News

  Dubai / Emirates Business Prominent Asian direct selling company, QNET, is on an ambitious growth strategy for 2016 in the MENA region. The company is working with beauty and lifestyle product manufacturers in UAE, Egypt, Morocco and Tunisia to source and develop exclusive products from within the region that will support local small and medium enterprises. Khaled Diab, Regional ...

  Dubai / Emirates Business The use of captive insurance companies to fund employee benefit insurance continues to evolve globally as organisations look for new ways to manage rising costs. Companies now increasingly go beyond using their captive vehicle purely to save money on their annual employee benefits bill. According to a study by Willis Towers Watson, the primary driver ...

  Beijing / AFP China’s economy, the world’s second largest, struggled in July with a worse-than-expected trade performance as imports plunged 12.5 percent year-on-year, Customs said. Imports fell to $132.4 billion, data showed, as weaker global commodity prices and lacklustre domestic demand weighed on purchases. The drop in imports was significantly larger than expectations for a 7.0 percent fall, the ...

  Bloomberg South Korea’s credit rating was increased one level by Standard & Poor’s, which cited the nation’s steady economic performance, sound fiscal position and flexible fiscal and monetary policies for the improvement. S&P said it raised the long-term credit rating for South Korea to AA from AA- with a stable outlook, the agency’s third-highest rating. This follows an upgrade ...

  Bloomberg There’s a river of steel flooding from China despite the best efforts of governments around the world to dam the flow from the top producer, with data on Monday showing that overseas shipments held above 10 million tons in July. Sales increased 5.8 percent on-year to 10.3 million metric tons last month, compared with 10.9 million tons in ...

  BLOOMBERG India said it could raise as much as a record 5.56 trillion rupees ($83 billion) by auctioning mobile-phone airwaves later this year, about four times last year’s proceeds. Prime Minister Narendra Modi’s government plans to sell spectrum across seven wavelengths starting Sept. 29, India’s telecom Secretary J.S. Deepak told reporters in New Delhi on Monday. The estimates of ...

  AFP China’s wall of cotton is coming down. Once the world’s biggest grower of the crop, the country lost that crown to India in the season that just ended in July after depressed prices discouraged plantings. China’s sowings are set to drop again in the 12 months that started on Aug. 1, with harvested acres poised for the lowest ...

  DUBAI / WAM Al Tayer Group, a UAE-based business group, donated 10 Ford E-350 DRW ambulances to Emirates Red Crescent (ERC). The cut-away units were especially converted into ambulances by Horton Emergency Vehicles in Ohio, USA. Ahmed Al Tayer, Director of the Al Tayer Group, handed over the ambulances to Mohammed Abdullah Alhaj Al Zaroni, Manager of the Dubai ...

DUBAI / WAM The Commercial Compliance and Consumer Protection (CCCP) sector in the Department of Economic Development (DED) in Dubai announced the launch of an ‘Intellectual Property Gateway’ for receiving complaints on trademark infringement via the DED website. The gateway automates all procedures relating to intellectual property (IP) issues, starting from receiving complaints and opening files to receiving reports from ...

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan sent a congratulatory cable to President of the Republic of Cote d’Ivoire, Alassane Ouattara, on the occasion of the country’s Independence Day. Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness Sheikh Mohamed bin Zayed ...