News

  Tokyo / AFP Toyota on Wednesday warned that its annual net profit will fall by about a third as a stronger yen, and a slowdown in Chinese growth and other emerging markets dent its bottom line. The surprise new forecast — which would mark Toyota’s first profit decline in five years — tipped a 1.5 trillion yen ($13.8 billion) ...

  Tokyo / AFP Scandal-stricken Takata said on Wednesday it logged an annual net loss of $120 million, as the company struggles with a massive recall crisis over exploding air bags tied to 13 deaths in the United States and Malaysia. US auto safety regulators last week ordered Takata to recall between 35 million and 40 million airbags installed in ...

  TOKYO / AP Mitsubishi Motors cheated on fuel-efficiency testing for almost every model it sold in Japan in the last 25 years, a report said on Wednesday, fuelling questions about the size of a scandal that has plunged the automaker into crisis. Citing unnamed company sources, Japan’s Asahi newspaper said dozens of models sold in Japan have been affected ...

  Mumbai / Bloomberg Investors who anticipated that India central bank Governor Raghuram Rajan would bring order to a bad debt-plagued banking system by now are being forced to ratchet back those expectations. Results from ICICI Bank Ltd. and Axis Bank Ltd. two weeks ago and comments from their top managers fuelled concerns that dud loans will continue to pile ...

  Ritika Sharma / Emirates Business If you think a salesman glued to his smartphone, busy in social media, is hampering his company’s business, think again; this could not be the case at least in the UAE. A recent survey has revealed that UAE salespeople who spend around 4.8 hours per week on social media are actually boosting the sales ...

  Sunaina Rana / Emirates Business Renowned Arabic calligraphy artist Wissam Shawkat has collaborated with Vertu luxury mobiles to create exclusive designs for the brand’s bespoke offering during Ramadan, revering the theme of ‘love’. This unique collaboration reinforces the importance of Middle East in the luxury handmade mobile phone brand sales, and offers customers an opportunity to own a piece ...

  Dubai / Emirates Business Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, announced its financial results for first quarter ended March 31. The company’s net group profits were reported at AED 123 million. Amlak’s Total Revenue reached AED 363 million in Q1 2016 compared to AED 104 million in Q1 last year. The strong ...

  Dubai / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority, RTA, chaired a meeting of an RTA Senior Leadership Team comprising CEOs, Directors and Deputy Directors. The meeting discussed future trends of innovation and how to shape them. Al Tayer began the meeting by stressing the importance of preparing, ...

  ABU DHABI / Emirates Business Classes at International Indian School – Abu Dhabi, an educational institution which has come up recently, will begin on May 15. Located in Baniyas West, the co-educational, independent all-through school will follow the CBSE curriculum. Admission to KG-1, KG-2 and Grades 1 to 8 is in progress, said the school authorities. The school is ...

  DUBAI / Emirates Business Emirates Green Building Council (EmiratesGBC), an independent forum aimed at conserving the environment by strengthening and promoting green building practices, puts the spotlight on Nearly Zero-Energy Buildings (nZEBs) at a Focus Day organised in partnership with the Dubai Chamber of Commerce & Industry (Dubai Chamber) and the Dubai Supreme Council of Energy. Discussing the definitions ...