News

  Bloomberg Canada was on pace to run a significant surplus for the last fiscal year, monthly data released Friday show, calling into question the federal government’s projection of a full-year deficit. The government raised C$3.2 billion ($2.6 billion) more than it spent in February, giving it a surplus of C$7.5 billion for the first eleven months of the fiscal ...

Maracaibo / AFP Carmela de la Hoz sent a customer away with his hair half cut when the power went off in her salon. The customer will be back — but so will the blackouts. The rolling electricity cuts the Venezuelan government ordered across the country starting this week have hit the city of Maracaibo hard. Security forces are patrolling the ...

  Sharjah / Emirates Business Bank of Sharjah has announced its financial results for the three months ended on March 31, 2016. During the period, the Bank of Sharjah continued to grow its loan book while maintaining the solid structure of the balance sheet, with high levels of both liquidity and capital. Total assets reached AED27,651 million, an increase of ...

  Sunaina Rana / Emirates Business UAE-based automobile company, Swaidan Trading, also the exclusive distributor for Peugeot, has announced a new addition to its passenger vehicle portfolio of HAVAL SUVs. The automotive company has opened an exclusive HAVAL showroom on Sheikh Zayed Road, Dubai. Ajit Kumar, CEO of Swaidan Trading, told Emirates Business, “At Swaidan Trading, we are looking at ...

  Abu Dhabi / Emirates Business Organisers of Cityscape Abu Dhabi have reported that more than 15,000 visitors attended the three-day real estate showcase, which saw numerous property development launches, hundreds of units sold and a record turnout at the Cityscape Abu Dhabi Conference. The exhibition, held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown ...

  Dubai / Emirates Business The World Bank Group’s Migration and Development April 2016 Report has positioned the GCC as a global hub of outward remittances, particularly to non-GCC Arab countries. The report, which highlights the movement of people as well as remittance flows, presents data that dovetails with internal research of UAE Exchange, the leading global remittance, foreign exchange ...

  Abu Dhabi / Emirates Business Etihad Airways, the national airline of the UAE, has announced a comprehensive new global agreement with WME | IMG to become a major long-term partner to the fashion industry by supporting 17 fashion week events around the world annually. Under the agreement, which is the first multinational, multi-year airline sponsorship supporting the fashion industry, ...

  DUBAI / WAM In his capacity as Ruler of Dubai, Vice President and Prime Minister of UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on Thursday issued decree No (17) of 2016 forming the Board of Directors of Meydan City Corporation. Pursuant to the decree, the new Board has been formed with Saeed Humaid Al Tayer as Chairman, ...

  SHANGHAI / WAM A delegation from Dubai Electricity and Water Authority (DEWA), headed by Saeed Mohammed Al Tayer, MD & CEO of DEWA, has begun meetings with Chinese public and private organisations. The delegation to China is building stronger ties and developing partnerships with China’s public and private sectors. This supports the Dubai Clean Energy Strategy 2050, which gives ...

  ABU DHABI / WAM On Thursday, Masdar employees and alumni gathered in Masdar City to mark ten years of achievement in advancing the clean energy industry in Abu Dhabi and around the world. Under the banner “Seizing the Next Decade,” participants were invited to reflect on Masdar’s significant and widespread impact to date and the promise of the next ...