April, 2016

• 23 April

  Construction sector to put focus on fire safety

  

    Sunaina Rana / Emirates Business Emphasising on the fire safety codes for buildings and testing protocols for construction, the regulators of the construction industry would discuss significance of using innovative materials and systems such as ventilated facades and metal faced sandwich panels that would contribute to achieving fire safety in the UAE at the 6th Annual Fire Safety Technology ...

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• 23 April

  Al Khoory Hotels to open 1,100 rooms in Dubai

  

    Dubai / Emirates Business The mid-market hospitality sector is set to grow significantly in the UAE, over the next few years, primarily due to the upcoming Expo2020 envisioned by His Highness Sheikh Mohammed bin Rashid Al Maktoum – Vice President and Prime Minister of the UAE and Ruler of Dubai. Other contributing factors for the growth are rise in ...

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• 23 April

  Etisalat to offer 60% discount on smartphones

  

    Abu Dhabi / Emirates Business A mega promotion by Etisalat offers both post-paid and prepaid mobile customers up to 60 percent discount on a wide range of smartphones. Starting April 24, the ‘Etisalat Smartphone Sale’ is a limited time offer on mobile devices across Etisalat’s select Business Centres and key retail outlets in the UAE. Brands available for customers ...

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• 23 April

  Expo 2020 Dubai delegation participates in Think Science Fair

  

    Dubai / Emirates Business Expo 2020 Dubai participated in this year’s edition of Think Science, a nation-wide initiative under the patronage of His Highness Sheikh Abdullah bin Zayed Al Nahyan. The three-day event took place at the Dubai World Trade Centre during April 17-19, and engaged hundreds of UAE youth to develop, design and build science-based innovations that respond ...

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• 23 April

  3 years on, Rana Plaza replay looms

  

    Dhaka / AFP As they jostle for space on the floor, with the door to their fire escape padlocked, the seamstresses cannot help but recall the carnage when another of Bangladesh’s garment factories collapsed three years ago. “We always worry what will happen if a blaze breaks out or the building caves in,” one woman worker said on condition ...

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• 23 April

  Mitsubishi to pay owners of fuel-cheating cars

  

    Tokyo / AFP Japanese automaker Mitsubishi Motors plans to compensate customers in a bid to limit the fallout from a fuel-efficiency cheating scandal, the Nikkei reported on Saturday. Authorities raided the company’s office on Thursday after the company admitted it had falsified efficiency data for hundreds of thousands of vehicles. Mitsubishi Motors shares plunged more than 40 percent in ...

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• 23 April

  Reliance profit climbs to highest

    Mumbai / Bloomberg Reliance Industries Ltd.’s fourth-quarter profit climbed 17 percent to the highest in more than eight years as oil’s collapse improved margins from turning crude into fuels and petrochemicals. Net income at the operator of the world’s biggest refining complex increased to $1.1bn in the three months ended March 31 from 62.4 billion rupees a year earlier, ...

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• 23 April

  Sony delays forecasts to assess quake fallout

    Tokyo / Bloomberg Sony Corp. will postpone its forecasts for the current fiscal year while it assesses the damage from an earthquake that shut its main plant for camera sensors. The Japanese company said it won’t provide its usual financial outlook when it reports earnings on April 28 and will instead announce guidance in May. On Thursday, the company ...

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• 23 April

  Carry trade gains traction as currency volatility turns lower

  

    Bloomberg Conditions in the $5.3 trillion foreign-exchange market have turned supportive for one of the most popular trading strategies — the carry trade. Returns from the technique, in which investors borrow in currencies with low interest rates and use the proceeds to buy an asset with higher rates, advanced this week to the highest levels since December, according to ...

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• 23 April

  Brazil cuts jobs for 12th month as recession deepens

    Bloomberg Brazil shed more than 100,000 formal jobs in March as a second year of recession pummels a labour market that’s not expected to improve in 2016 regardless of how President Dilma Rousseff’s impeachment process plays out. The March result of 118,776 jobs lost marked the 12th straight month of employment decline, the longest run of negative prints since ...

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