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Cairo / WAM Sultan bin Saeed Al Mansouri, Minister of Economy of the UAE, has called for stronger joint pan-Arab economic action to counter current challenges, eliminate obstacles to intra-Arab trade and investment and speed up innovation and creativity to achieve economic diversification, development and prosperity. The UAE takes great interest in the issues of joint Arab action as a ...

Dubai / Emirates Business Emirates REIT (CEIC) Limited on Thursday announced its results for the year ended December 31, 2015. Emirates REIT delivered a strong financial and operating performance during 2015, consolidating its position as a leader in the UAE property asset management industry. By year end, the net asset value of the REIT stood at $469.6mn, an increase of ...

Shanghai / Afp A Chinese firm has splashed out $6 billion for a US tech firm that distributes products for Apple and Microsoft, the latest eye-popping acquisition by a Chinese company seeking greater profits abroad as the economy slows down at home. HNA will pay the enormous figure for Ingram Micro, a company statement said Wednesday, making it among the ...

Dubai / Emirates Business The inaugural Commonwealth of Independent States Global Business Forum (CIS GBF 2016) concluded in Dubai with the overarching recommendation of embracing the UAE model of economic diversification to prepare CIS for the post-oil era and to strengthen their economic competitiveness. Organised under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime ...

New Delhi / Bloomberg Lockheed Martin Corp. has offered to build its flagship F-16 fighter jet in India, as the South Asian nation scrambles to modernize its aging defense fleet while trying to establish the country as a manufacturing base. Lockheed Chairman, President and CEO Marillyn Hewson made the offer to Indian Prime Minister Narendra Modi in September.

Sheri Atwood is the rare Silicon Valley entrepreneur whose pitch includes intimate details about her family — namely, how it was broken up. Twice. “My parents had a horrific divorce,” says the 36-year-old former Symantec Corp. executive. “It felt like the only time they communicated was in court —and when it had to do with money.” Her own divorce years ...

Alkesh Sharma / Emirates Business Thanks to UAV (unmanned aerial vehicle) technology, soon UAE-based agriculturists and investors will be able to monitor their sprawling farmlands situated as far as in Sudan, without even stepping out of their homes. Under the concept of remote ownership, this could be made possible through smart drones that would do daily monitoring of faraway meadows ...

London / AFP Britons’ satisfaction with Chancellor of the Exchequer George Osborne is waning as he prepares for his annual Budget amid warnings a slowdown in global growth could hurt the U.K. economy. Forty percent of people surveyed by Ipsos Mori are happy with his stewardship of the economy, down 4 points percentage points from July. Forty-six percent are dissatisfied, ...

Berlin / Bloomberg German Chancellor Angela Merkel’s coalition backed a resolution calling for a complete separation of the European Central Bank’s supervision of financial institutions from its monetary policy role. The lower house of parliament on Thursday voted in favor of the motion, which also urges the government to ensure that small, lower-risk institutions such as cooperative and savings banks ...

Brussels / AFP British Prime Minister David Cameron threatened to walk away on Thursday from a “make or break” EU summit without a deal as his counterparts warned they would not pay any price to stop Britain crashing out of the bloc. “I’ll be battling for Britain. If we can get a good deal I’ll take that deal but I ...