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Arab-German Biz Forum to see UAE’s participation

  Abu Dhabi / WAM The UAE is to participate in the activities of the 19th session of the Arab-German Business Forum, which opens on Thursday in Berlin. A UAE delegation, headed by Sultan bin Saeed Al Mansouri, Minister of Economy, will attend the two-day forum held at the Ritz-Carlton Hotel. The UAE will attend the forum as the main partner, ...

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Apple needs ‘local source’ to open India stores

  New Delhi / Bloomberg India’s finance minister has ratified a decision that Apple Inc. must meet local sourcing rules to open its own stores, according to people familiar with the matter, dealing what may be a fatal blow to the iPhone maker’s effort to open retail outlets in the country. Minister Arun Jaitley decided to support the decision by ...

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Mitsubishi’s testing scandal charge cuts profit by 19%

  Tokyo / Bloomberg Mitsubishi Motors Corp. booked a 19.1 billion yen ($174 million) charge to reflect losses related to its fuel economy testing scandal, which reduced profit last fiscal year by 19 percent and prompted a shake-up in top management. The Japanese automaker said it earned 72.6 billion yen for the fiscal year ended in March, rather than the ...

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