Bloomberg Ten months into the top job and Cathay Pacific Airways Ltd. Chief Executive Officer Rupert Hogg’s to-do list hasn’t gotten any shorter. While its cargo business and passenger traffic, especially premium travelers, are recovering, inflated wage costs and ever-increasing competition from Chinese rivals are issues he has to contend with. Among these, fuel-hedging bets gone awry top the list: ...

DUBAI / WAM Emirates Steel, a subsidiary of the General Holding Corporation (SENAAT) on Monday announced its financial results for the year 2017. More than AED6.6 billion in revenues achieved in the year, an increase of 22 percent compared to AED5.4 billion in the previous year. A solid 12 Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) margin; delivered in ...

DUBAI / Reuters Dubai International Financial Centre (DIFC) said the number of new companies launching operations in the financial free zone rose in 2017. The DIFC aims to more than double the number of financial firms within the free zone to 1,000 at a time when several centres in the Middle East are vying for expansion. DIFC, the largest such ...

ABU DHABI / WAM The Cabinet has adopted the formation of the ‘UAE Council for Artificial Intelligence’ to ensure the implementation of these technologies in various sectors. The move aims to serve the UAE Government’s objectives, and improve the quality of life of citizens and residents in order to achieve the vision of the UAE 2021 and make the UAE ...

Dubai / Emirates Business Middle East and North Africa (MENA) IT spending is projected to reach $155 billion in 2018, a 3.4 percent increase from 2017, according to the latest forecast by Gartner, Inc. Gartner analysts are discussing key IT and business issues that are driving the evolution of digital business during the Gartner ymposium/ITxpo in Dubai. In 2018, the ...

ABU DHABI / WAM Tadweer launched a recycling auction on its website, which was developed to serve waste producers in the field, targeting waste management companies and recycling facilities. The service provides an electronic platform for recyclable waste producers to advertise and sell recyclable waste materials and promote reuse, which is a key principle and one of three main pillars ...

SHARJAH / WAM The Sharjah Foreign Direct Investment Office, Invest in Sharjah, has met with India’s leading industrialists, entrepreneurs and government officials during a tour of the sub-continent, participating in trade conferences and partnership summits to promote Sharjah’s vast investment opportunities. Investment Promotions Managers at Invest in Sharjah, Saif Alsuwaidi and Rajesh Kadam highlighted Sharjah’s current business ties with India ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Monday visited Bluewaters Island, the new man-made island developed by Meraas off the coast of the Jumeirah Beach Residence opposite to The Beach. His Highness reviewed the progress of the AED 6 billion Bluewaters project, which includes residential, ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has received a letter from HH the Emir of the State of Kuwait Sheikh Sabah Al-Ahmad Al Jaber Al-Sabah, related to the strong fraternal relations between both countries. His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the ...

Dubai / WAM Emirates Global Aluminium (EGA), is saving around AED 5 million in energy costs each year by implementing energy conservation ideas from shop floor staff. The ideas range from new efficiencies at EGA’s smelters to optimising heating and cooling processes in order to reduce power consumption. The company has implemented 24 energy saving ideas from staff over the ...