News

  Bloomberg Fast Retailing Co cut its full-year profit forecast for the third time in six months as a strong yen eroded earnings from overseas and overshadowed improving sales at its Uniqlo casual-wear chain. Net income will probably be 45 billion yen (US$427 million) for the year ending August 2016, a 25 percent drop from the forecast it gave in ...

  Bloomberg Australia’s dollar held near its highest since early May after a report showed full-time employment in the nation surged last month. New Zealand’s dollar tumbled as the central bank’s plan to update its economic assessment spurred speculation for a rate cut. The Aussie headed for a seven-week rally that would be its longest winning streak since 2012, after ...

  Bloomberg Hyundai Merchant Marine Co will join the world’s biggest shipping alliance, meeting all conditions imposed by creditors as the company seeks to reduce debt after years of weak global demand caused losses. It will join a grouping known as 2M starting April next year, the Seoul-based company said in an e-mailed statement on Thursday. The group, led by ...

  RITIKA SHARMA / Emirates Business Taking strides towards a knowledge-based economy, UAE has set an example in finance technology (FinTech). Experts claim that the pace at which UAE is embracing latest technology in financial sector, it is already the ‘most developed’ nation in the Middle East in terms of global shift in payment methods. Factors such as high smartphone ...

  Dubai / Emirates Business The UAE will play a pivotal role in the global billion dollar theme park and amusement industry, according to Abdul Rahman Falaknaz, Chairman, International Expo Consults, the organisers of the DEAL 2017 show. Highly innovative and creative themepark concepts in the UAE will be one of the key factors that will attract and drive millions ...

Dubai / Emirates Business Deyaar Development PJSC, one of Dubai’s largest property developers and real estate service providers, held a book fair at the company headquarters to support the UAE’s Year of Reading. The initiative aims to nurture a new generation of readers and enhance knowledge and innovation. The book fair, held in partnership with Impulse Group, one of the ...

  ALKESH SHARMA / Emirates Business As more number of individuals in the UAE hook to internet in pursuit of a leisure time, the gaming industry has emerged as a business that is bound to reap rich dividends. According to experts, internet gaming industry is all set for a robust growth in the coming years as internet gaming traffic will ...

  Emirates Business Nissan Motor is bringing the legendary Datsun brand back to the Middle East with the exclusive launch of two models in Lebanon, the on-DO and mi-DO. Both models make owning a new car an attainable reality for a significant portion of first-time auto buyers. Launched in 2014 after the brand was globally phased out in 1981, Datsun ...

  ABU DHABI / WAM The Khalifa bin Zayed Al Nahyan Foundation, KF, received an AED 2 million donation from Altaaqa Global to support its humanitarian initiatives being implemented in Yemen in order to alleviate the suffering of Yemenis in the light of their dire circumstances. Mohammed Haji Khouri, Director-General of the Khalifa bin Zayed Al Nahyan Foundation, received the ...

  ABU DHABI / WAM The UAE Ministry of Economy’s delegation has prepared to head to the 14th United Nations Conference on Trade and Development (UNCTAD XIV), to be held from July 17th to 22nd in Nairobi, Kenya. The delegation comprises Juma Mohammed Al Kait, Assistant Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, representatives of competent federal ...