February, 2016

• 15 February

  Emax expands footprints in GCC

  

  Sunaina Rana Emirats Business Middle East’s largest electronics store has lined up the expansion plan in the GCC region. The company has already achieved a milestone with the launch of 72nd store in the Gulf region at Dubai Mall. With this outlet, Emax has successfully launched 31 outlets in the Emirates. Neelesh Bhatnagar, CEO of Emax, spoke about the company’s ...

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• 15 February

  Chinese festival to enthrall crowds at Al Majaz

  

  Sharjah / Emirates Business A spectacular Chinese Festival will take place at Al Majaz Waterfront, from February 23 – 27. The first of its kind event for Al Majaz Waterfront will feature a range of attractions and activities including Chinese street food, live performances and a dragon boat race. The five-day festival will include several performances such as the dragon ...

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• 15 February

  EU steel workers protest against Chinese imports

  

  Bloomberg European Union industries led by the steel sector mobilized thousands of people for a march in Brussels to warn about job losses from Chinese competition, seeking to persuade EU policy makers to retain a full arsenal of import tariffs. The demonstration in the heart of the EU quarter on Monday sought to dissuade the bloc from recognizing China as ...

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• 15 February

  USA Senators urge Polish leaders to uphold Democracy

  Bloomberg Poland’s new leaders are eroding the country’s democratic record through laws that give the government new powers, three U.S. senators said in a letter to Prime Minister Beata Szydlo. The dispatch by Senators John McCain, Benjamin Cardin and Richard Durbin follows an unprecedented move by the European Union’s executive last month to start a probe into whether rule of ...

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• 15 February

  ‘Laser’ diverts New York-bound flight to Heathrow

  London / AFP A British pilots’ union on Monday demanded action after a laser beam dazzled the co-pilot on a New York-bound flight, forcing the Virgin Atlantic jet to turn back shortly following take-off from London’s Heathrow Airport. Police responded to “reports of a laser shone in the direction of a commercial flight that had taken off at Heathrow” on ...

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• 15 February

  Polish mortgage scheme could hurt banks

  

  Warsaw / AFP Poland’s controversial bid to convert foreign currency mortgages, mostly in Swiss Francs, into the local zloty currency, could “hurt” the Polish banking sector, a global ratings agency warned on Monday. Moody’s said the move by Poland’s new right-wing government would be “credit negative”, hurting the domestic banking sector’s “ability to lend and absorb future shocks”. “It would ...

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• 15 February

  USA sceptical of Beijing using non-navy boats in S China Sea

  

  Bloomberg China’s increased reliance on non-naval ships to assert its claims in the South China Sea is complicating U.S. efforts to avoid a clash in the disputed waters, according to 7th Fleet commander Vice Admiral Joseph Aucoin. While the U.S. and Chinese navies are working more closely under an agreed code for unplanned encounters at sea, the deployment of coast ...

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• 15 February

  HSBC stays in London, snubbing Hong Kong

  

  LONDON / AFP Europe’s largest bank HSBC said it would remain headquartered in Britain, rejecting a move to Hong Kong despite concerns about increased regulation in the UK and a possible split from the EU. The Hongkong and Shanghai Banking Corporation said London’s many advantages meant it was “ideally positioned” to provide a home base. It made no reference to ...

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• 15 February

  Ukraine to make case for Cabinet rejig as another reformer quits

  

  Bloomberg The political crisis roiling Ukraine’s post- revolution leaders is coming to a head after the International Monetary Fund threatened to cut off aid and another top reformer quit. If efforts to revamp the cabinet fail, the risk is early elections. PM ArseniyYatsenyuk is set to report to parliament this week on government performance, with proposed personnel changes to follow. ...

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• 15 February

  A small German city pushes nation’s auto giants on pollution

  

  Bloomberg A leafy city of 275,000 in Frankfurt’s commuter belt is opening a new front in the German car industry’s battle against pollution. An administrative court in Wiesbaden, known for a historic hot spring and a giant U.S. military base, ordered the regional government to clean up diesel exhaust fumes by September or face a fine. The ruling last month ...

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