News

  Madrid / AFP Luis Lag is one of thousands of Spaniards who went abroad during the crisis. This “very good decision” allowed him to find a better job when he eventually came back. But many others who left their country in search of work are still unable to return home due to Spain’s sky-high unemployment. Before leaving in 2011, Lag ...

  London / AFP The billionaire owner of the Topshop clothing chain on Saturday accused a leading British MP of running a “kangaroo court” after the tycoon was slammed over the collapse of department store chain BHS. Philip Green wrote a letter to Frank Field, saying that he had led a campaign against him culminating in the publishing of a report ...

  Bloomberg America Movil SAB, the Latin American wireless carrier controlled by billionaire Carlos Slim, sank to a seven-year low after reporting disappointing profit with its Mexican unit under siege from competitors and regulators. Earnings before interest, taxes, depreciation and amortization fell 11 percent from a year earlier to 61 billion pesos ($3.23 billion), the Mexico City-based company said Thursday ...

  Bloomberg Technology billionaires are making a run for the top of the global wealth rankings as surges for Facebook Inc., Amazon.com Inc. and Google parent Alphabet Inc. added $5.6 billion to their founders’ fortunes this week. Google co-founders Larry Page and Sergey Brin gained a combined $2.7 billion after the search engine’s ad business reported a growing user base ...

  Emirates Business Uber Technologies Inc. can’t require a Connecticut customer accusing the company of price-fixing to resolve the fight in arbitration, a federal judge ruled in one of several cases challenging the ride-hailing company’s efforts to steer disputes of all kinds away from public courtrooms. U.S. District Judge Jed Rakoff in Manhattan said Friday that Uber’s online user agreement ...

Dubai / Emirates Business An increase in soil testing frequency is pointing to a buoyant construction sector in the UAE, according to the top official of Geoscience Testing Laboratory (GTL), a subsidiary of Prime, the region’s leading quality and compliance solutions provider. The Chief Executive Officer of GTL, Mary Jane Alvero Al Mahdi said, “There is an increase in frequency ...

  Dubai / Emirates Business The ambitious targets of the UAE government’s ‘UAE Vision 2021’ with regards to road fatalities demand the support of the entire nation and UAE’s corporations must play a vital role in achieving those targets. In this context, more corporations are rising to the challenge, becoming ever more aware of their critical role. Thought-leading corporations and ...

  Dubai / Emirates Business The European branch of Terumo Medical Corporation, a Japanese multinational medical products and equipment firm, has opened a new office at the Dubai Airport Freezone to better serve its customers in the Middle East and Africa – including the GCC, Levant, Pakistan and Africa – and pursue emerging opportunities in these key markets. The opening ...

  ABU DHABI / Emirates Business India’s brightest stars are set to enthral, indulge and serenade adoring fans in Abu Dhabi from August 12-13 for ‘Bollywood in the Capital’, a musical extravaganza exclusive to Abu Dhabi Summer Season. Fan favourites Vishal-Shekhar, Farhan Akhtar and musical trio Shankar, Ehsan and Loy will grace the du Forum stage on Yas Island in ...

  DUBAI / Emirates Business The latest Indosuez Wealth Management research report, ‘Macro Comment – MENA Update’, noted that the demography of the GCC region would play a crucial role in the economic growth and future of the region. “There are some interesting observations for the GCC region when we link demographics with financial markets. Replacing the investment horizon linked ...