News

  Tokyo / Bloomberg Mitsubishi Motors Corp. President Tetsuro Aikawa will step down as the Japanese automaker looks to regroup from its widening fuel economy testing scandal with the backing of Nissan Motor Co. Aikawa, 62, and Executive Vice President Ryugo Nakao will leave their positions effective June 24, according to a statement Wednesday. Mitsubishi Motors used “desktop calculations” to ...

  Washington / Bloomberg Microsoft Corp. agreed to sell its feature phone business to FIH Mobile Ltd. and HMD Global for $350 million, exiting a business that once dominated the mobile market under the Nokia name before Apple Inc.’s iPhone. FIH, part of Foxconn Technology Group, will also acquire a manufacturing facility in Hanoi, Microsoft said in a statement on ...

  Tokyo / AFP Finance ministers and central bankers from the G7 meet in Japan this week for talks likely to highlight a sharp divide over currency policy and how to breathe life into the wheezing global economy. The group — including US Treasury Secretary Jacob Lew and European Central Bank President Mario Draghi — converge at a hot spring ...

  OUR CORRESPONDENT / Emirates Business With half of its population under the age of 25, Middle East and North Africa (MENA) region has the second youngest population among world regions after sub-Saharan Africa, and it will be greatly altered in the next decade. During the Insead’s Middle East Career Development Conference (MECDC), industry experts emphasised upon providing a pool ...

  Sunaina Rana / Emirates Business In the wake of recent fluctuations in the luxury market, the third edition of the Arab Luxury World conference will bring together regional and international players of the industry to share their knowledge, data and research on consumer needs. The concern has been raised globally. Job cuts and consolidation have not left the luxury ...

  Abu Dhabi / Emirates Business VPS Healthcare, one of the largest healthcare conglomerates in the region, and Penn Medicine – amongst the Top 10 Healthcare systems in the USA – are hosting a two-day conference on International Diagnostic Radiology and Medical Lab on May 19 and 20 in Abu Dhabi. The unique conference is being held under the patronage ...

  Ras Al Khaimah / Emirates Business Ras Al Khaimah’s largest real estate developer, Al Hamra Real Estate Development (AHRED), has announced the completion of the Bayti community of upmarket townhouses and properties. A total of 118 townhouses have been built with phase one currently being handed over. Prices for a spacious three-bedroom townhouse start from AED 1.55 million (AED ...

  RITIKA SHARMA / Emirates Business Every summer, UAE hotels host a mix of tourists from across the world. This year, the industry looks more to beach and sun lovers from Europe. Expecting a rise of nearly 10 percent in the overall revenue of hotels this year, UAE hoteliers see most of this increase coming from European tourists, especially from UK, ...

  Dubai / Emirates Business In line with the UAE’s signing of the Paris Agreement at the Climate Conference COP21, the latest edition of Dubai Green Leadership Series (GLS) organised by Dubai Science Park and Dubai Green Economy Partnership discussed ways to unite public and private sector efforts in achieving a low-carbon resilient development in the UAE. The event was ...

  RITIKA SHARMA / Emirates Business Heriot-Watt has revealed that the university contributed a Gross Value Added (GVA) total of AED 520 million to the UAE economy in 2015, AED460.2 million of which was generated in Dubai. The figures were revealed in the newly published Economic Impact of Heriot-Watt University Dubai Campus report. Talking about the economic contributions, Principal and Vice-Chancellor ...