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  Abu Dhabi / Emirates Business Abu Dhabi National Insurance Company (ADNIC) announced on Tuesday its financial results for the first six months ended on June 30. The Company reported a net profit of AED 107.4 million for this period, a significant growth over the same period of last year. The company’s net technical profit contributed AED 59.9 million towards ...

  Bloomberg Randstad Holding NV agreed to pay $429 million for jobs site Monster Worldwide Inc., one of the first e-commerce companies to go public in the 1990s at the dawn of the Internet era. Randstad will acquire Weston, Massachusetts-based Monster for $3.40 a share in cash, the companies said in a statement on Tuesday. That’s 23 percent above Monster’s ...

  Brussels / AFP EU member states let Spain and Portugal off the hook on Tuesday, deciding against fines for their repeated breach of budget deficit rules meant to bolster growth and the public finances. EU Commissioner for Economic and Financial Affairs Pierre Moscovici said the decision reflected “an intelligent application” of the Stability and Growth Pact which sets the ...

  Dubai / WAM Emirates Airline, voted the World’s Best Airline 2016 at the Skytrax World Airline Awards, announced on Tuesday that it will operate its flagship A380 on services between Dubai and Guangzhou from 1st October 2016, the 67th National Day of People’s Republic of China. This follows the airline’s recent announcements of A380 deployment on its Milan and Johannesburg ...

  Dubai / WAM Dubai Chamber of Commerce and Industry is organising the Global Business Forum on Latin America, which will be held at Atlantis the Palm hotel in Dubai from November 9-10, under the theme of “Shifting Synergies”. The forum is under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the ...

  AFP China’s producer prices fell at their slowest rate in nearly two years in July, the government said, a sign of improving conditions in the world’s second largest economy. The producer price index (PPI), which measures the cost of goods at the factory gate, fell 1.7 percent year-on-year last month, the National Bureau of Statistics (NBS) said, as a ...

  TOKYO / AP China’s passenger-vehicle sales accelerated the most in 17 months, as General Motors Co. and Guangzhou Automobile Group Co. boosted deliveries and dealers offering discounts helped clear inventories in the world’s biggest auto market. Retail sales of cars, sport utility and multipurpose vehicles climbed 23 percent to 1.6 million units in July, the biggest monthly percentage gain ...

  Ajman / Emirates Business The Ajman Tourism Development Department (ATDD) announced that the emirate earned AED200 million in tourism revenues from a total of 272,021 visitors in the first half of 2016. Tourism revenues from April to June 2016 reached AED92 million, 11 percent higher compared to the same period in 2015. Total guests for the period are 129,617 ...

  Dubai / Emirates Business UAE-based telecommunications service provider – du, announced the establishment of UAE 5G Innovation Gate (U5GIG). The U5GIG has been envisioned to be a consortium of technical and academic organisations in UAE as well as global telecom vendors to plan and use their expertise to define and develop a global 5G network that will radically change ...

  Bloomberg The wave of office buildings under construction in London is a bigger threat to rents and values than the risk of companies moving out after the UK’s vote to leave the European Union, according to UBS Group AG. “We saw a build-up of oversupply of office space long before Brexit which can’t be stopped,” Thomas Wels, global head ...