Singapore / Bloomberg Empty storefronts in Singapore’s prime shopping district may become a more common sight. Vacancies in the city’s main Orchard Road area, a magnet for tourists lured by malls and Japanese department stores such as Takashimaya, have risen to a five-year high and across the island, they’ve soared to the highest since 2009. As economies around the ...

  Shanghai / Bloomberg Xiaomi Corp., the Chinese smartphone maker that challenged Apple Inc. with sleek designs and low prices, is planning to introduce its first drone at a price more than 20 percent below a comparable product from market leader SZ DJI Technology Co., according to a person with direct knowledge of the matter. The drone, made by FIMI ...

  New Delhi / Bloomberg India’s Foreign Investment Promotion Board has ruled Apple Inc. must comply with local sourcing rules to sell products through its own retail stores, according to people with direct knowledge of matter, a setback to the iPhone maker’s plans to open retail outlets in the country. The FIPB has cleared Apple’s application to open retail stores ...

  Washington / AFP A solar-powered plane set to fly from Ohio to Pennsylvania on Tuesday delayed its departure to inspect possible damage due to a mishap, organizers said. The Solar Impulse 2, set to be piloted by Swiss national Bertrand Piccard, was scheduled to fly out of Dayton International Airport and head to Lehigh Valley International Airport near the city ...

  Mumbai / Bloomberg The Indian operators of Domino’s Pizza Inc. and McDonald’s Corp. dropped after a local research agency said that burger and pizza bread sold at the fast-food outlets contained cancer-causing chemicals. Jubilant Foodworks Ltd., a licensee of Domino’s, headed for a three-month low, while WestLife Development Ltd., which runs McDonald’s restaurants in western and southern India, slid ...

  ALKESH SHARMA / Emirates Business Middle East corporate sector needs to overhaul its in-house strategic planning activities and adopt the best practices to float smoothly even during crisis situation. Moreover, a stout strategic planning in place could capably address the recurring resilience concerns among the enterprises. Survey reports say that over 73 percent of the Middle East enterprises put ...

  Dubai / wam & emirates Business Dubai Parks and Resorts has confirmed that the AED 1.68 billion Rights Issue, which was announced on the April 19, was oversubscribed at the end of trading on May 23, underlining strong investor support. Total subscription as at close of May 23 amounted to AED 2.1 billion. The Rights Issue is intended to ...

  Sunaina Rana / Emirates Business Economic diversity will help reducing growth fluctuations in the region, attracting a host of international and private investors. The 22nd edition of the Foundation of directorship Workshop held recently by the GCC Board Directors Institute highlighted the significance of the regulatory trends. The event witnessed participation of senior officials which included Board directors and ...

  Dubai / Emirates Business Lady Luck is soon going to shine on 56 expatriates residing in the UAE this holy month. UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, in a new initiative to empower the people and bring a positive change in their lives, has launched its new summer promotion today. The ‘Change Your ...

  Sharjah / Emirates Business The inaugural Sharjah Bridal Fair (SBF), one of the most luxurious bridal exhibitions in the Northern Emirates, showcased a variety of the best wedding products and services under one roof from May 19 to 22. Recognising the burgeoning wedding industry in the region, the fair was warmly received at the Jawaher Reception and Convention Centre ...