May, 2016

• 29 May

  Samsung commands GCC mobile phone market

    ALKESH SHARMA / Emirates Business The GCC nations, led by UAE, are one of the biggest markets of smartphones globally. In a bid to beat the mounting competition and grab the maximum market share, mobile phone companies are adopting many innovative strategies, specially customised for this region. South Korean conglomerate Samsung has emerged as the clear-cut market leader in ...

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• 29 May

  TRA discusses telecom tie-ups

  

    Abu Dhabi / Emirates Business A high-level delegation from the UAE Telecommunications Regulatory Authority (TRA) held discussions during its participation at the recently concluded 27th meeting of the GCC Committee for Undersecretaries of Post and Telecommunications, in Riyadh. Topics covered partnerships in the telecommunications sector especially the recommendations issued by the Secretariat General regarding Post Office Agents Association and ...

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• 29 May

  Dubai a global leader in drive towards happiness

    Dubai / Emirates Business Dubai’s government is a global leader in fostering a start-up approach to drive citizen happiness and the knowledge-based Digital Economy, government and smart technologies experts announced at a special majlis. Attending the majlis, held at the Murjaan Ballroom at the MadinatJumeirah Convention Centre under the theme of, “Citizens of the Future: Run Live, Run Happy,” ...

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• 29 May

  Etisalat Award for Arabic Children’s Literature calls for entries

  

    Sharjah / Emirates Business The eighth edition of the Etisalat Award for Arabic Children’s Literature is now open to accept submissions, with its organisers encouraging publishers, authors and illustrators of Arabic children’s and young people’s books from across the world to send in their entries before the end of August. Organised by the UAE Board on Books for Young ...

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• 29 May

  Kuwait to spend $115 bn on oil projects in next 5 yrs

  AFP OPEC member Kuwait has earmarked 34.5 billion dinars ($115 billion) to spend on oil projects over the next five years, despite the slump in oil prices, a senior executive said. “We have earmarked 34.5 billion dinars for spending on oil projects over the next five years,” Wafa al-Zaabi, head of planning at Kuwait Petroleum Corp, told an oil conference. ...

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• 29 May

  Chinese railway giant to raise US$1.8bn in share sale

  

    Shanghai / Bloomberg CRRC Corp., China’s only maker of high-speed locomotives, plans to raise as much as 12 billion yuan ($1.8 billion) in a private share sale in Shanghai to repay debt and to help finance its daily operations. The company’s board has approved the sale of as many as 1.39 billion yuan-denominated. A shares at 8.66 yuan apiece, ...

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• 29 May

  Coal India profit misses estimates

  

    New Delhi / Bloomberg Coal India Ltd., the world’s biggest producer of the fuel, missed analysts’ estimates for fourth-quarter profit as oversupply of the fuel and lower international prices trimmed earnings. Net income for the three months ended March 31 rose to 42.5 billion rupees ($634 million) from 42.4 billion rupees a year earlier, the state-run monopoly said in ...

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• 29 May

  Japan’s Abe may leave ‘tricky’ tax hike to his successor

  

    Tokyo / AFP Japanese Prime Minister Shinzo Abe intends to push back his debt-loaded country’s next tax hike for two and a half years, when he will likely have left office, reports said on Sunday. Abe on Saturday told his close aides, including Finance Minister Taro Aso, that he intends to push back a planned raise in taxes to October ...

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• 29 May

  S Korean prez to promote trade in Uganda

    Kampala / AFP South Korea’s president arrived in Uganda, the second leg of her Africa tour during which she is promoting business and trade opportunities. President Park Geun-hye was welcomed at Uganda’s Entebbe International Airport by Foreign Affairs Minister Sam Kutesa. This is the first visit by a South Korean president since the two countries established diplomatic ties in ...

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• 29 May

  Quake reconstruction in focus as Nepal unveils $9bn budget

  

    Kathmandu / AFP Nepal’s government unveiled the first budget drawn up since the country introduced a new constitution last September, with a focus on funding reconstruction and reviving the battered economy. Millions continue to live in temporary shelters after a 7.8-magnitude earthquake hit the Himalayan nation in April 2015, killing nearly 9,000 people. Finance minister Bishnu Prasad Poudel outlined ...

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