News

  Bloomberg Japan Inc. has $59 billion at stake on the June 23 referendum in the U.K., when Britons vote to either leave or stay in the European Union. That’s the amount Japanese companies have invested in the U.K., which benefits more from the Asian nation than any other country outside Europe apart from the U.S., according to figures compiled ...

Bloomberg   Saudi Arabia plans to cut the public-sector wage bill as well as subsidies by 2020, scaling back the state largess that helped ensure political loyalty in the largest Arab economy. The reductions are a pillar of the National Transformation Program the Saudi cabinet approved on Monday. A major component of the Vision 2030 plan unveiled by Deputy Crown ...

  Bloomberg Saudi Arabia is scaling back renewable power targets as the world’s biggest oil exporter plans to use more natural gas, backing away from goals set when crude prices were triple their current level, according to Energy Minister Khalid Al-Falih. The kingdom aims to have power generation from renewable resources like the sun make up 10 percent of the ...

  Bloomberg Saudi Arabia is cracking down on banks that are lowballing interest rate submissions, people with knowledge of the matter said. The Saudi Arabia Monetary Agency has written to banks instructing them not to submit levels to the Saudi Interbank Offered Rate that are below what they’re actually willing to lend at, four people said, asking not to be ...

  Sharjah / Emirates Business Industry leaders and those working in the exhibitions industry in the Middle East and Africa will join hands with tens of thousands of their counterparts across the world to mark the first ever Global Exhibitions Day on June 8. With 4.4 million companies exhibiting annually at 31,000 shows that are visited by 260 million people ...

  Dubai / WAM Dubai Customs and the UAE Sailing and Rowing Federation (UAE SARF) sealed a partnership agreement setting Dubai Customs as Host Sponsor of the much-anticipated Silver Anniversary Dubai to Muscat Yacht Race, 2016. The agreement was signed by Sheikh Khaled Zayed Saqr Al Nahyan, Chairman of the Federation, and Ahmed Obaid Al Falasi, Executive Director of HR, Finance ...

  Abu Dhabi / Emirates Business Al Masaood Automobiles, the exclusive distributor of Infiniti in Abu Dhabi and Al Ain, has unveiled a range of major Ramadan offers, uniquely tailored to meet individual customer needs. Hot on the heels of the recent launch on Infiniti’s latest models –the QX60 and the QX50 – the promotions offer a great combination of ...

  Dubai / Emirates Business Emirates NBD, one of the leading banking groups in the region, on Tuesday announced its collaboration with Uber, a smartphone app changing the way the world moves, to offer Emirates NBD cardholders free rides during the holy month of Ramadan. The digital promotion represents Emirates NBD’s consistent efforts to offer its growing number of mobile-savvy ...

  Ajman / WAM The Al Ihsan Charity Association has launched its Ramadan campaign which includes a number of charitable projects that provide services for underprivileged families. During the Holy Month of Ramadan, the association will meet the needs of many families at a total cost of AED8 million. The philanthropic foundation has completed distribution of Ramadan Rations to 3,500 families. ...

  Abu Dhabi / Emirates Business The exclusive Audi Extra campaign offer from Audi Ali & Sons is making it extra attractive for customers to own a new car this Ramadan. Under the slogan “This Ramadan Audi Offers You Extra”, the campaign offers customers added value packages during the promotional period of Ramadan that encompass extra service, warranty and insurance ...