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Alkesh Sharma / Emirates Business In 2014-15, the UAE registered its best economic performance in 44 years by growing its Gross Domestic Product (GDP) to AED1.47 trillion, thanks to 60 percent contribution from the SME sector. Small and Medium Enterprises (SMEs) have clearly emerged as the lifeline of UAE economy. Giving a major boost to this sector, Emirates’ financial institutions, ...

Dubai / Emirates Business A leading network of CEOs and entrepreneurs, the Young Presidents’ Organization contributes much to the growth of the Dubai as an innovation hub, according to a recent report. The December 2015 report by Wamda Research Lab also states that UAE continues to outperform all other MENA countries in global competitiveness and entrepreneurship. Recently, YPO members Muna ...

Abu Dhabi / Emirates Business For the first time in the capital, Marina Mall – Abu Dhabi, the leading shopping destination, hosted prize-winning quilts from the International Quilt Show, Dubai. In parallel, and as part of Her Highness Sheikha Shamma Bint Sultan Bin Khalifa Al Nahyan’s ‘Quilts Are Art’ competition for school children, the mall displayed all the paper quilt ...

RIYADH / WAM Members of the Cooperation Council for Arab States of the Gulf (GCC) have declared their full backing for Saudi Arabia’s decision to conduct a comprehensive review of its relations with Lebanon and halt its US$4 billion arms deals for the Lebanese Armed Forces and Internal Security Forces. “The members of the GCC back the decision which the ...

Critics have already begun writing their obituaries for Abenomics, after the latest disappointing data showed Japan’s economy is yet to get off its hospital bed despite massive monetary stimulus. But for a government searching for more answers, the solution might lie closer to home than in the realm of exotic policy instruments. On Thursday, the Organization for Economic Cooperation and ...

Financial Secretary John Tsang Chun-wah is going to announce the government’s fiscal budget for 2016-17 on Wednesday. The Association of Chartered Certified Accountants Hong Kong (ACCA) estimates that the government will record a surplus of approximately HK$70 billion (US$9 billion). Given there has been a significant surplus consistently over the past few years, leading to the accumulation of fiscal reserves ...

One could argue — and some, like UKIP leader Nigel Farage, already do — that the concessions British Prime Minister David Cameron obtained late on Friday from other European Union leaders in order to stay in the bloc are meaningless. Or one could rejoice in a victory as Cameron does. That won’t change a fundamental fact: The UK is not ...

Alwar / AFP With his rickety bicycle and sackcloth mail bag, 62-year-old Indian postman Chet Ram does not look like a worker at the vanguard of an e-commerce revolution delivering everything from mobile phones to cow manure. He pedals miles each day in rural Rajasthan state, ferrying packages to villages and takes payments in cash because most of his customers ...

Cupertino / DPA When it’s Apple, you know it’s going to be big and bold. And so it is with its new headquarters or “Spaceship Campus,” which will cover 260,000 square meters and has a circumference of 1.6 kilometres in Cupertino, California. Computer-generated images of what it will look like show something resembling a giant glass doughnut, with a green ...

New York / AFP Global markets sagged but still turned in one of the strongest weeks of 2016 despite worries about economic growth and weak commodity prices. China’s intervention to support the yen and scare off devaluation speculators, and a deal struck to possibly avert Britain’s pullout from the European Union, reduced some of the risks that had dogged markets ...