Lego is undertaking the biggest organisational shake-up in its 84-year history, in a move aimed at exploiting its toy brand more broadly after a decade of strong growth for the maker of plastic bricks. Under the Danish toymaker’s new structure, its current chief executive, Jorgen Vig Knudstorp — who rescued the brand from near financial collapse in 2004 — will become chairman, taking over from Niels Jacobsen. […]
BANGKOK Floods in Thailand have killed 14 people and badly affected southern holiday islands as the country heads into the December-January high season for tourism, authorities said on Tuesday. A low pressure system has brought heavy rain to parts of the south including the islands of Samui and Pha Ngan in the Gulf of Thailand, and floods have also severed the rail link to the south and […]
The inaugural event will serve as a platform for industry wide knowledge exchange and discussions around legacy creation 06 December 2016 Dubai, United Arab Emirates: Dubai Business Events in collaboration with the BestCities Global Alliance and the Professional Convention Management Association (PCMA), inaugurated the first ever BestCities Global Forum yesterday. Dubai is proud to host the first event of its kind organised by the global alliance, set […]
By Julia Love | SAN FRANCISCO SAN FRANCISCO Sales of the Apple Watch to consumers set a record during the first week of holiday shopping, and the current quarter is on track to be the best ever for the product, Apple Inc (AAPL.O) Chief Executive Tim Cook told Reuters. Responding to an email from Reuters, Cook said the gadget’s sell-through – a measure of how many units […]
Flat6Labs Abu Dhabi, a digital media accelerator supported by twofour54 Abu Dhabi, showcased eight new start-up companies during its third Demo Day. The Demo Day, held under the patronage of HE Noura Al Kaabi, Minister of State for Federal National Council Affairs of the UAE and Chairwoman of the Media Zone Authority-Abu Dhabi, and twofour54, took place during the UAE Innovation week. In addition to the diverse […]
Tuesday 02.00 GMT Overview Stocks across Asia were higher, taking their lead from US and European bourses that shrugged off the result of a No vote in Sunday’s Italian referendum on constitutional reform. Hot topic China’s renminbi has become a talking point after a handful of web sites, including Google, generated apparently erroneous quotes for the currency around Rmb7.48 per US dollar — a rate that would […]
By Swati Pandey and Charlotte Greenfield | WELLINGTON WELLINGTON New Zealand Finance Minister Bill English said on Tuesday he planned to stand for prime minister after John Key’s surprise resignation a day earlier. English, a former Treasury Department analyst who is also deputy leader of the ruling centre-right National Party, is viewed by both lawmakers and political analysts as the front-runner for the top job. “I can […]
The great American corporate buyback party was expected to fizzle out next year, leaving a hangover of debt and remorse. Instead, the boom may soon find renewed succour if US companies bring their pile of foreign-based cash back home. A tax holiday for US companies looms under president-elect Donald Trump, with some seeing this wave of cash as the catalyst of an investment boom and faster US […]
Bahrain, 5 December 2016 DHL Express, the world’s leading express and logistics provider, has renewed its long-standing partnership with the Muharraq Club, one of Bahrain’s most reputed sports clubs and one of the oldest and most recognised in the GCC region. The two entities signed an agreement during a small ceremony held at the DHL Regional Office Muharraq, under which DHL extended its sponsorship support for the […]
Shipments of wearable devices continued to rise in the third quarter of 2016, according to the latest data from IDC. But while the segment experienced growth overall, there’s mounting disparity among the top providers. As has been the case for much of 2016, fitness bands, which are part of IDC’s “basic wearables” category, were the top-selling wearable devices in Q3 and accounted for 85 percent of the […]
Crystals that don’t experience mechanical stress during growth, will be of superior quality. Researchers are looking into the ability to levitate the liquid metal in a new study. (via WSJ)
By Jonathan Spicer | NEW YORK NEW YORK The U.S. election of Donald Trump has created “considerable” uncertainty over the policies he will pursue so it is too soon for the Federal Reserve to judge whether its plan for gradual interest rate hikes needs adjusting, one of the most influential Fed policymakers said on Monday. In a speech that stepped well into fiscal policy, including a nod […]
