News

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 ...

Mashreq, scooped the “Best Branch Experience” award for its fully automated banking branch, imashreq, at the 11th Annual Customer Experience Benchmark Index (CEBI 2015) organised by Ethos Integrated Solutions, the regional leader in delivering excellence in customer experience. imashreq is the region’s first fully automated branch designed for customers to carry out their everyday banking transactions at any time of ...

Abu Dhabi Airports has broken ground on the construction site of the new Midfield Terminal Building’s fire station. The state-of-the-art 12,000 square meter facility, will house the teams, who will be first on the scene for any emergency situation at the airport, once the MTB is up and running. The Midfield Fire Station will be equipped with nine response vehicles, ...

The Philippines’ leading carrier, Cebu Pacific Air, also known as CEB, rounded up its fastest growing routes for the first nine months of 2015, with its low-cost long-haul flights making the cut. The countries or regions with the highest passenger growth from January to September 2015, compared to the same period last year, were Australia, the Middle East and Japan. ...

Etihad Airways, the national airline of the United Arab Emirates, has announced an agreement with Luggage Logistics to transform the end-to-end baggage management process across the airline’s global airport network. Luggage Logistics’ advanced Baggage Management System (BMS) will enable Etihad Airways to significantly improve the delivery of guests’ luggage to their destination on-time. It will also help the airline to ...

Qatar Airways Cargo will launch a new freighter route connecting Dallas/Fort Worth (DFW) to its global cargo network starting on January 19. Qatar Airways Cargo will utilise Boeing 777F freighter aircraft to fly the route two times per week from DFW to Liege, Belgium. With the arrival of Qatar Airways Cargo, DFW will now have 18 air cargo carriers serving ...