News

  Dubai / Emirates Business Dubai Customs enhanced its outreach to the global business community with a senior delegation visit to Huawei headquarters in Shenzhen, China. To learn first-hand about Huawei’s best practices in areas related to supply chain and customs compliance was the main objective of the visit. The delegation’s mission to Huawei was geared to promote coordination and ...

  Abu Dhabi / Emirates Business Under the patronage of His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai International Marine Club (DIMC), the Department of Economic Development (DED) announced the opening of the ‘Sirage Exhibition,’ a Ramadan charity bazaar, being held June 16-21 at the Dubai Festival City Mall. The exhibition features over 50 ...

  Abu Dhabi / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the region’s leading multi-line insurance providers for individuals and corporates, announced its support to Al Bayt Mitwahid Association for the third consecutive year. Al Bayt Mitwahid, which was launched by the employees of the Abu Dhabi Crown Prince Court in 2012, has since become the foremost ...

  New Delhi / AFP The popular governor of the Reserve Bank of India, Raghuram Rajan, will step down when his term ends in September to return to academia, he wrote in a letter to colleagues published on the central bank’s website on Saturday. Speculation has been rife in the Indian media about whether the former IMF chief economist intended to ...

  Beijing / Bloomberg Alibaba Group Holding Ltd.’s financial affiliate is planning to purchase a 20 percent stake in Thailand’s Ascend Money in a bid to become a key financial services player in Southeast Asia. Zhejiang Ant Small & Micro Financial Services Group, known as Ant Financial and controlled by Alibaba co-founder Jack Ma, also wants an option to increase ...

  Tokyo / AP Mitsubishi Motors is giving 100,000 yen ($960) to each Japanese owner of its car as a compensation for inflated mileage and extra gas costs. The Japanese automaker said Friday it will take a 50 billion yen ($913 million) charge to cover mileage-rigging expenses, including for the eK minicar models sold in Japan since 2013, and also ...

  Tokyo/ bloomberg Siemens and Gamesa Corp. Tecnologica agreed to combine their wind-turbine manufacturing businesses, creating a company that will dominate the industry and speed up consolidation triggered by competition and price pressures. Europe’s largest engineering company will own 59 percent of the capital of the new business, Gamesa said in a statement on its website. Gamesa, based in Zamudio, ...

  ALKESH SHARMA / Emirates Business Digital transformation is the crucial key to success of businesses in the Middle East. However, the journey towards digitalisation also calls for state-of-the-art and ultra-secure systems, which can prevent cyber-attacks. According to the experts, with corporates hunting for maintainable diversity and innovative resources of growth through cutting-edge digital strategies, enterprises in this region are ...

  Sharjah / Emirates Business ‘Maktaba,’ an imprint of Kalimat Group, and the UAE Board on Books for Young people (UAEBBY) recently organised an Iftar and reading session for children from the Social Child Care Centre. Arranged in line with the holy month of Ramadan, the event provided literary entertainment for the youngsters and sought to instill within them hope ...

  Sunaina Rana / Emirates Business The luxury sector in the Middle East continues to grow undeterred by any economic hurdles. It has been ranked among the top 10 luxury markets globally, with a spending of around AED34 billion in 2015. The overall industry — as tracked by Bain & Company — comprises 10 segments, led by luxury cars, luxury ...