News

  Dubai / WAM Amlak Finance PJSC on Monday announced its financial results for the half year ended 30th June, 2016, recording a net group profit of AED87.4 million in H1 2016, compared to AED14.6 million for the same period last year. The H1 results were supported by strong revenue growth in Q1 generated from one-off sale of land plots. The ...

  Abu Dhabi / WAM The overall number of new commercial licenses registered by the Abu Dhabi Department of Economic Development, ADDED’s Abu Dhabi Business Centre (ADBC) during the first half of 2016 has reached 4,787. The first quarter has seen 2,339 licenses while the second quarter scored 2,448 licenses, which brought the overall number of licenses in the Emirate of ...

  Dubai / Emirates Business The GCC healthcare market is rapidly expanding, with connected hospitals and healthcare providers re-imagining the industry with wearables, machine monitoring, and patient record digitisation. Both startups and established technology firms are transforming healthcare technology, showcasing the latest developments at GITEX Technology Week 2016. The GCC is investing at least USD 2 billion in new patient-management ...

  Dubai / Emirates Business A month from now, the largest banking technology and innovation summit gets underway in Dubai. Organized by Expotrade, the sixth edition of the Middle East Banking Innovation Summit will be held on September 5 and 6 at Palazzo Versace, Dubai. Focusing on the latest banking techniques and innovations impacting Middle East region’s banking sector, summit ...

  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 ...