News

Dubai / Emirates Business The Dubai Culture & Arts Authority (Dubai Culture), the Emirate’s dedicated entity for heritage, arts and culture, will showcase the sixth edition of its flagship arts and cultural initiative, SIKKA Art Fair, from March 13 to 24. SIKKA Art Fair is an integral part of the two-month long Dubai Art Season, the umbrella-arts initiative by Dubai ...

Emirates Business GE Oil & Gas (NYSE: GE) has completed the first six high-efficiency gas compression trains manufactured in Saudi Arabia, which will be provided for Phase I of Saudi Aramco’s Master Gas System expansion project in the Kingdom. These six compression trains, which have been fully manufactured locally at the GE Manufacturing & Technology Center (GEMTEC) in Dammam, are ...

AFP World oil prices nudged higher on Tuesday as OPEC producers met to discuss a possible freeze to crude output levels in a bid to tackle a supply glut. Around 1300 GMT, US benchmark West Texas Intermediate for delivery in April was up one cent at $33.40 a barrel. Brent North Sea crude for April rose 18 cents to $34.87 ...

London / AFP The bosses of more than a third of Britain’s top companies on Tuesday urged voters to keep the country in the European Union, warning that an exit from the bloc would threaten jobs. Some 198 business leaders including Roger Carr, chairman of BAE Systems, BP CEO Bob Dudley and Ron Dennis, chief of F1 team McLaren, wrote ...

Zurich Switzerland-based reinsurance giant Swiss Re said on Tuesday its chief executive was retiring, and posted a 31-percent hike in net profit in 2015 as the costs linked to natural disasters slid. Swiss Re said its chief executive Michel Lies, 62, was set to retire after 35 years in the company and would be replaced on July 1 by the ...

Frankfurt Clouds loomed over the German economy on Tuesday as business confidence in Europe’s economic powerhouse fell to its lowest level in over a year. According to the closely-watched business climate index calculated every month by the Ifo economic institute, business sentiment slumped to its lowest level since December 2014 in February. The index fell to 105.7 points in the ...

Barcelona The European Union said on Tuesday it will launch an action plan to develop 5G mobile networks which will massively speed up Internet connections, in an effort to avoid falling behind other regions. “The Commission will work together with the industry to prepare a coordinated 5G action plan for the Europe,” EU Digital Commissioner Gunther Oettinger said at the ...

Barcelona / AFP Connecting your smartphone to the web with just a lamp — that is the promise of Li-Fi, featuring Internet access 100 times faster than Wi-Fi with revolutionary wireless technology. French start-up Oledcomm demonstrated the technology at the Mobile World Congress, the world’s biggest mobile fair, in Barcelona. As soon as a smartphone was placed under an office ...

Riyadh / AFP A subsidiary of state-owned Irish airport operator daa has won the bid to operate Saudi Arabia’s first privately run terminal, official media in the kingdom and the company said. Colm Moran, CEO of daa International, signed the deal to manage and operate Riyadh’s Terminal 5 with Sulaiman al-Hamdan, president of regulator the General Authority of Civil Aviation ...

Washington / AP A UN panel approved a temporary ban on cargo shipments of rechargeable lithium batteries on passenger planes because they can create intense fires capable of destroying an aircraft. The decision by the Montreal-based International Civil Aviation Organisation’s top-level governing council isn’t binding, but most countries follow the agency’s standards. The ban is effective on April 1. “This ...