News

RITIKA SHARMA / Emirates Business Undeterred by the global speculation about dismal economic growth, Abu Dhabi Ports seems to be riding high on growth quotient this year, which is clearly based on the robust performance of the previous year. Abdulkareem M. Al Masabi, Vice President – Ports Operations, Abu Dhabi, said that looking at the year-on-year double digit growth in ...

WAM RAK Properties reported during its board of directors meeting an impressive 23.5 per cent growth in revenues in 2015. A proposal of dividends distribution of 5% cash for the year 2015 was also recommended by the board and will be presented on the company’s annual general meeting due to be held on March 12. RAK Properties posted a 2.8 ...

Abu Dhabi / EMIRATES BUSINESS Khalifa Industrial Zone (Kizad) has announced the launch of construction activities of National Food Product Company’s (NFPC) new 752,000-sq metre production facility. NFPC is one of the largest food producers in the UAE, known for its market leading products such as Oasis, Blu, Milco, Lacnor and Gulf &Safa. The facility, which will manufacture most of ...

Dubai / Emirates Business British Airways has unveiled its prestigious new lounge at the newly built Concourse D in Dubai International Airport. The airline’s new concept lounge features a special Concorde Bar for those flying in First. The lounge has been designed to maximise space using architectural elements such as illuminated glass screens giving customers separate spaces to work, relax ...

Emirates Business Offering innovative platforms to the clients, who are looking forward to make most out of their investments in the digital transformation sector, a leading technology firm Synechron aims to reach $1 billion by the year 2020. Synechron, one of the fastest-growing digital, business consulting and technology services company, has unveiled its new brand identity, representing the significant steps ...

WAM Investment opportunities between Sharjah and Canada were discussed at a roundtable session which was recently organised by the Sharjah Investment and Development Authority (Shurooq) in collaboration with the Canadian Business Councils in Dubai and Abu Dhabi. Panels, consisting of top executives from leading government sectors in Sharjah, discussed keys areas of investment and growth in the emirate, and also ...

Alkesh Sharma / Emirates Business Imagine making a secure payment at a suburban fuel station through your wrist watch by just moving your arm before a machine. It could be certainly far more convenient and a great case of how useful Internet of Things (IoT) technology could be in daily life. With the number of Internet of Things (IoT) enabled ...

Bloomberg Saudi Arabia shot down rumours it might cut oil production, but reaffirmed its commitment to an output freeze that could restrict crude flows to market this summer. With the world’s biggest exporter already pumping near-record volumes, that may not matter. Last week’s pledge to cap production at January levels along with Russia, Venezuela and Qatar — repeated on Tuesday ...

BLoomberg The pound sank below $1.39 for the first time since March 2009, while a gauge of anxiety in currency markets showed traders are preparing for even more extreme moves. Options traders are paying the most to protect against price swings in six months’ time compared with historical volatility since Lehman Brothers Holdings Inc. collapsed during the 2008 credit crisis. ...

London / Bloomberg Thirteen former senior military officers insisted Britain should stay in the European Union on Wednesday, saying the country was “stronger” as a member of the 28-nation bloc in a “dangerous world”. Writing ahead of a membership referendum on June 23, the retired military chiefs said the EU helped protect the country against threats from IS extremists and ...