News

Athens / AFP EU President Donald Tusk on Thursday issued a stark warning to economic migrants not to come to Europe, as he castigated countries for taking unilateral action to tackle the crisis. On a visit to Greece — on the frontline of Europe’s worst migration crisis since World War II — Tusk told economic migrants it was pointless to ...

Bloomberg The pound ended its longest run of gains in seven months versus the euro and struggled to maintain a rally against the dollar as evidence mounted that the U.K. economy is losing momentum. Sterling retreated against 12 of its 16 major counterparts after a February index of U.K. services, which account for about three quarters of the nation’s output, ...

Bloomberg Russia’s service industry grew for the first time in five months as a weaker ruble spurred exports, adding to signs that the recession gripping the world’s largest energy exporter is easing. The Russia Services Business Activity Index rose to 50.9 in February from 47.1 in January, according to a statement released Thursday by Markit Economics. The gauge had held ...

Bloomberg A U.K. services gauge dropped in February as concerns about global growth, market volatility and the possibility of a British exit from the European Union rattled the biggest part of the economy. The Purchasing Managers Index published by Markit Economics on Thursday fell to 52.7 — the lowest since March 2013 — from 55.6. Economists had forecast a reading ...

Bloomberg Germany is falling woefully short of its target to have one million electric vehicles on the streets by 2020 so it feels the need to do something. Enter the taxpayer: the government is considering a €5,000 ($5,419) incentive to lure would-be buyers. That money could be better spent. Electric vehicles’ share of German sales: 0.4% The industry has a ...

RITIKA SHARMA / Emirates Business Roll, camera and, action. Given the number of Hollywood and Bollywood movies shot here, the world is well aware of the potential and the appeal of the Emirates capital as a hot spot for the film and television industry. Now, authorities recognise that too. Aiming to give a major boost to the Emirati film and ...

ALKESH SHARMA / Emirates Business Considering the ever-mounting role of technology in almost all the domains of the corporate set-up, the reliance of the industry on intelligence services is bound to grow manifold in the coming years. According to Gartner’s 2015 Market Guide for Security Threat Intelligence Services, by 2018, 60 percent of enterprises will utilise commercial threat intelligence services ...

Bloomberg The United Arab Emirates is seeking to establish Budapest as a bridgehead for onward flights in a move that could allow two of the Gulf region’s biggest airlines to carry people between central Europe and the USA. The application for so-called fifth-freedom rights concerns services to two points beyond Hungary, Saif Al Suwaidi, director general of the UAE’s General ...

Sharjah / EMIRATES BUSINESS Bukhatir Education Advancement & Management (Beam) has been recognised for its pursuit of academic excellence through classroom technology and innovation after it was presented with a Promethean Centre of Excellence Award, thereby making two Beam schools the only ones in the Middle East to have attained the prestigious accolade. Robert Speed, Promethean Head of Middle East ...

Dubai / Emirates Business Lacklustre growth in the West coupled with a slowdown in China and Russia means global fragrance houses are training their sights on the Middle East and Africa, with twelve of the world’s top 18 ready to line-up at Beautyworld Middle East 2016. According to analysts Euromonitor International (EMI), The Middle East and Africa (MEA) will be ...