Uncategorized

  ALKESH SHARMA / Emirates Business The Middle East remains a key market for the growth of global yacht industry. According to well-placed survey reports, nearly 55 percent of region’s ultra-wealthy buy superyachts, and it is the highest proportion of any global market. “The 55 percent ‘propensity to buy’ for the Middle East is the highest of all regions,” said ...

  RITIKA SHARMA / Emirates Business As the Small and Medium Enterprise (SME) industry takes center-stage in the economy of the UAE, entrepreneurs are looking for fresh territories to venture into and start their businesses. According to a recent report that accessed the industries explored by budding entrepreneurs in the GCC region, Finance and Technology (Fintech) and e-commerce have emerged ...

  Bloomberg Federal Reserve Bank of Boston President Eric Rosengren said he expects U.S. economic conditions to continue improving, making further rate increases appropriate, although it will be important to see whether a weak employment report for May proves to be an anomaly. “Lately the economic data have been choppy,” Rosengren said in the text of a speech prepared for ...

  Bloomberg Exxon Mobil Corp. may invest more than $10 billion as it transplants the U.S. shale-drilling model to Argentina’s Vaca Muerta region in the next few decades, Chairman and CEO Rex Tillerson said. The oil giant has so far invested $200 million in the world’s second-largest shale gas deposit and plans to invest another $250 million in coming months ...

  Beijing / AFP US envoys pressed China on Monday to cut excess steel production that is flooding global markets and to reach a diplomatic settlement to territorial disputes in the South China Sea as the two sides opened a high-level dialogue. The annual meeting of Cabinet-level foreign affairs, trade and other officials from both sides is meant to head off ...

  Beijing / AFP President Xi Jinping said China and the US needed to trust each other more as both sides sought to minimise tensions over the South China Sea at the opening on Monday of key annual talks in Beijing. China claims nearly all of the strategically vital sea despite competing claims by several Southeast Asian neighbours, and has ...

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) is hosting its largest ever group of travel trade professionals from Africa, during a six-day familiarisation trip aimed at positioning Dubai as a leading destination of choice. The familiarisation trip, which ends on June 7, has given over 300 senior management executives from 12 African countries ...

  Dubai / Emirates Business Within the framework of strengthening cooperation links with educational entities in the UAE, the Mohammed bin Rashid Space Centre (MBRSC) signed a Memorandum of Understanding (MoU) with the United Arab Emirates University (UAEU) in order to develop qualified national human resources to work in the space science and technology sector. The MoU was signed by ...

  Bloomberg Campaigners to get Britain out of the European Union have moved into the lead, according to a YouGov poll that increases the pressure on Prime Minister David Cameron with less than three weeks until the referendum. The online poll for ITV’s Good Morning Britain programme on Monday put “Leave” voters at 45 percent and “Remain” at 41 percent, ...

  Sharjah / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, on Sunday launched a special Ramadan campaign in the UAE that aims to provide 5 million books for children in refugee camps and students in under-privileged schools across the world. The campaign will distribute two million books to children and ...