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  Alkesh Sharma / Emirates Business Creativity and innovation are the buzzwords around which the future economic plans and strategies of the United Arab of Emirates revolve around these days. UAE leadership announced a detailed plan worth over AED300 billion to become a “knowledge-based economy” and end dependence on oil for sustainable growth. “UAE is witnessing burgeoning corporate ecosystem where ...

  LONDON / AP Britain has jumped. Now it is wildly searching for the parachute. The UK’s unprecedented decision to leave the European Union sent shockwaves through the nation and around the world, rocking financial markets, toppling Prime Minister David Cameron and even threatening the ties that bind the United Kingdom. Britons absorbed the overwhelming realization that their anti-establishment vote ...

  Tribal Areas / WAM The UAE-Pakistani Friendship Road, funded by the Abu Dhabi Fund for Development (ADFD) at cost of US$60.6 million, has been inaugurated in the Federally Administered Tribal Areas (FATA) in Pakistan. The move follows the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of ...

  Tokyo / Bloomberg Japanese companies, which have embarked on a $210 billion global acquisition spree over the past three years, are getting a surprise bargain out of Brexit. The yen soared to the highest in more than two years, boosting local firms’ purchasing power for deals abroad and potentially saving them hundreds of millions of dollars on purchases they’ve ...

Bloomberg As executives digest the news of the U.K.’s vote to leave the European Union, they’re cautioning that business will suffer — affecting everything from beach vacations to wristwatch ads to initial public offerings of stocks. Companies exposed to the U.K. economy warned that the decision could slow growth and prompt them to cut their investments in the country, and ...

  BLOOMBERG The pound just had its worst day ever, and few analysts expect the U.K. currency to recover all of the losses that sent it to its lowest level since 1985 — at least, not in the foreseeable future. BNP Paribas SA, one of the biggest sterling bulls before Britain voted to leave the European Union, cut its third-quarter ...

  Bloomberg U.S. stocks plunged the most in 10 months, joining a selloff in global risk assets on speculation that the the U.K. decision to leave the European Union will hamper worldwide growth. Equities sank to session lows in afternoon trading, with the Dow Jones Industrial Average sliding more than 600 points. The S&P 500 Index extended losses after falling ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) received international recognition and was awarded a Letter of Appreciation from the United Nations World Summit on the Information Society (WSIS) Prizes 2016, in the Champions category for its Smart Power Plant System. DEWA launched the system in February this year to develop its smart operations and foster development ...

  Dubai / Emirates Business The Telecommunications Regulatory Authority (TRA) launched on Thursday ‘Erteqa’ a new initiative which aims to increase the level of customer services across the UAE’s telecoms sector. The initiative was inaugurated during a press conference held at the Four Seasons Resort Dubai. The initiative which is under the patronage of HH Sheikh Mansour bin Zayed Al ...

  Ritika Sharma / Emirates Business With smartphone penetrations mounting at startling pace and rapid proliferation of technological devices combined with increasing spendable income of residents, the UAE is vigorously embracing technological creations and moving towards a hyper-connected future. Testimony to the aforesaid statement is the fact that GfK Connected Consumer Index, which studied data of nearly 78 countries, has ...