News

Ritika Sharma / Emirates Business From five star luxury yachts to eco-boats and personal submarines – the ongoing International Dubai Boat show has attracted the latest innovations in the GCC’s marine industry. The range of water crafts being exhibited at the show are a reflection of variety and novelty in the region’s industry. The 24th edition of region’s leading marine ...

Dubai / Emirates Business Ladybird Early Learning Centre is set to change the face of pre-school education in Dubai when it opens its doors to little learners aged from 6 months to 5 years-old in July 2016. Located within Jumeirah Village Circle, the warm and welcoming purpose-built centre boasts state-of-the-art, environmentally-friendly facilities, and will follow the UK’s Early Years Foundation ...

Sunaina Rana / Emirates Business The Italian luxury car brand Maserati, has finally introduced its first SUV in its hundred-year history: the Levante. Maserati’s new car’s name has been inspired by the wind. The Levante is a warm Mediterranean wind that can change from a light breeze to an irresistible natural force in an instant, mirroring the character of the ...

Bloomberg Almost 100 million households worldwide may be powered by solar panels by 2020, according to Bloomberg New Energy Finance. The off-grid solar market has grown to $700 million now from non-existent less than a decade ago, according to a report Thursday from the London-based research company and the World Bank Group’s Lighting Global. They expect that to swell to ...

Muscat / EMIRATES BUSINESS Oman Power and Water Procurement Company (WPC) — a member of Nama Group — the sole procurer of all power generation and water desalination capacity in the Sultanate, is going to sign a number of agreements to establish the Barka Desalination Plant (Phase 4) with a consortium of ITOCHU Corporation, SUEZ, ENGIE and WJ Towell & ...

New Delhi / Bloomberg Prime Minister Narendra Modi’s message to OPEC is come and store crude oil in India. Modi’s February 29 budget exempts foreign companies from federal income taxes on permitted local sales of oil kept in caverns India has been building. That may spur the Organization of the Petroleum Exporting Countries to fill the bunkers, allowing Modi to ...

Beijing / Bloomberg China’s most prolific Internet dealmaker has issued a stern warning about the dangers facing investors in “lawless” venture capital and startup markets, urging regulators to step in and curb irrational investment and asset bubbles. Individual investors lured by promises of extravagant returns are flooding into the high-risk realm of venture capital, Fan Bao, head of China Renaissance ...

Seoul / DPA South Korean tech giant Samsung Electronics has added a new chapter to the history of the global TV market as it topped the segment last year for the 10th consecutive year. According to global market research firm IHS, Samsung was the world’s largest TV seller in 2015 on the back of the strong performance of its high-end ...

Tokyo / Bloomberg Bank of Japan (BoJ) Deputy Governor Hiroshi Nakaso indicated the central bank is prepared to take its benchmark rate deeper into negative territory, though not immediately. “We have designed a policy that technically allows us to cut the level further,” Nakaso told reporters in Okinawa Thursday, referring to a minus 0.1 percent interest rate policy the central ...

Victoria City / Bloomberg Hong Kong’s exclusive club of residential property developers will have to make room for a new entrant after billionaire Pan Sutong’s Goldin Financial Holdings Ltd., beat out other bidders including Cheung Kong Property Holdings Ltd. to win a land site for HK$6.38 billion ($821 million). Goldin, a relatively unknown company that’s among the worst performers in ...