News

  Dubai / Emirates Business Phoenix Contact, an electrical engineering company recently released the company’s growth figures for 2015 and strategic growth plans for 2016. “We achieved our planned revenue growth of eight percent in 2015 and are therefore in a strong, secure market position,” stated Chief Executive Officer Frank Stührenberg at a press conference, expressing his satisfaction with Phoenix ...

  Dubai / Emirates Business In line with its steadfast mission to add life to its valued customers’ entertainment experiences, du has partnered with Ticketmaster to launch an exclusive discount offer. Now onwards, all du customers can enjoy 15 percent off main events’ tickets booked through the entertainment giant’s website, which was specifically created for du and will host tickets ...

  Abu Dhabi / Emirates Business Etisalat has announced the exclusive launch of the latest 4G+/LTE HTC 10 smartphone for its customers in the UAE at zero upfront and starting as low as AED105 per month. The new mobile device from HTC can be purchased from key Etisalat Business Centres and authorized retail outlets across the UAE. Customers can also ...

  DUBAI / Emirates Business Al-Futtaim Engineering’s Building Products division has been recognised as the ‘Outstanding Distributor’ for the Middle East and North Africa (MENA) region by TOTO Asia Oceania Middle East. The award was presented to Dawood Ozair, Senior Managing Director of Al-Futtaim Engineering and Technologies, and Wasim Haider, General Manager of Building Products division at Al-Futtaim Engineering, by ...

DUBAI / Reuters Kuwaiti telecom firm Zain has agreed to buy Abu Dhabi-listed Etisalat’s 92.3 percent stake in Sudanese fixed line operator Canar for AED 349.6 million ($95.2 mn). The deal would strengthen Zain’s grip on Sudan’s telecom sector where it is already the top mobile operator by subscribers and has long sought to add a fixed-line licence. It is ...

  BANGKOK / AP Japan’s foreign minister announced a multibillion-dollar initiative on Monday to promote development in Southeast Asia’s Mekong region, which encompasses parts of Vietnam, Laos and Thailand through which the river flows. In a speech at Chulalongkorn University in Bangkok, Fumio Kishida affirmed the importance of Southeast Asia’s economic prosperity to Japan. He pledged 750 billion yen ($7 ...

  New Delhi / AFP Hundreds of taxi drivers protested in New Delhi on Monday against a ban on diesel cabs, the latest initiative aimed at improving air quality in the world’s most polluted capital. India’s top court on Saturday ordered taxis run on the dirty fuel off the city’s roads, refusing industry requests for more time to switch to ...

  New Delhi / Bloomberg India’s one-year interest-rate swaps dropped to a more than two-week low on optimism the central bank will add more funds to tackle the liquidity deficit in the financial system. The cost to lock in payments on borrowings for one year fell one basis point to 6.66 percent as of 12:30 p.m in Mumbai, the lowest ...

  Tokyo / Bloomberg Takata Corp. raised provisions for its air bag recalls that involve more than a dozen auto manufacturers, after denying reports that the biggest safety crisis in the industry’s history will expand further. The auto parts supplier will book a combined 20.1 billion yen ($189 million) in charges, 16.6 billion of which was decided after reviewing air ...

  Bloomberg When European Central Bank policy makers discuss the fate of the €500-note this week, they may want to consider the case of Fabio Rizzi. After the local politician in the Italian region of Lombardy was arrested on corruption charges in February, police found more than €17,000 including €500- and €200-bank notes stashed in his home, according to the ...