News

Sunaina Rana / Emirates Business Women’s participation at workplace has increased manifold over the last decade, but at the same time due to busy schedules and lack of office flexibility many working mothers are giving up their careers midway. According to a recent survey of professional women in the GCC by MCG Group, 76 percent respondents cited lack of flexible ...

Dubai / Emirates Business ENOC Lubricants and Grease Manufacturing Plant (ELOMP), part of the Marketing business segment of Emirates National Oil Company (ENOC), has achieved three global certifications in quality, health and safety, further reiterating its leadership within the regional lubes industry. ELOMP’s Jebel Ali facility has achieved the ISO 9001:2008 for Quality Management System, the ISO 14001:2004 for Environmental ...

Abu Dhabi / Emirates Business IbnRushd will be the Personality of the Year at this year’s Abu Dhabi International Book Fair (ADIBF). The event, which will take place from April 27 to May 3 at the Abu Dhabi National Exhibition Centre (ADNEC), will celebrate influential cultural figures, both international and Arabic. Under the patronage of His Highness Sheikh Mohamed bin ...

KUWAIT / Reuters All signs suggest that a meeting of OPEC and non-OPEC oil producing countries in Doha on April 17 will produce an initial agreement to freeze output, Kuwait’s OPEC governor Nawal Al-Fuzaia said on Tuesday. Fuzaia, giving a speech at the oil ministry, also said she expected the oil market to achieve a balance between supply and demand ...

CAIRO / Reuters Saudi businessmen are investing $4 billion in projects including the Suez Canal, energy and agriculture, and have already deposited 10 percent of that sum in Egyptian banks, the deputy head of the Saudi-Egyptian Business Council told Reuters, two days before Saudi Arabia’s King Salman visits Cairo. Egypt has been struggling to attract foreign investors since an uprising ...

Tokyo / Bloomberg Japan’s government will escape a piece of bad news until after a summer election. The $1.3 trillion Government Pension Investment Fund will on July 29 announce what may be its worst annual loss since the global financial crisis — about three weeks later than usual and after an upper house poll that must be held before July ...

Manila / Bloomberg The Philippines will turn to the country’s gaming industry to recover a part of the $81 million stolen from the Bangladesh central bank channeled through local casinos and gambled by a network of at least 19 people. The Philippine Anti-Money Laundering Council will ask the courts to direct casinos and junket operators to recover and return as ...

Islamabad / DPA The International Monetary Fund expects Pakistan to curtail its overall development budget by 360 billion rupees (US$3.43 billion) (almost 24%) of allocations to limit the fiscal deficit. According to documents released over the weekend after approval of Pakistan’s 10th quarterly review by its executive board, the IMF expected the government to limit its overall development programme to ...

Tokyo / Bloomberg Foxconn Technology Group’s rescue of Sharp Corp. promises to bolster the Taiwanese electronics maker’s ambitions for a bigger role in clean energy in some of the world’s most-polluting countries, while also providing a firmer footing in Japan. Foxconn, which reached a deal last week to take control of Sharp, has previously announced plans to improve energy efficiency ...

New Delhi / Bloomberg Prime Minister Narendra Modi, long an opponent of global retail giants, is finally giving them an opening in India. Modi’s government is finalizing details of a policy to allow 100 percent foreign investment in marketing of food made in India. Companies like Wal-Mart Stores Inc. and Carrefour SA will be allowed to set up shops as ...