industries with a special event highlighted by the formal awarding of three ISO certifications to its companies. A number of employees were also recognized for their dedication, loyalty and outstanding performance. During the ...

  Emirates Business Global provider of integrated shipping, logistics and marine services, the GAC Group, has announced a swathe of management changes and transfers. At Group level, changes come with Erland Ebbersten, formerly Group Vice President for the Africa, Russia and Central Asia region, assuming responsibility as Group Vice President – Marine heading the newly established Marine region covering Abu ...