Emirates Business Lenovo Group (HKSE: 992) (ADR: LNVGY) on Sunday announced results for its first fiscal quarter ended June 30. Quarterly revenue was US$10.1 billion, a six percent decrease year-over-year (or four percent decrease in constant currency). Quarter-to-quarter, this represented a 10 percent increase. First quarter pre-tax income increases 297 percent year-over-year to US$206 million. Net income increases 64 ...

  Bloomberg United Airlines Chief Executive Officer Oscar Munoz filled a top finance spot that had been vacant for 12 months and replaced the longtime chief revenue officer, bolstering his management team almost a year after taking the helm. Andrew Levy, 47, was named chief financial officer, joining the third-largest US carrier from discounter Allegiant Airlines, United Continental Holdings Inc. ...

  Bloomberg When Hilton Sturisky joined Spirit Airlines as chief information officer two years ago, the discount air carrier was weeks away from running out of data storage space and costs were getting “out of control.” So he opted to move to what are called hyperconverged systems that combine server, storage and virtualization software in a single machine. In a ...

  Bloomberg CIT Group Inc. climbed in New York trading following a news report that initial bids to buy the commercial lender’s aircraft-leasing business topped some analysts’ expectations. CIT gained as much as 6.2 percent, the most intraday since October, and was up 3.4 percent to $36.16., the best performer in the Russell 1000 Financial Services Index. The shares have ...

  Dubai / Emirates Business In line with its mandate to boost Dubai’s credentials as a wholesale hub of choice and as part of ongoing efforts to strengthen cooperation with partners and stakeholders from the private and public sector within and outside the UAE, Dubai Wholesale City (DWSC) welcomed a delegation from the Spanish embassy. During the visit, the two ...

  Dubai / WAM Ahmed bin Sulayem, UAE Kimberley Process Chair 2016, on Sunday published a mid-term report, a first for the Kimberley Process. The Kimberley Process Certification Scheme (KPCS) is a joint government, industry and civil society initiative to stem the flow of conflict diamonds. It imposes extensive requirements on its members to enable them to certify shipments of rough ...

  Dubai / WAM The Roads and Transport Authority’s Dubai Taxi Corporation (DTC) is all set for the new school year 2016 – 2017 by deploying a fleet of smart buses equipped with state-of-the-art technologies. The initiative stems from DTC’s commitment to keep up with the Dubai government’s drive to provide excellent and safe school transport service. Registration is now open ...

  Abu Dhabi / WAM Dr. Amal Abdullah Al Qubaisi, Speaker of the Federal National Council (FNC), hailed the overall progress made by bilateral relations between the UAE and China in the political, economic, trade, educational and parliamentary spheres in particular. She was speaking during a meeting at the FNC with the Chinese ambassador to the UAE, Chang Hua, who was ...

  Abu Dhabi / Emirates Business Under the patronage of His Excellency Sheikh Ali bin Mishari bin Ahmed Al Shamsi, the Wali of Suhar, the fifth annual SOHAR Summer Educational Programme has come to a close after another hugely successful year. Over 300 students received certificates to mark their successful completion of the programme at the International Maritime College Oman ...

  DUBAI / Emirates Business The six-fold growth in mobile robotics by 2020 will dramatically enhance Middle East and global business productivity, workplace safety, and daily lives, according to an exclusive new report by Frost & Sullivan prepared in collaboration with GITEX Technology Week. Shipments of mobile robotics will grow from 4 million in 2012 to 25.4 million in 2020. ...