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Our Correspondent / Emirates Business Gulf is considered as one of the fastest growing perfume industry in the world, speeding up the growth of the industry has been spearheaded by Rasasi perfumes, one of the leading regional oriental fragrance company. Founded in 1979 by Abdul Razzak Kalsekar, the perfume company has been into existence for over four decades now. Rasasi ...

DUBAi / WAM With the approval of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the ministers of the 12th Cabinet of the UAE government took the oath on Sunday before Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, at Mushrif Palace in Abu Dhabi, in the presence ...

Dubai / WAM According to Hussain Nasser Lootah, Director-General of Dubai Municipality, the population of Dubai is expected to increase to five million by 2030. Lootah was speaking on the final day of the fourth World Government Summit in Dubai, in which his speech addressed the issues of the consequences of an increasing population and depleting natural resources, an increase ...

Bloomberg Dubai stocks led a rally across Gulf Arab equity markets after oil jumped the most in seven years on Friday. The DFM General Index rose for the first time in four days on Sunday, gaining 1.6 percent at 10:44 am local time. Emaar Properties PJSC, the developer of the world’s tallest skyscraper and the company with the biggest weighting ...

ABU DHABI / WAM The United Arab Emirates has received a formal request from Ban Ki-moon, Secretary-General of the United Nations, to join the High-level Advisory Group for ‘Every Woman – Every Child’ affiliated with the UN, which was announced by the UN Secretary-General last month in Davos. This came in a letter received by HH Sheikha Fatima bint Mubarak, ...

Moscow / AFP Russia’s President Vladimir Putin and US counterpart Barack Obama held frank talks on Syria amid US concern over Turkish shelling of Kurdish militia targets in northern Syria days before a ceasefire deal is due to take hold. Putin took the call from Obama and both sides “gave a positive evaluation” of the results of talks in Munich ...

RITIKA SHARMA / EMIRATES BUSINESS Dubai Airport Freezone Authority (DAFZA) seems to be turning into a business hotspot for Indian companies. The freezone has reported a 23 percent increase in the number of Indian firms operating within its premises during 2015. Official statistics reveal that India led the list of DAFZA investors last year, accounting for 38 percent of total ...

DUBAi / WAM Gulf Navigation Holding, GULFNAV, the Dubai-based shipping company, has achieved a 101% profit growth by the end of year 2015 compared to the previous year. The company released its latest financial statement amidst its strong and consistent financial turnaround and continuous intensified efforts to address creditor concerns. According to GULFNAV’s financial report, its net income reached AED ...

Dubai / emirates business Drake & Scull International PJSC (DSI) announced its preliminary un-audited financial results for the fiscal year 2015 ended December 31. DSI continued to execute its projects on schedule and reported revenue of AED 1.4 billion in Q4 2015 compared to AED 1.1 billion reported for the same period last year. DSI normalized its profitability following the ...

ABU DHABI / EMIRATES BUSINESS Abu Dhabi Islamic Bank (ADIB) has reported a net profit of AED 1,934 million for 2015, a 10.5 percent increase from a year earlier. The number of customers increased by over 100,000. This reflects the continued growth of ADIB’s main banking activities across all customer segments, particularly its ongoing penetration and targeting of the UAE’s ...