News

  CANBERRA / AFP Australia’s trade minister will lead the country’s first business delegation to visit Iran in 14 years after sanctions over Tehran’s nuclear program were eased. Steven Ciobo said he will leave on Tuesday for the visit that will include reopening an Australian trade office that closed in 2010. Ciobo said he will be accompanied by 20 representatives ...

  Seoul / AFP Tens of thousands of unionised workers at South Korea’s Hyundai Motor staged their first full strike on Monday for more than a decade after negotiations over a wage increase stalled. Nearly 50,000 workers at Hyundai Motor’s three plants across the country — including the main one in the southern city of Ulsan — walked off the ...

  AFP China’s coal imports from North Korea have surged in recent months, government data showed on Monday, raising questions about Beijing’s commitment to international sanctions intended to curb Pyongyang’s nuclear programme. As the isolated country’s sole ally and main provider of trade and aid, Beijing’s participation in the UN-imposed restrictions is crucial for their success. But in August China ...

  DUBAI / Emirates Business The GCC market for interior contracting and fit outs in 2015 was estimated at US$ 7.06 billion, according to a recent report of the GCC Building, Construction and Interiors Market by Retailspace. Growth in this sector is set to climb by 25.62 percent to US$ 8.87 billion by 2016, from the projects likely to be ...

  Dubai / Emirates Business Emaar Hospitality Group, the hospitality & leisure business of global developer Emaar Properties, on Monday unveiled the first and only beachfront resort property under its flagship Address hotel brand in Dubai – The Address Jumeirah Resort + Spa, The Address Residences Jumeirah Resort + Spa and The Residences Jumeirah Dubai, Managed by The Address. The ...

Dubai / Emirates Business Fidelis Cybersecurity, the leading provider of products and services for detecting and stopping advanced cyberattacks, on Monday announced its participation in GITEX Technology Week 2016 to be held at Dubai World Trade Center, October 16-20. Fidelis Cybersecurity (Hall 1, stand E1-30) will demonstrate the latest updates to Fidelis Networkâ„¢ and Fidelis Endpointâ„¢ and invites members of ...

  Dubai / Emirates Business One of Britain’s most popular lighting design competitions is about to make its Middle East debut in Dubai, offering regional lighting design professionals, students, and manufacturers a platform to showcase their creative talents and network among industry peers. Ready Steady Light, jointly organised by the Society for Light and Lighting (SLL) and the Light Middle ...

  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, ...