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25 April 2017 Dubai, UAE – Emirates Integrated Telecommunications Company PJSC (“du”) today published its financial results for the first quarter of 2017 showing a 2.5% rise in revenue to AED 3.17 billion. Net Profit before royalty decreased by 16.7% to AED 851.2 million, compared with Q1 2016 Advertisement (AED Millions) First Quarter Analysis   Q1 2016 Q1 2017 % change Revenue (AEDm) 3,089.6 3,166.4 2.5%        […]

By Nichola Saminather | SINGAPORE SINGAPORE Asian equities advanced on Tuesday as the return of risk appetite following a centrist victory in the first round of the French presidential election lifted several regional markets to multi-year highs, while the euro retained most of its overnight gains. Safe-haven assets, including the yen and gold remained under pressure, while the Canadian dollar fell after the U.S. announced new duties […]

Saudi Arabia is about to cast off its oil-dependence, build brand-new industries and open its economy to foreign investment, according to the government. That might make it a good time to buy into a Saudi bank. And substantial stakes in two of them are up for sale. But in both cases, it’s international lenders who are seeking to get out – and there are no big-name global […]

The finalized prototype of Google self-driving car. First, it was just a dream. Then it became a quirky research project undertaken by a handful of the nerdiest engineers in the robotics industry. Now self-driving cars are on the brink of transforming transportation. The industry creating the technology for autonomous vehicles has morphed from a collaborative space of free-flowing ideas into a high-speed road race where the winners […]

· Emaar Hospitality Group, which marks its tenth year in operation, now has 26 upcoming projects · Showcases its portfolio of 10 operational hotels and three serviced residences, and other new properties at the premier travel, tourism and hospitality event 24 April 2017 Dubai, UAE – Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties, today unveiled six new hotel projects as part of […]

The Trump administration will impose tariffs on Canadian exports of softwood lumber to the US after concluding that Canada subsidises the industry in a way that is detrimental to the US. Wilbur Ross, US commerce secretary, told the Financial Times that the US would impose tariffs ranging from 3 per cent to 24 per cent on five Canadian lumber exporters. The Canadian companies are Canfor, J.D. Irving, […]

By Yashaswini Swamynathan U.S. stock index futures rose sharply on Monday, tracking European and Asian stocks, as investors breathed a sigh of relief after Centrist candidate and market favorite Emmanuel Macron won the first round of the French election. * Polls showed pro-EU Macron is expected to beat right-wing rival Marine Le Pen in a deciding vote next month, reducing the chances of France taking a Britain-like […]

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Risk is definitely on this morning as European shares soar, led by French stocks and a new record high in Germany’s Dax, after a “French relief rally” in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month, and who is seen as a 61% to 39% favorite to defeat Le Pen […]

LONDON British luxury retailer Jimmy Choo (CHOO.L) is seeking offers for the company as part of a review of its strategic options to maximize shareholder value, it said on Monday. The firm, which specializes in shoes and accessories, said it had discussed the strategic review process with its majority shareholder, JAB Luxury, which has confirmed it is supportive of the process. JAB Luxury holds 67.7 percent of […]

The federal government has announced it has agreed to enhanced cybersecurity cooperation with China, following discussions between Prime Minister Malcolm Turnbull, Foreign Minister Julie Bishop, and Secretary of the Chinese Communist Party’s Central Commission for Political and Legal Affairs Meng Jianzhu. During the discussions held last week in Sydney, Australia and China agreed that neither country would conduct or support cyber-enabled theft of intellectual property, trade secrets, […]

BEIJING Washington’s move to probe steel imports could trigger a trade dispute between the United States and its major trading partners, who are likely to take retaliatory steps, the official China Daily said in an editorial on Monday. The article was the strongest official response yet to U.S. President Donald Trump on Thursday launching an investigation of China and other steel producers for dumping cheap steel products […]

Investigators said Levashov was believed to have been “carrying out this type of (hacking) activity for more than 10 years, earning huge profits” US authorities moved Monday to take down a global computer botnet behind the massive theft of personal data and unwanted spam emails, as Spain arrested the notorious Russian hacker who operated it. US authorities say the Russian, Piotr or Peter Levashov, had operated the […]

