News

  Dubai / Emirates Business Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has launched the ‘Bring Happiness’ initiative, a social media campaign that will connect members of the community in need with those who can offer their support. The initiative has been launched to coincide with Zayed Humanitarian Work Day, and honour the memory of ...

  Dubai / Emirates Business Dubai Tourism (DTCM) recently hosted exclusive media tours with two iconic homegrown brands – AJMAL Perfumes and Karam Coffee– as part of its ‘Ramadan in Dubai’ campaign; an awareness campaign that aims to shed light on the diverse activities and events taking place during the Holy month, as well as highlight the private sector’s support ...

  Dubai / Emirates Business Comfortable airport terminals will be key for growing the number of passengers in the GCC’s USD 100 billion worth of airport projects, industry experts announced. With the International Air Transport Association projecting Middle East passengers to grow by 4.9 percent per year to 2034, the GCC is fuelling USD 100 billion in airport expansion and ...

  Emirates Business Al Sagheer, one of the premium hair and beauty salons, encompassing a chain of more than 26 salons across Egypt, Dubai & Qatar, proudly supported the community this Ramadan with a hair & beauty styling event for the children from Dubai Autism Center. “Happiness for all” as the name suggests, the initiative was aimed at sharing happiness ...

  Reuters Iran’s condensate exports in July are expected to fall to the lowest in five months as major buyer South Korea scales back purchases of the ultra-light oil, trade sources said on Thursday. Robust demand for condensate, from South Korea in particular, helped drive a recovery of Iranian oil exports to a 4-1/2-year high in June, although the volume ...

  Panama City, Panama / AFP With its capacity boosted by nearly three times, Panama’s enlarged canal — set to be inaugurated on Sunday — is expected to stimulate trade between the United States and Asia, and steal business from the rival Suez canal. “A good deal of the commerce between Asia and the east coast of the United States can ...

  Bloomberg Colombia’s central bank raised its benchmark interest rate for a 10th consecutive month as consumer prices rose at the fastest pace since 2001 — while Finance Minister Mauricio Cardenas signaled that the tightening cycle was now over. In a majority decision, the seven-member board voted to raise the key rate a quarter-point to 7.5 percent, central bank Governor ...

  Bloomberg PG&E Corp.’s plan to shut California’s last nuclear power plant by 2025 would cost $15 billion if all its output is replaced with solar-generated electricity at current prices. Actual costs could be lower because the company expects to compensate for lower demand and replace only part of the production, energy policy analyst Rob Barnett said in an interview. ...

  Bloomberg U.S. drivers are burning gasoline at a record pace as they take advantage of the lowest prices at the pump in more than a decade this summer. Consumption has risen 3.9% from a year ago, while the average retail price for the motor fuel has tumbled 17%, according to data released by the Energy Information Administration and AAA. ...

  Bloomberg Ahmad Chatila, chief executive officer of bankrupt clean-energy giant SunEdison Inc., resigned on Weddnesday. SunEdison appointed John Dubel, the company’s chief restructuring officer since late April, to replace Chatila, according to a statement on Wednesday. Dubel joined SunEdison shortly after it filed for bankruptcy protection, listing $16.1 billion in liabilities. Chatila was the architect of a massive clean-power ...