News

Emirates Business Emaar Properties honoured the winners of the eighth Emirates Classic Car Festival for an exceptional showcase of classic vehicles, which were evaluated for various parameters including upkeep, value, originality, uniqueness, finishes, and visual aesthetics. Representatives from Emaar and the Automobile & Touring Club of United Arab Emirates (ATCUAE) were present at the award ceremony, which was held on ...

Emirates Business Highlighting its commitment to education and sustainable development, Emirates National Oil Company (ENOC) is partnering with the British University in Dubai (BUiD) as a sponsor and participant of the first Sustainability Summer School International Trip, a knowledge exchange initiative organised under the patronage of His Highness Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE ...

Sunaina Rana / Emirates Business All-new compact and lightweight 3.0-liter V6 twin-turbo engine production kick starts at Nissan Motor Co.’s state-of-the-art engine manufacturing facility, the Iwaki Plant in Japan. The application of this specially designed engine would be witnessed in Infiniti Q50 sports sedan which would be making its debut in the Middle East by the third quarter of 2016. ...

TOKYO / Reuters A laggard in embracing the ‘fintech’, or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals’ cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from ...

Tokyo / Bloomberg Hon Hai Precision Industry Co., Foxconn Technology Group’s flagship company, on Sunday denied media reports that the bailout of Sharp Corp. will be approved and signed on March 31, a day after Hon Hai’s board meets. Progress in talks to acquire troubled Japanese electronics maker Sharp will determine whether the deal is discussed at the board meeting, ...

Bangkok / DPA Plans to strip Thais of their national identification card for failing to pay a long-standing education debt would be difficult to implement and could be a violation of their human rights violation, graduates have said. The Student Loan Fund (SLF) is considering co-ordinating with the Interior Ministry to not renew the national identification cards of debtors. A ...

SYDNEY / Reuters A tiny fruit fly is Australia’s undermining efforts to grow its $ 3 billion fruit and vegetable exports, the country despite reaching a series of free trade agreements with its largest trading partners in Asia. Australia sealed trade agreements with China, Japan and Korea last year — deals that guaranteed a significant reduction in tariffs for agriculture ...

Beijing / Reuters China’s industrial profits returned to growth in the first two months of 2016, despite weakening business conditions and slowing economic growth in the world’s second-largest economy. Profits earned by Chinese industrial firms in January and February combined rose 4.8 percent from a year earlier, totalling 780.7 billion yuan ($ 119.8 billion) in the two-month period, the National ...

Tokyo / DPA Japan’s consumer spending is lagging as households prefer savings over investments, despite an upward trend in personal income due to improved employment conditions, according to a Bank of Japan survey. The total amount of financial assets possessed by individuals in cash or savings hit a record high of 902 trillion yen (US$7.98 trillion) at the end of ...

Dubai / WAM The Second Ministerial Economic and Business Conference (EBC II), a flagship programme of the Indian Ocean Rim Association (IORA), will be held in Dubai from April 11-13 in conjunction with the Annual Investment Meeting (AIM) 2016. To be held under the theme of ‘SMEs and Innovation: Investing in a Sustainable Future’, EBC II will recognize the prospects ...