News

  Bloomberg Brazilian banks will write fewer mortgages this year as delinquency rates climb amid the country’s worst recession in more than a century, according to Moody’s Investors Service. State-owned lender Caixa Economica Federal, which issues almost three-fourths of housing loans in Brazil, also faces higher financing costs, imperiling its ability to write new mortgages, Moody’s said in a report. ...

  Bloomberg YPF SA is set to export crude oil from Argentina for the first time in two years next month, taking advantage of a new government subsidy. It was the state-controlled oil company’s first use of an incentive announced last month to spur drilling amid low oil prices. YPF sold 200,000 barrels of Escalante crude to PetroChina Co. as ...

  Bloomberg Venezuela declared a two-day work week for government workers and said it was seeking international help to save its power grid amid a drought that threatens the capital’s main source of electricity. The two-day work week, after the government added Wednesdays and Thursdays as non-working days to save more power, will last at least two weeks, President Nicolas ...

  Bloomberg Mexico’s unemployment rate fell to the lowest in almost eight years in March, the latest sign of stronger growth in Latin America’s second-largest economy. The unemployment rate fell to 3.74 percent in non-seasonally adjusted terms, according to a report published on Wednesday by the nation’s statistics agency, known as Inegi. That was below the 3.9 percent median estimate ...

  Sunaina Rana / Emirates Business Leather industry is one of the most expensive and luxurious industries and plays a significant role in the export earnings of many developing countries. Sighting the growth of the leather products demand in the GCC, Messe Frankfurt Middle East provided a platform to potential global leather traders to participate in B2B trade at the ...

  Ritika Sharma / Emirates Business Robotics is the latest marvel of technology that has invaded everything from agriculture, to transport and from medicine to education. They have seamlessly entered our roads, railway tracks, classrooms and even operation theaters. If this was not enough of progress, Japan has recently showed the way towards a digital picture where these steel machines ...

  Dubai / Emirates Business DAMAC pavillion at ATM is one of the most frequented arenas as company’s innovative AYKON City development is causing quite a stir by presenting the crowning glory of the project in the form of the emirate’s first-of-its-kind tourist attraction, AYKON Dare. Situated at the crown of the tallest tower in AYKON City, daredevils can venture ...

  Abu Dhabi / Emirates Business Ferrari World Abu Dhabi is showcasing five years of achievements at the Arabian Travel Market (ATM), taking place from April 25-28 at the Dubai World Trade Center (DWTC). At the event, the first Ferrari branded theme park is highlighting its impressive expansion project and evolutionary journey towards an all-new entertainment experience. Jesse Vargas, General ...

  DUBAI / Emirates Business Travelport, a leading Travel Commerce Platform, has signed an extended agreement with Al Tayyar Travel Group, the largest travel and tourism company in Saudi Arabia. The extended deal enhances the strategic co-operation between both companies and reaffirms Al Tayyar Travel Group’s commitment to expand their online business. To achieve this, Al Tayyar Travel Group will ...

  Dubai / Emirates Business Arabian Travel Market (ATM) 2016 is experiencing healthy visitor growth, with a 4 percent increase in the number of visitors through the doors over days one and two, compared to 2015. The trade event, which is taking place from April 25-28 at Dubai World Trade Centre, is well on track to welcome more 26,000 visitors ...