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Seoul / AFP As the mercury outside plunges to minus 10 degrees on an ice-cold Monday afternoon, the dance floor inside the Kukilgwan Palace is packed with grey-haired Korean couples moving to the rhythms of high-volume disco. “I come here every day of the week, except for Saturday and Sunday,” said 81-year-old Jun Il-Taek as he danced beneath the giant ...

Bloomberg Russian Prime Minister Dmitry Medvedev said his country is in a new cold war with the US and its allies, while NATO’s chief said Russia is using its nuclear arsenal to intimidate Europe. The clash, with echoes of superpower rhetoric during the 20th century, played out at the Munich Security Conference on Saturday even as Russia, Europe and the ...

Abu Dhabi / WAM The Abu Dhabi General Service Company (Musanada) has announced that the construction of AED2.1 billion new highway linking Abu Dhabi and Dubai is 70 percent complete. The road, spanning from Seih Shuaib to Sweihan Interchange, is expected to be completed by the end of this year, according to Musanada. Eng. Faisal Ahmed Al Suwaidi, Director-General of ...

Dubai / WAM Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding announced on Saturday the preliminary unaudited financial results of its business group, Dubai Holding Commercial Operations Group (‘DHCOG’), for the year ended 31 December 2015. DHCOG continued to see good operational progress with all businesses performing well and contributing to Group profitability. Net profit increased to AED 5.83 billion, ...

Mumbai / AFP Indian Prime Minister Narendra Modi renewed his call on Saturday for firms to invest in India and turn it into a global manufacturing hub, painting the country as a bright spot for investment in an uncertain world economy. The right-wing prime minister was addressing a gathering of industry leaders, CEOs and foreign dignitaries in the commercial capital ...

Ritika Sharma / Emirates Business Emiratisation rang loud and clear at the recently-held National Career Exhibition 2016, in Sharjah. Backing UAE’s pledge to nurture local talent and provide superior training and growth opportunities to Emiratis, participating companies said they were fully dedicated to create a national workforce. Rashed Al Ansari, GM, Al Ansari Exchange, said, “We are eager to support ...

Seoul / AFP The United States has temporarily deployed an additional Patriot missile battery in South Korea following North Korea’s recent nuclear test and long-range rocket launch, US Forces Korea said on Saturday. The move came as the two allies plan to start detailed discussions on bringing in an advanced, high-altitude US missile defence system opposed by China as early ...

Caracas / AFP Venezuela’s opposition vowed to speed up efforts to oust President Nicolas Maduro after he defied lawmakers by securing emergency powers to intervene in the crisis-hit oil state’s economy. The maneuvers intensified a political standoff that has raised fears of unrest and deepening economic suffering in the oil-rich, violence-plagued South American state. The Supreme Court overruled opposition from ...

ALKESH SHARMA Emirates Business Emirates’ Information and Technology industry is at an all-time high, courtesy the UAE government’s progressive policies and presence of world-class IT growth catalysts in the country. It expects a Compound Annual Growth Rate (CAGR) of nearly 3.6 percent over the period of 2015-2019, suggests a Business Monitor International (BMI) Research report. According to the survey, the ...

Athens / AFP Thousands of demonstrators gathered in Athens on Saturday in solidarity with farmers who have blocked dozens of highways and border crossings in recent weeks in protest over a pensions overhaul. An estimated 12,000 people gathered in the Greek capital’s central Syntagma Square outside parliament, police said. More than half were members of the communist-leaning Pame trade union, ...