News

Ritika Sharma / Emirates Business Global business travel spending which crossed US$1.25 trillion last year is set to increase by 6.5 percent and remain strong through 2019. Growth is projected to increase 6.9 percent in 2016, 6.0 percent in 2017, 6.4 percent in 2018 and 5.8 percent in 2019, according to GBTA Foundation’s BTI Outlook – Annual Global Report & ...

Emirates Business A newly-released report from the Business Continuity Institute identifies cyber-attacks as the top threat faced by businesses today. The 5th annual BCI Horizon Scan report is a research study produced in association with business services provider BSI, assessing business preparedness and measuring the feelings of business continuity and resilience professionals from 568 organisations globally. It provides an insight ...

WM Researchers from the Masdar Institute of Science and Technology have developed a novel device that can track and concentrate sunlight onto high-efficient solar cells, without mechanically moving to follow the sun’s path across the sky. This proof-of-concept research is the first step towards the development of a self-tracking concentrating photovoltaic (CPV) system. “Traditional CPV systems rotate solar panels to ...

lisbon / AP The construction cranes poking up from the jumble of terracotta roofs on Lisbon’s skyline can be counted on one hand — a dismal reminder for Ricardo Gomes of how little work there is for his construction company. The Portuguese Socialist government has promised to change that, advocating an end to Europe’s years of budget austerity by increasing ...

Bloomberg Pat Byrne, chairman of CityJet Ltd., purchased the carrier he once founded — less than a month after the sale of London City airport. Byrne, his management team and an unidentified consortium of private equity companies purchased CityJet, the largest airline at the airport, from Intro Aviation GmbH, the German company said in a statement, without disclosing financial details. ...

Madrid / AFP One of the world’s biggest renewable energy firms, Spain’s Abengoa, said on Monday it had been given a seven-month breathing space by its creditors for restructuring that should stave off the threat of immediate bankruptcy. The company ended 2015 with a debt of €9.4 billion, which it hopes to slim to €4.9 billion. It announced in November ...

Brussels / Reuters Three cases on the legality of bulk data collection pending at the top European Union court could spell trouble for a new transatlantic data pact that will underpin billions of dollars in digital trade. EU and U.S. officials clinched an agreement on the Privacy Shield framework on Feb. 2 after two years of difficult talks aimed at ...

Helsinki / Reuters If one fist bump could endanger Finland’s increasingly stressed tradition of consensus politics, then Prime Minister Juha Sipila and a cabinet colleague may just have achieved this dubious distinction. In a nod to popular culture, a smiling Sipila and his finance minister Alexander Stubb punched each other’s fist to celebrate a breakthrough in negotiating one of Finland’s ...

Washington / Reuters U.S. consumer spending rose marginally in February and overall inflation retreated, suggesting the Federal Reserve could take its time in raising interest rates this year despite a tightening labour market. The Commerce Department said on Monday that consumer spending edged up 0.1 percent as households cut back on goods purchases after a downwardly revised 0.1 percent gain ...

Bloomberg Brazil analysts trimmed their 2016 inflation forecast after price increases slowed more than all analysts expected in March and the economy showed signs of a deeper contraction. Economists lowered their 2016 inflation forecast to 7.31 percent, from 7.43 percent previously, according to the weekly Focus survey conducted March 24. They also pared their 2016 economic outlook to a recession ...