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Hidd Al Saadiyat: New address of luxury

  ALKESH SHARMA / Emirates Business With around 1.5 million square meters of natural beachfront land and 7-kilometer of waterfront with easy access to the beach from every unit, Hidd Al Saadiyat offers a marvelous housing option that is strategically positioned on the picturesque outskirts of Abu Dhabi. Located in Saadiyat Island, the cultural district of the capital, Hidd Al ...

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Australia unveils election budget to boost economy

  Canberra / AFP Australia’s government on Tuesday unveiled an election-focused budget to shore up economic growth amid a rocky transition from dependence on mining, doling out tax cuts for individuals and businesses. The annual announcement came as the central bank slashed interest rates to a new record low of 1.75 percent, following recent unexpectedly weak consumer prices, in order ...

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EU reduces Euro-area inflation forecast, warns nations on debt

  Bloomberg The European Commission told the euro area’s largest economies to reduce debt and modernize labor markets as it again slashed its inflation forecast and warned of slower-than-predicted growth across the 19-nation bloc. France, Spain and Italy, which have persistently failed to hit European Union budget targets, are still off track, the Brussels-based commission said. Gross domestic product in ...

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Italy to miss debt-reduction goal with slower growth: EU

  Bloomberg The European Commission predicts Italy will fail to meet its debt-reduction goal this year and sees the country’s economy growing less than PM Matteo Renzi’s government estimates. Italy’s debt ratio will remain at 132.7 percent of gross domestic product in 2016, the same level as last year, the European Union’s executive branch said on Tuesday in its spring ...

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Gasoline usage in USA rises most in nearly four decades

  Bloomberg U.S. gasoline demand rose at the fastest annual rate in almost 40 years in February as stronger economic growth and cheap fuel prices spur driving in the world’s biggest oil consumer. The Energy Information Administration said late on Friday that U.S. gasoline demand rose to 9.2 million barrels in February, up 556,000 barrels a day from a year ...

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Turning the pages of history

    Ritika Sharma / Emirates Business Nestled in the hustle-bustle of the ongoing Abu Dhabi International Book Fair (ADIBF), a wood-designed pavilion hogged much of the limelight with the superlatives of rare books collected from across the globe. From the first edition of the first scientific description of ancient and modern Egypt, to the only surviving leaflet of one ...

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Etihad introduces A380 service to India

  Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, introduced Mumbai to its Airbus A380 network with the launch of daily scheduled flights featuring its award-winning The Residence – the world’s first three-room suite on a commercial airliner. Flight EY204 from Abu Dhabi landed at Chhatrapati Shivaji International Airport in Mumbai on Sunday ...

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Int’l centre for 3D printing launched

  Dubai / WAM Dubai Holding launched the International Centre for 3D Printing in line with the directives of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, to make Dubai an International destination for 3D printing by 2030. The project, at Dubai Industrial City, will create a suitable atmosphere and provide ...

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DGCX crosses 6mn contracts

  DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) crossed 6 million contracts in April, growing 45% over the same period last year whilst maintaining a steady Average Daily Open Interest of 109,487 contracts. Growth was primarily driven by DGCX’s currency segment, which saw a substantial increase of 43% compared to the same period last year trading 5,740,764 ...

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Dubai to host largest materials library

  Dubai / WAM The first materials library of its kind in the world is all set to open in Dubai this year. The pioneer project will be the first in the world accessible to both design related industries and the public. D-Town Library will have capacity to display thousands of materials — becoming the largest archive in the globe. ...

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