Facebook CEO Mark Zuckerberg introduces a new messenger platform at the F8 summit in San Francisco, California, on March 25, 2015 Facebook on Monday began letting interactive “bots” inside its Messenger service tap into analytic capabilities once reserved for the social network, ramping up the potential to earn money from e-commerce. The move comes as Facebook is under pressure to profit from services such as Messenger, WhatsApp […]
Real estate agents in Dubai will not be allowed to market any property unless they sign a written agreement with unit owners, according to Dubai Land Department. “Form A” – a contract between property owner and real estate broker – has to be signed by both parties which then allows the latter to market the property – online or in print media. While “Form A” has been […]
Shares in Italian banks opened sharply lower Monday morning after voters rejected the country’s constitutional reform referendum, with investors questioning whether some of Italy’s largest financial institutions will now be able to raise capital needed to shore up their finances. Milan’s stock market benchmark, the FTSE Mib, was down 1.4 per cent to 16,857.0 in opening trading, led lower by its banks after Matteo Renzi, Italy’s prime […]
SHANGHAI Chinese trainmaker CRRC (601766.SS)(1766.HK) plans to build more factories abroad as part of its plan to double sales outside of China to up to $15 billion by 2020, state-run China Daily reported on Monday. CRRC expects a total of $8 billion worth of orders from overseas customers this year, and was also open to teaming up with competitors to win bids in some markets, company executives […]
Beirut, Lebanon, December 4, 2016 : (ME NewsWire) During a special honoring ceremony held at the Four Seasons Hotel in Dubai, the publishers of Global Reinsurance and StrategicRISK announced the winners of the 2016 MEA Risk & Insurance Excellence Awards, honoring Mr. Farid Chedid, Chairman and CEO of Chedid Re, a Chedid Capital Holding company, as the ‘MEA Industry Achiever of the Year’. The prestigious title awarded […]
The family of a woman killed in the 2015 Paris attacks by ISIS claims in a lawsuit that Twitter, Facebook, and Google profit from targeted advertising linked to terrorist propaganda promoting violence. As Bloomberg reports, the case is one of several complaints in U.S. courts alleging that the social media giants have played crucial roles in the growth of terrorist organizations in recent years. The biggest hurdle […]
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flatline in 2017 before gradually moving higher over the next few years, according to Fitch Ratings. The ratings agency said it expects supply and demand to be broadly balanced in the first half of next year, with a move to a more pronounced deficit from July onwards. […]
Italians and Austrians headed to the polls in closely watched votes on Sunday that will gauge the strength of Europe’s populist and extreme right political parties. Italy’s constitutional referendum on Sunday will determine the political future of prime minister Matteo Renzi and test anti-establishment parties in the eurozone’s third-largest economy. The plebiscite on Mr Renzi’s flagship overhaul — which would shrink the powers of the Italian senate […]
Meetings held with Ministry of Trade, Industry & Energy and Korea Diamond Exchange 04 December 2016 Dubai, UAE: As part of the ongoing efforts of the UAE Kimberley Process Chair (KP Chair), Ahmed Bin Sulayem, to engage countries across the diamond supply chain, he has held meetings with senior government and industry representatives in South Korea. The aim of these discussions was to deliberate ways to bolster […]
Emirates National Oil Co (ENOC) has announced plans to build 54 new service stations over the next four years. The expansion plan kicked off with the opening of a gas station in the Dubai International Academic City area, the company said in a statement. Saif Humaid Al Falasi, Group CEO of ENOC, said: “Our service station expansion programme is part of ENOC’s wider growth strategy over the […]
Hotels operating in the UAE continued to see declines in occupancy and room rates during October, according to the latest data from industry consultants STR. It said the UAE’s hospitality sector reported an occupancy dip of 2.9 percent during the month to 75.6 percent, while average daily rates (ADR) dropped 9.6 percent to AED668.05, the lowest for an October since 2005. As a result, revenue per available […]
By Arno Schuetze | FRANKFURT FRANKFURT Deutsche Bank’s Global Markets division will cut ties with about 3,400 clients in its debt and equities sales activities, the bank said on Friday. Deutsche Bank will immediately cease debt sales services to some financial institutions and hedge funds as well as equity sales activities, the execution of equities trading orders and equity structuring activities for some clients, a spokesman said, […]
