News

  Dubai / Emirates Business Honeywell (NYSE: HON) on Monday announced the results of a first of a kind thermostat pilot program in Sharjah, United Arab Emirates, that indicates mosques in the Middle East have the potential to cut their energy consumption by more than one-third through the use of “smart” thermostats. Honeywell’s VisionPRO 8000 thermostat for mosques, designed with ...

  Abu Dhabi / Emirates Business As the region’s 2015/2016 cruise season has come to a close, Abu Dhabi Ports, (ADP) the master developer, operator and manager of ports and the Khalifa Industrial Zone in the Emirate, released its best ever Cruise Terminal performance figures. With an increase of 16% in passengers and 20% increase in vessel calls, the state-of-the-art Abu ...

  Abu Dhabi / Emirates Business Gulf Islamic Investments LLC (‘GII’), a UAE based Islamic financial services company, on Monday announced that it advised/ acquired on behalf of its Investors, a Class A Commercial Building ‘3501 Corporate Parkway’ situated in Center Valley (Allentown) Pennsylvania, United States of America. The building was constructed in 2006, on approximately 60,000 square feet plot ...

  Dubai / Emirates Business Ramadan is known as the holy month of giving – a fact echoed by 69% of UAE expatriates who spend more on charitable acts during the month. The results come from a GCC survey conducted on expatriate behaviour and spending habits during Ramadan by Xpress Money, one of the most dependable money transfer brands in ...

  Dubai / Emirates Business The Commercial Compliance & Consumer Protection (CCCP) sector in the Department of Economic Development has announced an initiative to establish Consumer Protection Counters within hypermarkets, car showrooms, electronics shops and department stores across Dubai. The counter will serve as the first point of contact for consumers who wish to register complaints regarding their purchases. Mohammed ...

  Moscow / Bloomberg Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years. Russia is seeking buyers for 19.5 percent of state oil champion Rosneft OJSC and would prefer a joint deal with the two nations ...

  Tokyo / AFP Japan fell into a trade deficit in May, the first since January, the finance ministry said on Monday, as renewed yen strength pressured exports. Japanese exports fell for all major regions, including the nation’s biggest trading partner China, as concerns linger over a slowdown in the largest Asian economy as well as other emerging markets. The ...

  Bangkok / Tribune News Service The Revenue Department is poised to offer a personal income tax exemption of 10-15 years to foreign experts as part of its relentless effort to draw inbound direct investment to jump-start private investment. The tax waiver would be offered to experts in specific fields that can help strengthen the country’s competitiveness. It is not ...

  Seoul / Bloomberg Tesla Motor Inc. is preparing for its debut in South Korea as the US electric-car maker looks to challenge Hyundai Motor Co. at home. The maker of Model S sedans listed on its website four new positions for sales and engineering in South Korea and one recruiter for the country, who’ll be based in Japan. Tesla ...

  TOKYO / AP The US robotics expert tapped to head Toyota’s Silicon Valley research company says the $1 billion investment by the giant Japanese automaker will start showing results within five years. Gill Pratt told reporters that the Toyota Research Institute is also looking ahead into the distant future when there will be cars that anyone, including children and ...