News

  Seoul / AFP South Korea on Tuesday announced an economic stimulus package of 20 trillion won ($17 billion) as it cut its 2016 growth forecast due to slowing global demand and the fallout from Britain’s shock decision to leave the EU. The finance ministry revised its growth target for the year to 2.8 percent from 3.1 percent, and said ...

  Mumbai / Tribune News Service Starbucks Corp. will introduce Tata group’s single-origin coffee in the United States and its Himalayan mineral water in Singapore, launch its specialty tea brand Teavana in India, develop a signature Indian tea blend with Tata group, and introduce Starbucks Coffee on Vistara flights, as the world’s largest coffee retailer and its Indian ally strengthen ...

  Tokyo / AFP Takata shares jumped on Tuesday after the airbag supplier’s boss said he would resign once the company recovers from a scandal linked to at least 13 deaths and scores of injuries globally. The Tokyo-listed stock soared as much as 10 percent in early afternoon trade after chief executive Shigehisa Takada told the annual shareholder meeting that ...

  Dubai / Emirates Business New and emerging blockchain technologies are integral to supporting and realising a digital economy in the Middle East while ensuring effective protection against rapidly evolving threats of data security and cybercrime, said global consulting and technology firm Booz Allen Hamilton in a new report released on Tuesday. The report, titled ‘Blockchain Technology – Can the ...

  Abu Dhabi / Emirates Business The UAE Ministry of Economy has conducted on Tuesday an inspection of Spinney’s Sahara Center outlet in Sharjah in cooperation with the Sharjah Economic Development Department (SEDD) as part of its ongoing market inspection program covering the various emirates during the Holy Month of Ramadan. Dr. Hashim Al Nuaimi, Director of the Ministry’s Consumer ...

  Dubai / Emirates Business Emircom, one of the UAE’s leading systems integrators, recently won ‘Best Growth of the Year’ during the first Middle East Partner Conference organized by Fortinet in Dubai. Fortinet’s inaugural regional channel conference gathered more than 100 partners from across the GCC and Levant regions. During the event’s special Top Partner Awards ceremony, Emircom – a ...

  Sharjah / Emirates Business India’s Radiant Group will start an oil distillation plant in Hamriyah Free Zone by the middle of next year. “We have leased 107,639 square feet of land in phase-two of Hamriyah Free Zone and the construction of our factory will start soon”, Vibhor Gupta, Managing Director of Radiant Overseas FZC said after signing the lease ...

  Ajman / Emirates Business The Royal Academy, Ajman, part of the Lazar group of schools, held a read-a-thon ‘Educators at Heart’ recently. The programme was organised as part of the Reading Nation campaign initiative by Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum to mark 2016 as ...

  Bloomberg The vote is over but the campaign continues. With financial markets reeling from the Brexit vote, U.K. companies are stepping up lobbying to maintain access to the EU’s single market and labor, deepening potential rifts with British “Leave” voters who want to curb immigration. Prime Minister David Cameron has called an emergency meeting on Thursday of his Business ...

  Bloomberg Rolls-Royce Holdings Plc, the U.K.’s biggest manufacturer, said business this year is in line with expectations and reiterated that the country’s vote to leave the European Union will have no immediate effect on the company, offering investors a rare bit of good news after days of turmoil in the markets. Underlying profit before financing charges and tax is ...