News

Bloomberg Apple Inc. applied to open its own stores in India, a strategy that may help it better target a fast-growing market just as iPhone sales may be peaking. Apple said it’s filed a request with the Indian government to bring its retail outlets to the world’s second- largest country. Emerging markets will prove crucial to Apple as some analysts ...

San Francisco / AFP US online giant Amazon has reported profits doubled in the past quarter, as it attracted more customers with video and other services, but the results missed Wall Street forecasts. Amazon shares dived more than 13 percent to $551 in after-hours trade on the results, which showed a fourth-quarter profit of $482 million, up from a $214 ...

Moscow / Bloomberg Russians already suffering from surging costs for imported food as the ruble slumps are paying near record prices even for local wheat. Farm-gate prices in southern Russia, the main grower of the grain for export, climbed as high as 11,800 rubles ($150) for a metric ton of fourth-grade milling wheat by January 25, according to Igor Pavensky, ...

Washington / Bloomberg There’s been endless speculation in recent weeks about whether the US, and the whole world for that matter, are about to sink into recession. Underpinning much of the angst is an unprecedented $29 trillion corporate bond binge that has left many companies more indebted than ever.Whether this debt overhang proves to be a catalyst for recession or ...

ArabPlast, the world’s leading plastics and petrochemical show, is all set to provide latest updates to petrochemical industry and is anticipating the largest participation in its history, with expectations of display of high end machineries from Asia and Europe. According to the United Arab Emirates Petrochemicals Report Q1 2016, published by Business Monitor International (BMI), the UAE petrochemicals industry will ...

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, was honoured with four awards at CPI Financial’s Islamic Business & Finance Awards Ceremony including: Best Retail Bank – UAE; Best Commercial Bank – UAE; Best Wealth Management – ME; and Banker of the Year 2015 for CEO, Jamal Bin Ghalaita. The awards recognise the phenomenal growth and ...

aafaq Islamic Finance, a leading provider of Islamic finance products and e-government services in the UAE, received two eminent awards from London-based International Finance Magazine (IFM) during the 2015 IFM Awards. Mujtaba Naseem, DCEO & CFO at aafaq Islamic Finance, accepted the award for the ‘Fastest Growing Finance Company – GCC 2015,’ while Nihad Shahin, Secretary of the Boards of ...

Mashreq, scooped the “Best Branch Experience” award for its fully automated banking branch, imashreq, at the 11th Annual Customer Experience Benchmark Index (CEBI 2015) organised by Ethos Integrated Solutions, the regional leader in delivering excellence in customer experience. imashreq is the region’s first fully automated branch designed for customers to carry out their everyday banking transactions at any time of ...

Abu Dhabi Airports has broken ground on the construction site of the new Midfield Terminal Building’s fire station. The state-of-the-art 12,000 square meter facility, will house the teams, who will be first on the scene for any emergency situation at the airport, once the MTB is up and running. The Midfield Fire Station will be equipped with nine response vehicles, ...

The Philippines’ leading carrier, Cebu Pacific Air, also known as CEB, rounded up its fastest growing routes for the first nine months of 2015, with its low-cost long-haul flights making the cut. The countries or regions with the highest passenger growth from January to September 2015, compared to the same period last year, were Australia, the Middle East and Japan. ...