May, 2016

• 21 May

  UAE professionals positive about future job options, personal finances

  

    Dubai / Emirates Business Visa Inc. — a global payments technology company — has announced results of the Professionals Study conducted in the UAE. The study is part of a global research by Visa that looks at consumer spending habits, priorities and optimism about the future. The UAE study, based on responses from UAE citizens and residents aged 18-to-55 ...

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• 21 May

  Hardware makers set to tap ME

  

    Emirates Business As the Middle East’s construction and infrastructural expansion continues apace, resulting in driving demand for quality hardware, tools and machinery, international brands continue to use Hardware+Tools Middle East as a regional launch platform for new and innovative products. At the upcoming edition of the region’s premier trade show for hardware, tools, materials and machinery, a series of ...

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• 21 May

  New foam tech solutions to boost energy efficiency in Saudi Arabia

  

    Emirates Business Honeywell (NYSE: HON) and Bayer Pearl have unveiled new spray foam insulation technology solutions that can improve energy efficiency in residential and commercial buildings in the Kingdom of Saudi Arabia. With 1.5 million new homes needed to keep up with local population growth, energy demand in the country is anticipated to double by 2030. In anticipation of ...

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• 21 May

  Subaru to maintain focus on production in Japan

  

    Tokyo / Bloomberg Fuji Heavy Industries Ltd., the carmaker most reliant on exports from Japan, said it’ll stick to a strategy of producing the bulk of the company’s Subaru vehicles at home as the yen strengthens. The owner of Subaru brand, long known for all-wheel-drive vehicles, doesn’t want to focus narrowly on the impact of foreign exchange, Chief Executive ...

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• 21 May

  Apple chief meets Indian premier

  

    New Delhi / AFP Apple chief executive Tim Cook met Prime Minister Narendra Modi in New Delhi on Saturday, launching a new version of the Indian leader’s eponymous app on a visit aimed at pushing the technology giant’s expansion plans. Cook, shown in a video using the premier’s gold-coloured iPhone, launched an update to the Narendra Modi Mobile App to ...

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• 21 May

  Pakistan cuts key rate to boost growth

    Islamabad / Bloomberg Pakistan’s central bank unexpectedly lowered its benchmark interest rate for the first time since September to boost economic growth before the government presents its budget for the new financial year. The State Bank of Pakistan cut the target policy rate to 5.75 percent from 6 percent, it said Saturday in an e-mailed statement in Karachi. All ...

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• 21 May

  Sri Lanka holds rates for a 3rd month after IMF loan agreement

  

    Colombo / Bloomberg Sri Lanka left its benchmark rates unchanged for a third straight month after it agreed a $1.5 billion loan from the International Monetary Fund to help improve public finances. The Central Bank of Sri Lanka kept the standing lending facility rate at 8 percent and the standing deposit facility rate at 6.5 percent, it said in ...

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• 21 May

  HSBC’s slimming plan may be healthy for India

  Singapore / Bloomberg HSBC’s weight-loss drive in India could leave the country’s banking system feeling a little breathless. But the health benefits will eventually show up. The UK-based lender will close half its branches in the country, which last year accounted for 3.2 percent of the group’s pre-tax profit. Assuming that the bank’s strategy of serving more of its Indian ...

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• 21 May

  Post-Brexit EU trade deals ‘extremely difficult’: Osborne

  

    Japan / AFP British finance minister George Osborne warned on Saturday that the UK would find it “extremely difficult” to conclude trade deals with EU countries if it quit the bloc. Speaking to the BBC at a meeting of G7 finance ministers in Sendai, Japan, Osborne said it would be tough to strike those deals while also trying to ...

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• 21 May

  Investec boosts non pound bond holdings on Brexit concern

  

    Bloomberg The pound may have rallied amid evidence U.K. public opinion is shifting away from a Brexit, but one fund manager isn’t taking any chances. Investec Wealth & Investment Ltd. has increased its holdings of non-sterling government bonds to protect against a slide in the U.K. currency should citizens vote to quit the European Union on June 23. The ...

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