February, 2016

• 17 February

  Strong int’l contingent expected at GESS

  Dubai / Emirates Business A strong international contingent is expected to attend the 9th edition of the GESS Dubai, the leading education show and conference in the Middle East. Over 500 exhibitors have so far confirmed their participation. Six different country pavilions are present at the show, including Korea, Finland, Germany, China, as well as the UK and the USA. ...

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• 17 February

  ‘Innovation Arabia 9’ to host experts in health, environment & smart education

  

  Abu Dhabi / EMIRATES BUSINESS Under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and President of Hamdan Bin Mohammed Smart University (HBMSU), the much awaited Innovation Arabia 9 (IA9) Congress is set to kick off in March, under the theme ‘Accelerating Innovation towards Sustainable Economy.’ A select group of regional and ...

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• 17 February

  UAE residents not saving enough to enjoy retirement

  

  Dubai / Emirates Business There is an alarming disparity between people’s desired retirement lifestyle and the amount they are currently saving, according to a survey by the Dubai-based financial planning company Guardian Wealth Management (GWM). GWM conducted a survey of its 3,000 Gulf-based clients asking them about the type of lifestyle they hope to lead upon retirement and the percentage ...

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• 17 February

  China plans new steps to juice up ‘fragile’ economy

  

  Beijing / Bloomberg China is stepping up support for the economy by ramping up spending and considering new measures to boost bank lending. The nation’s chief planning agency is making more money available to local governments to fund new infrastructure projects, according to people familiar with the matter. Meantime, China’s cabinet has discussed lowering the minimum ratio of provisions that ...

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• 17 February

  India launches world’s cheapest smartphone

  

  New Delhi / AFP A little-known Indian company has launched a smartphone believed to be the cheapest in the world, targeting a market already dominated by low-cost handsets. Set to be priced at under 500 rupees ($7.30), domestic handset maker Ringing Bells’ Freedom 251 smartphone is about one percent of the price of the latest Apple iPhone. Ringing Bells was ...

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• 17 February

  Nissan to build cars in Myanmar for first time

  

  Yangon / AFP Japanese auto giant Nissan will start assembling cars in Myanmar for the first time this year, the company said on Wednesday, as it expands its presence in one of Asia’s final economic frontiers. Foreign companies have piled into the Southeast Asian nation since reforms began in 2011, eager to tap into a 51.5 million-strong pool of potential ...

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• 17 February

  Japan’s economic woes cast shadow on Abe’s twin poll option

  

  Tokyo / Bloomberg With Japan’s economy shrinking, the stock market in turmoil, and a stronger yen threatening export earnings, Prime Minister Shinzo Abe’scalculus on whether to call a snap general election this summer has suddenly grown more complicated. Another win in the lower chamber along with an expected victory in the upper house vote set for the summer could allow ...

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• 17 February

  Emirates Securities Market index up by 0.16 percent

  

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 0.16% to close at 4168.24 points. Accordingly the Market Capitalization has gained AED1.09 Billion attaining AED 676.14 Billion. A total of 454.37 Million Shares were traded with a total value of AED0.52 Billion during the trading session of 17-02-2016 through 5465 transactions. The number of companies which has been ...

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• 17 February

  Asian stocks down, oil struggles

  

  Hong Kong / AFP Most Asia stock markets went into reverse on Wednesday after a recent rally, with energy firms down and oil unable to hold early gains after an output freeze by top producers Saudi Arabia and Russia left investors disappointed. The commodity had enjoyed a surge from Friday to early Tuesday as Moscow and Riyadh — the world’s ...

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• 17 February

  Nasdaq up 2.3 percent as USA markets gain

  New York / AFP Beaten-down technology and banking shares jumped Tuesday as US stocks shrugged off a drop in oil prices to move firmly higher. The Dow Jones Industrial rose 222.57 points (1.39 percent) to 16,196.41. The broad-based S&P 500 climbed 30.80 (1.65 percent) to 1,895.58, while the tech-rich Nasdaq Composite Index jumped 98.44 (2.27 percent) to 4,435.96. Apple and ...

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