24 April 2017 Dubai – Commercial Bank International (CBI or ‘The Bank’) today announced its financial results for the first quarter (Q1) 2017. Financial highlights – three-months ended 31 March 2017: ·         Operating Income increased by 9% to AED 203 million versus AED 187 million in Q1 2016. ·         Net profit of AED 21 million. Advertisement ·         Net interest income increased by 10% to AED 126 million […]

Dubai’s transport authority has revealed details of a major expansion of the city’s public bus network. The Public Transport Agency of the Roads and Transport Authority (RTA) opened 11 new bus routes including 10 metro feeder services, and improved 13 other routes starting from last Saturday. “The move is intended to bring more happiness to public transport users in general and bus riders in particular. It also […]

By Rodrigo Campos and Megan Davies | NEW YORK NEW YORK U.S. stock index futures rose sharply on Sunday on relief that centrist Emmanuel Macron took the first round of voting in the French presidential election, reducing the prospect of an anti-establishment market shock. Macron will face far-right leader Marine Le Pen in a May 7 runoff and opinion polls on Sunday had him easily winning the […]

For Myanmar’s first generation of bank customers, there is little difference between a Visa card and one from China’s state-controlled card-payment monopoly, UnionPay. With only 2 per cent of the Southeast Asian nation’s 53m people carrying plastic in their wallets, UnionPay’s rapid push into the frontier market will make its red, blue and green logo one of the first that Burmese youth see when opening an account […]

23 April 2017 H.E Ali Salim Al Midfa, Chairman of Sharjah Airport Authority, was re-elected to serve a second term as Regional Board Director, during the 12th Regional Assembly of the Airports Council International (ACI) Asia Pacific, which was held in Doha, Qatar, last week. H.E was re-elected for another three-year term, as one of the 13 Regional Board Directors, by a majority of votes by the […]

The euro surged in early Asian trading after Emmanuel Macron, investors’ preferred candidate, appeared on track to make it through to the final round of the French presidential election, which opinion polls suggest he will win. Mr Macron, who supports open markets and France staying in the EU, won 23.7 per cent of the vote in the first round vote on Sunday, according to three estimates for […]

WASHINGTON President Donald Trump said on Sunday he expected Mexico to pay for the wall he has promised to build along the southern border, resuscitating a campaign promise that roiled U.S. relations with Mexico in the first week of his presidency. “Eventually, but at a later date so we can get started early, Mexico will be paying, in some form, for the badly needed border wall,” Trump […]

Saudi Arabia and Oman will lead the GCC’s multi-billion dollar investments in cultural tourism, with a series of projects to develop new world-class attractions, according to a new report.  The research, compiled by Colliers International, said Saudi Arabia is ready to invest up to $2 billion – one of the highest commitments of any government to cultural tourism in the region – with a number of projects […]

By Michelle Martin | COLOGNE, Germany COLOGNE, Germany The anti-immigrant Alternative for Germany (AfD) party on Sunday chose a tough-talking former member of Chancellor Angela Merkel’s conservatives and an economist to lead its campaign for a September election in a line-up likely to drag the group further right. The party had stolen voters from Merkel during the migrant crisis but now looks less of a threat on […]

BERLIN German Finance Minister Wolfgang Schaeuble is not worried by the prospect of cuts to corporate tax rates in the United States he told German magazine Wirtschaftswoche on the sidelines of the IMF and World Bank spring meetings in Washington. U.S. President Donald Trump on Friday promised a big announcement about tax reform shortly and ordered a review of Obama-era tax rules written to discourage U.S. companies […]

When future historians look back at the beginning of the 21st century, they’ll note that we grappled with many big issues. They’ll write about the battle between nationalism and globalism, soaring global debt, a dysfunctional healthcare system, societal concerns around automation and AI, and pushback on immigration. They will also note the growing number of populist leaders in Western democracies, ranging from Marine Le Pen to Donald […]

When North Korean traders give Li Jian long lists of the goods they want to buy, he checks the items against a 236-page Chinese translation of the UN sanctions imposed after Kim Jong Un’s regime conducted a sixth nuclear weapons test in September.  “If it’s on the sanctions list, we can’t provide it,” Mr Li said from his office in downtown Dandong, the Chinese border city through which […]

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