Sunaina Rana / Emirates Business Leading UAE-based e-commerce website Souq.com has observed a significant 32% growth in smartphones sales in 2015. The Google Insights report stated that the UAE has witnessed the highest rate of device ownership in the world. The average consumer in the Emirates in 2015 owned three connected devices. Souq.com has been experiencing a 100% increase ...

  RITIKA SHARMA / Emirates Business UAE has always been atop the list of countries that are home to exciting theme parks and unmatchable thrill rides. The country is leading the way in growth of the theme-based entertainment industry, as Euromionitor report reveals that revenue from the sector is expected to reach US$837 million by 2019, with new parks on ...

  ALKESH SHARMA / Emirates Business The GCC nations, led by UAE, are one of the biggest markets of smartphones globally. In a bid to beat the mounting competition and grab the maximum market share, mobile phone companies are adopting many innovative strategies, specially customised for this region. South Korean conglomerate Samsung has emerged as the clear-cut market leader in ...

  Abu Dhabi / Emirates Business A high-level delegation from the UAE Telecommunications Regulatory Authority (TRA) held discussions during its participation at the recently concluded 27th meeting of the GCC Committee for Undersecretaries of Post and Telecommunications, in Riyadh. Topics covered partnerships in the telecommunications sector especially the recommendations issued by the Secretariat General regarding Post Office Agents Association and ...

  Dubai / Emirates Business Dubai’s government is a global leader in fostering a start-up approach to drive citizen happiness and the knowledge-based Digital Economy, government and smart technologies experts announced at a special majlis. Attending the majlis, held at the Murjaan Ballroom at the MadinatJumeirah Convention Centre under the theme of, “Citizens of the Future: Run Live, Run Happy,” ...

  Sharjah / Emirates Business The eighth edition of the Etisalat Award for Arabic Children’s Literature is now open to accept submissions, with its organisers encouraging publishers, authors and illustrators of Arabic children’s and young people’s books from across the world to send in their entries before the end of August. Organised by the UAE Board on Books for Young ...

AFP OPEC member Kuwait has earmarked 34.5 billion dinars ($115 billion) to spend on oil projects over the next five years, despite the slump in oil prices, a senior executive said. “We have earmarked 34.5 billion dinars for spending on oil projects over the next five years,” Wafa al-Zaabi, head of planning at Kuwait Petroleum Corp, told an oil conference. ...

  Shanghai / Bloomberg CRRC Corp., China’s only maker of high-speed locomotives, plans to raise as much as 12 billion yuan ($1.8 billion) in a private share sale in Shanghai to repay debt and to help finance its daily operations. The company’s board has approved the sale of as many as 1.39 billion yuan-denominated. A shares at 8.66 yuan apiece, ...

  New Delhi / Bloomberg Coal India Ltd., the world’s biggest producer of the fuel, missed analysts’ estimates for fourth-quarter profit as oversupply of the fuel and lower international prices trimmed earnings. Net income for the three months ended March 31 rose to 42.5 billion rupees ($634 million) from 42.4 billion rupees a year earlier, the state-run monopoly said in ...

  Tokyo / AFP Japanese Prime Minister Shinzo Abe intends to push back his debt-loaded country’s next tax hike for two and a half years, when he will likely have left office, reports said on Sunday. Abe on Saturday told his close aides, including Finance Minister Taro Aso, that he intends to push back a planned raise in taxes to October ...