News

Sunaina Rana / EMIRATES BUSINESS SAP SE and Lenovo has announced a multidimensional partnership to develop cloud solutions in China. The creation is an innovation between SAP HANA platform and Lenovo systems, both the entities would jointly implement global go-to-market programmes. The arrangement is anticipated to significantly reinforce a current association and further combine SAP solutions with Lenovo’s data center. ...

RITIKA SHARMA / EMIRATES BUSINESS Jebel Ali Free Zone, Jafza, the flagship Free Zone of Dubai and trade and logistics hub for the wider Middle East region, is home to hundreds of companies from SMEs to big business houses. In recent years as much as have the trade figures increased, the frequency of business travel has increased too. The business ...

DUBAI / EMIRATES BUSINESS The overall investment market is not looking very promising due to fluctuating oil prices and financial meltdown in various industries, but Dubai property firm Aqua Properties is sure to make good out of even dismal market. In a bid to achieve its aim of providing an opportunity to individuals to own their own home in the ...

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 ...