News

Bloomberg Mario Draghi is having no success convincing stock investors that the European Central Bank has the firepower to reignite growth. While all economists in a Bloomberg survey expect the central bank to cut interest rates when policy makers meet on Thursday, and 73 percent project them to boost the amount of money put into the financial system through bond ...

Bloomberg Norway’s sovereign wealth fund, the world’s biggest, hasn’t been part of a global selloff in stocks this quarter, according to its chief executive officer, Yngve Slyngstad. “We have not been participating in the selling, and we don’t foresee” that a change of strategy will be necessary, Slyngstad said at a presentation of the fund’s 2015 results on Wednesday. The ...

Seoul / AFP North Korean leader Kim Jong-un said his country has successfully miniaturised a thermo-nuclear warhead, as Pyongyang on Wednesday continued to talk up its nuclear strike capabilities amid rising military tensions on the Korean peninsula. While the North has boasted of mastering miniaturisation before, this is the first time Kim has directly claimed the breakthrough that experts see ...

Beirut / EMIRATES BUSINESS Real estate developers in Lebanon are making a high return on their investments, dismissing the need to reduce prices, said an industry expert. “Developers are making around 10 percent to 15 percent yearly profits on their projects which is higher than the interest rate offered by banks on deposits in Lebanese pounds,” Raja Makarem, founding and ...

Bloomberg Jonathan Baker is the first to admit he shouldn’t be complaining about foreign investors driving up prices in Vancouver’s red-hot housing market. They helped the retired lawyer pocket millions. Baker and his wife sold their five-bedroom home for C$3 million ($2.2 million) in December, a 100-fold gain from their purchase price in 1970. The house went for C$300,000 over ...

Abu Dhabi / WAM Aldar Properties PJSC (Aldar), Abu Dhabi’s leading listed property development, investment and management company, has awarded an AED 318m contract for Al Jimi Mall’s refurbishment and expansion works to Pivot Construction Company. This investment is the latest component of Aldar’s recently announced AED 3 billion investment strategy. Al Jimi Mall remains a key retail asset in ...

RITIKA SHARMA / EMIRATES BUSINESS Women are being encouraged by leaders in aero-space industry to look beyond conventional career choices like teaching and explore more hard-core fields like engineering, construction and technical sides of aviation. Sheikha Al Maskari, Chief Innovation Officer of UAE Space Agency told Emirates Business that there is a need of more female professionals in “tougher” fields ...

DUBAI / EMIRATES BUSINESS Working for an organisation that offers a work-life balance is a blessing but working for an organisation that rewards and helps improve skills of its team is a richer blessing. One such organisation that inspires and motivates its staff is UAE Exchange, the leading global remittances, foreign exchange and payment solutions brand. In a survey conducted ...

RITIKA SHARMA / EMIRATES BUSINESS Abu Dhabi Ports recently organised a ‘Strategy Workshop with Stakeholders’, in which the company shared its five-year strategy. Government stakeholders and key customers from 25 organisations participated in the event that aimed to provide their input and build on their capabilities for its effective imple- mentation. The strategy, reflecting the demands and expectations of Abu ...

Sunaina Rana Emirates Business The internationally prominent digital lifestyle innovations company, BenQ Middle East & Turkey has recently reported theur growth upto 4.8 percent during the last quarter of 2015 in the Middle East. However, the UAE tops the charts in the region, where market share increased from 2.06 percent in Q4, 2014 to 6.52 percent in Q4, 2015. Following ...