News

Sunaina Rana / Emirates Business The past few years have witnessed a steady growth of smart cities in the region, with UAE initiatives like Dubai Plan 2021 and Dubai Smart City program by 2017 topping the list. As they create new opportunities for businesses, the need for potential security against data breaches underlines the importance of technological advancements too. According ...

Bloomberg Safran SA Chief Executive Officer Philippe Petitcolin said he is open to partnering with Rolls-Royce Holdings Plc to power a new generation of regional and business jets. Safran views the market as potentially lucrative but not one that can be addressed via its CFM International venture with General Electric Co., which specialises in bigger engines for single-aisle jetliners, Petitcolin ...

Bloomberg J Sainsbury Plc reported a surprise increase in fourth-quarter sales as it ponders whether to boost its bid for Argos owner Home Retail Group Plc. Same-store sales rose 0.1 percent excluding gasoline in the nine weeks ended March 12, London-based Sainsbury said in a statement on Tuesday. The gain ended two years of declining sales and compares with analyst ...

San Francisco / AP Online retail colossus Amazon is seeking a US patent on using selfies — instead of passwords — for shopping when using smartphones. Seattle-based Amazon reasoned that combining sensor and camera capabilities in smartphones with face and gesture recognising software results in higher security than passwords or identification numbers. “Such approaches provide for user authentication without the ...

NEW YORK / AP The Fresh Market, a grocery store chain, has agreed to be acquired by private equity firm Apollo for more than $1.3 billion. The deal, which is expected to close in the second quarter, comes after Fresh Market said in October that it was seeking to possibly sell itself. Apollo said that it is paying $28.50 for ...

Montreal / AFP The UN aviation agency called on Tuesday for regulations on space travel to be enacted within five years in order to bolster a burgeoning space tourism and transportation sector. The International Civil Aviation Organization (ICAO) “recognises that sub-orbital and outer space flights will foster new tourism and transport markets, and that investments in related research and development ...

ABU DHABI / WAM HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, on Monday inaugurated the Microcredit Summit, which is being held under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council. Organised jointly by Khalifa Fund for Enterprise Development, the Arab Gulf Programme for ...

ABU DHABI / WAM Tawazun Holding announced it will inaugurate the launch of two new companies; Advanced Pyrotechnics, ATP, and Al Hosn Armored Systems, during its participation in the 7th edition of the International Exhibition for Security and National Resilience, ISNR Abu Dhabi 2016. The two new companies will be present on Tawazun’s stand at ISNR 2016, along with a ...

FUJAIRAH / WAM National Bank of Fujairah (NBF) on Monday announced that it has won four awards at the 2016 Banker Middle East (BME) Product Awards, “Best Customer Service – Corporate and Investment Banking”, “Best Cash Management”, “Best Treasury Management” and “Best Corporate Advisory Service” for NBF Capital Limited. This is the fifth consecutive year that NBF has maintained a ...

SHARJAH / WAM Following the conclusion of its Annual General Meeting, the Board of Directors of Air Arabia has announced that the assembly has approved the distribution of a 9 percent cash dividend of the company’s share capital for the year 2015. During the meeting, the General Assembly approved the auditor’s report for the financial year ending on the 31st ...