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RITIKA SHARMA / Emirates Business A huge fire which nearly destroyed buildings in the Ajman One residential cluster on Monday night left residents devastated after losing everything from important documents to a place to stay. Misconceptions and pre-conceived notions, regarding home and content insurance, made things difficult for those who were affected by the fire. In wake of the incident, ...

Taipei / AFP Taiwan’s tech giant Hon Hai said on Wednesday it had finally sealed a takeover of Japanese electronics maker Sharp in a “historic” deal worth 389 billion yen ($3.5 billion). It is the first foreign acquisition of a major Japanese electronics firm and comes after weeks of delays, with Hon Hai buying a 66 percent controlling stake. But ...

Brussels / AFP India’s prime minister will hold talks with EU leaders in Brussels, seeking to boost investment from his country’s biggest trading partner and deepen cooperation on counterterrorism. Narendra Modi was to meet European Council President Donald Tusk and European Commission President Jean-Claude Juncker in Brussels for the 13th EU-India summit, held little more than a week after deadly ...

Bloomberg Federal Reserve Chair Janet Yellen spelled out what she means by data dependence, asserting her leadership of the U.S. central bank with a clear message that interest rates will be raised at a cautious pace. In one of her most detailed policy discussions this year, Yellen gave investors a list of conditions they need to watch for future rate ...

Brussels / AFP Brussels airport said it would not reopen on Wednesday despite drills to test resuming partial services after the suicide bombings that struck its departure hall and a metro train, as Belgium lowered the death toll to 32. Zaventem airport has been closed since twin bombings wrecked the departure hall on March 22, in coordinated suicide attacks that ...

Dubai / WAM The United Arab Emirates has ranked 19th globally in the Global Entrepreneurship Index (GEI) Report 2016, advancing one spot from last year and surpassing countries such as Norway, South Korea, Turkey and Japan. The UAE topped the list of countries within the Middle East and North Africa region, which comprises 15 countries, including Turkey. An analysis of ...

Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) received a high-level delegation from the Hamburg Chamber of Commerce led by Fritz Horst Melsheimer, President of the Hamburg Chamber of Commerce, and Dr. Hans-Jorg Schmidt-Trenz, CEO of the Hamburg Chamber of Commerce. The delegation is visiting UAE to participate in the 5th ...

Brussels / AFP Under-fire Belgian authorities hunted a fugitive bomber on Tuesday, a week after the attacks on the heart of Europe, as the city’s airport warned it could take months to fully reopen despite holding a drill for a partial restart. As Brussels struggled to get back on its feet, criticism of Belgium’s handling of the case mounted after ...

Abu Dhabi / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, discussed economic and trade cooperation with Egypt and Czech Republic, and ways to strengthen the bilateral relationship for greater mutual benefit. This came during Al Mansouri’s separate meetings with Wael Jad, Ambassador of the Arab Republic of Egypt and Alexander Sporish, the Ambassador of the Czech Republic to ...

TOKYO / Bloomberg The best way to boost the economy is to quickly implement the existing budget for the next fiscal year, Prime Minister Shinzo Abe said on Tuesday, rejecting speculation he would announce a supplementary spending package. Speaking after the parliament passed a record 96.7 trillion yen ($850 billion) in outlays for the 12 months starting April 1, Abe ...