News

  Bloomberg Britain’s referendum on EU membership entered its final day of campaigning with opinion polls and financial markets at odds about the likely outcome. Money has piled into bets on “Remain” winning over the past week. The pound has surged to a five-month high and an index of betting flows compiled by Oddschecker shows the chance of Brexit has ...

  Bloomberg Paintings by Pablo Picasso and Amedeo Modigliani gave the auction market a much-needed boost on Tuesday when they fetched the highest prices for Sotheby’s in London since 2010. Picasso’s 1909 Cubist painting “Femme Assise” sold for £43.3 million ($63.5 million), surpassing the estimated target of £30 million. Moments later, Modigliani’s “ Jeanne Hebuterne (au Foulard)” took £38.5 million, ...

  London / AFP Bosses from more than half of Britain’s biggest companies on Wednesday urged Britons to vote Remain on the eve of a critical EU membership referendum. Almost 1,300 business executives — including those from 51 of London’s top FTSE 100 listed companies —wrote in a letter to The Times newspaper that Britain leaving the EU could cause ...

  Bloomberg The U.K. could find itself hard pressed to replicate access to Asia’s lucrative markets — from New Zealand to India — should voters in the world’s fifth-biggest economy opt to leave the EU. With Asia accounting for two-thirds of global growth, the U.K.’s trade ties with the region are crucial for it. While some politicians such as Boris ...

  ALKESH SHARMA / Emirates Business Cloud computing is the new means for companies to ensure success and beat the throat-cut competition in UAE’s burgeoning business ecosystem. Not only big enterprises but SMEs (small and medium enterprises) and start-ups also are harnessing wonders of the clouds to optimum levels in order to scale new heights. “There are many secure platforms ...

  Sunaina Rana / Emirates Business With the UAE rapidly progressing towards smarter cities, smart transportation has become an innovative platform which could enhance safe riding and smooth traffic flow. In a similar move, Dubai Government is all set to adapt the latest technology and promote smart buses and smarter transport system in the Emirate. Safder Nazir, vice president of ...

  DUBAI / Emirates Business GAC Dubai’s contract logistics arm has opened a new dedicated co-packing facility in the Jebel Ali Free Zone (JAFZA) as part of the company’s continued investment and growth strategy. With its workforce of 200 highly experienced operatives, GAC Dubai’s contract logistics team has set its sights on increasing the current throughput of 7.5 million unit ...

  Abu Dhabi / Emirates Business Young ADIPEC, the annual youth outreach initiative by the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), has announced it is partnership with the Abu Dhabi Education Council (ADEC) as part of government efforts to cultivate the next generation of home-grown energy professionals. The first-time cooperation between the two entities will enable Young ADIPEC ...

  Sunaina Rana / Emirates Business The UAE, with its rapidly-growing infrastructure and socio-economical factors, has been ranked among the most attractive retail markets around the globe. Tourism in the country also plays a vital role in promoting its retail sector, say experts. A surge in the number of high-end retail malls has also proved lucrative, bringing in foreign investors. ...

  Dubai / Emirates Business Arabian Falcon Holidays (AFH), the largest independent timeshare player in the Middle East, has recently hosted a delegation from the African travel industry at The Bonnington Jumeirah Lakes Towers as part of the mega familiarisation trip organised by Dubai’s Department of Tourism and Commerce Marketing (DTCM). AFH extended a site visit of the accommodation options ...