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Abu Dhabi / EMIRATES BUSINESS Al Forsan Real Estate welcomed its first group of tenants in ‘Al Forsan Village’. Located in the heart of Khalifa City, the project has 385 villas that are for lease as well as sale. Rent in these villas starts from AED210000. The sale price of a four bedroom villa at Al Forsan Village starts from ...

Shanghai/ AFP Chinese e-commerce giant Alibaba saw its revenue jump 32 percent year-on-year for the quarter ending in December, it said in a statement, despite slowing growth in the world’s second-largest economy. Alibaba, which dominates the consumer-to-consumer market in China, said revenue reached $5.33 billion (34.54 billion yuan) in the December quarter, beating an average forecast of 33.2 billion yuan ...

Shanghai / AP Joysticks at their fingertips, the mostly male students packing the classroom lift their virtual helicopters into the air, part of a new cottage industry that’s sprung up in China: drone pilot schools. China is already the world’s biggest drone manufacturer, churning out remote-controlled flying machines that range from 3-D urban mappers to tear-gas spraying models for police. ...

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 ...