News

  Emirates Business ‘Cricket for a Cause’, the philanthropic brainchild of 17 year old student Ashar Yahya, surpassed its initial goal of raising AED40,000 for Dubai Cares to raise an exceptional AED43,700 for the charity. This year’s event also saw a rise in participation, with 16 stellar teams taking to the field for a good cause. After many nights of ...

  DUBAI / Emirates Business Gulf Craft has announced that it has delivered another one of the shipyard’s timeless masterpieces, the 41-meter Majesty 135 (M/Y Nashwan). Treasured for its ability to deliver truly royal cruising experiences, the award-winning Majesty 135 continues to be one of the most beloved creations in Gulf Craft’s large portfolio of luxury motor yachts from its ...

  Sharjah / Emirates Business As part of its commitment to supporting the growth of female entrepreneurs and fostering young talent in the region, Crescent Enterprises has entered into a partnership with the Sharjah Ladies Club (SLC), contributing to its Collage Talent Center and Ebriez Exhibition. Crescent Enterprises will support the club to reach 11,000 community members through a range ...

  BLOOMBERG Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Co. Iran exports about 2 million barrels of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. ...

  Cairo / Reuters Egypt’s urban consumer inflation jumped for a third straight month in June as consumer demand spiked during Ramadan, official data showed on Sunday. Food demand normally surges during the Muslim holy month because of heavy consumption following the dawn-to-dusk fasting period. Ramadan this year began on June 6 and ended on July 5. Urban consumer inflation ...

  Riyadh / TNS Saudi markets imported pearls and precious stones worth SR21.8 billion in 2015, compared to SR19.2 billion in 2014, or an increase of 13 percent, local media said. Imports of pearls and precious stones represented 3.3 percent of the Kingdom’s total imports, which stood at SR655 billion in 2015, compared to 2.9 percent in 2014, with its total ...

  Jeddah / TNS Car rental offices witnessed a surge in rentals during the Eid by up to 80 percent, compared to other vacation days, which contributed to the rise in rental prices of up to 60 percent. Workers in the sector in Jeddah and Makkah said some offices began to provide more vehicles, either by repairing those vehicles with problems, ...

  BLOOMBERG When Egyptian President Abdel-Fattah El-Sisi turned a standard speech on electricity supplies into an unexpected appeal for peace between Israel and the Palestinians, one man who wasn’t surprised was Israeli Prime Minister Benjamin Netanyahu. The televised address in May capped months of backstage diplomacy by a group including former British premier Tony Blair. Nearly four decades after their ...

  Bloomberg China has intensified the drumbeat of its opposition to an international tribunal’s ruling expected on Tuesday that could threaten its expansive claims in the South China Sea. How Beijing responds to the ruling in the case filed by US ally the Philippines could chart the course of global power relations in an increasingly dangerous hotspot. It comes as ...

  AP  India has triggered the escape clause on dozens of bilateral investment treaties, aiming to renegotiate toward securing better protection from foreign litigation. The notifications, issued earlier this year, effectively let governments know they have 12 months to broker new treaties before the old ones expire. The changes India seeks could make it harder for foreign investors to legally ...