Shoppers world over will have to pay more to buy toys as presents, this Christmas as China increases wages. Hundreds of toy makers at the China Import and Export Fair, have been charging more, as the Chinese economy is...
Japan?s exports have dropped by 12.5 percent in the month of April (compared to its previous year), after the earthquake and tsunami disrupted life in the country. This fall in exports have led the country?s trade balance into a...
The US Treasury has agreed to sell $5.8 billion worth American International Group (AIG) shares, as it winds down ownership of the global insurer. The government is planning to sell 200 million AIG shares at $29 each; which stands...
Following an explosion at the Foxconn Technology Group?s plant (in Chengdu, China), Apple Inc may face a production loss of 500,000 iPad 2 tablets. The explosion had killed three and injured at least 15 people. Depending on how long the...
As per reports, Du is all set to launch the High-speed 4G broadband services in UAE by year end. Du's only competitor Etisalat is also gearing up to upgrade its network to offer 4G services. The existing 3G network...
The US backlash against India?s $70 billion outsourcing industry gained further momentum when a district attorney in Texas ordered Infosys to clarify allegations of visa misuse by one of its employee. The district attorney has launched the investigation on...
The German business confidence probably fell for a third month in May, after a worsening debt crisis clouded the euro region?s growth outlook and the rising energy costs threatened to sap earnings. Based on a survey, the Ifo institute?s business...
Sonova, the Swiss hearing aid maker is expecting the Swiss franc to weigh on its earnings and sales growth this year and has cautioned its first half sales could be slow due to the lower sales of the company?s...
International Business Machines (IBM) has edged its old rival Microsoft Corp in market value for the first time in the past 15 years. This was marked by the latest twist in the fluctuating fortunes of two of the world?s...
The Pakistani rupee has fallen to a record low of 86.50 to the US dollar; as there is an increased demand for dollars for import payments. Also, flow of the much needed foreign aid to the country may be...
The cola major Pepsi and two-wheeler maker Hero Honda have emerged as the two sponsors with the highest consumer recall during the cricket World Cup. According to a brand effectiveness survey conducted by Mindshare, a leading media agency (a...
Middle East global entertainment firm and animation company, Rubicon, has signed a deal with US media conglomerate, Paramount and CBS to launch a $1 billion theme park and resort in Aqaba, Jordan. The theme park, with a license from...
As per reports,? Apple Inc. is close to securing deals with several major recording companies on a music service that will allow users to stream songs stored on remote computer servers, presumably to an array of portable Apple-made devices....
National Central Cooling Company (Tabreed) said yesterday that Abu Dhabi's Mubadala Development Company, and its wholly-owned subsidiary General Investments now hold a majority 26.1 per cent stake in the company. In a statement to the Dubai Financial Market (DFM), Tabreed...
Officials from China, Japan and South Korea have agreed to boost trade in Asia by speeding up discussions on a possible free-trade deal. This trilateral pact is coming ahead of time, which was expected to be sealed in only...
Arab entertainment group, Melody group has acquired a license from the Fujairah Media group to begin operations from the emirate?s Creative City media free zone. The license may have been acquired to continue operations from a zone, free of...
China National Petroleum Corp (CNPC), a state owned initiative is looking to double its oil and gas pipeline construction in the coming years. The parent of PetroChina is planning to lay 64,000 kilometers of oil and gas pipes from...
According to a survey of investment bankers, Singapore is likely to create the most jobs in financial services during the next 12 month period, compared to any other city, leaving London and New York behind. The survey showed Singapore is...
Starwood Hotels and Resorts Worldwide, who owns prestigious brands like Sheraton, Westin, LeMeridien, W Hotels and the Luxury Collection is planning to launch an additional 100 hotels by the year 2015, in India. The group is famous for signing...
State-run Kuwait Petroleum Corp (KPC) and China's Sinopec will start the construction of their $9 billion joint venture oil refinery and petrochemical plant in China in the first quarter of next year, Kuwait's news agency reported on Sunday. The refinery...
A gigantic volcanic eruption occurred in Iceland under Europe?s largest glacier early on Sunday. This unexpected eruption forced several international flights to divert south of the North Atlantic Island as a plume of smoke and ash rose to a...
Dubai will soon be the proud owner of yet another coveted world?s-first title - the city is going to be home to the world?s first Fashion Hotel. President of Fashion TV global network, Michel Adam, signed an agreement on Friday...
Hackers have targeted Sony Corporation's website again in less than a month after more than 100 million online user accounts were stolen, exposing more security issues for the company. Internet security firm F-Secure disclosed on Friday that a hacked page...
As Japan struggles with the world?s worst nuclear crisis in decades, the country is looking to promote renewable energy; and will announce a new plan to make solar panels compulsory on the roofs of all new buildings by 2030....
Forty, forty-five, and still rising! The mercury is soaring as UAE plunges into yet another blazing summer season. With the rising temperatures come a host of health complaints - sunburn, headaches and rashes among others. But summer doesn't have to...
Infosys Technologies chairman N R Narayana Murthy, laid foundation for a new campus in Shanghai and has confirmed plans to treble the company?s business operations in China. "China has demonstrated an extraordinary pace of growth. Such growth cannot be sustained...
Greece is trying to avoid debt restructuring and is pushing with budget cuts and privatizations to work its way out of the country?s debt crisis, Prime Minister George Papandreou said. The PM is expected to present a fiscal plan by...
The Wall Street is showing signs of a sell-off, but the US stocks might survive for another week relatively unscathed if investors keep betting on sectors less vulnerable to an economic downturn. There has been a pressure building up for...
The 3D TV set market is all ready to grow dramatically, this year by almost 500 percent. ?Over the next few years, a greater percentage of large-screen TV sets will ship with the 3D feature?, said research director Michelle Abraham,...
One of the world?s largest independent private jet charter brokers and consultants, Private Jet Charter, has reported that private aviation business in witnessing higher growth in UAE in general and Dubai in particular. Chief Executive of Private Jet Charter, Hugh...
The Supreme Fiscal Committee has asked all government departments to reduce expenditure by 20 to 25 per cent in a bid to help the emirate achieve a budget surplus of Dh3-Dh3.5 billion until 2013, Ahmad Humaid Al Tayer, Member...
A Dubai Holding unit is battling to reinstate an initial public offering of Tunisie Telecom, which it bought a US$2.25 billion (Dh8.26 billion) stake in the year 2006. The investment company, Emirates International Telecommunications (EIT), that holds 35 percent stake...
Dubai?s non-petroleum direct international trade has shown a sharp rise of 31 percent worth Dh 113 billion in the first quarter, compared to the Dh 86 billion in the same period last year. ?This indicates a range overseas growing for...
The Gulf region?s beverage industry is seeing a significant market expansion and increasing demand for its products, according to statistics released by the Gulf Organization for Industrial Consultations (GOIC). As per the GOIC?s figures, the volume of investments in the...
The New York attorney general (AG) has requested information and documents, in the recent weeks, from three major Wall Street banks. This is in regards to their mortgage securities operations during the credit boom, and indicating the existence of...
Strauss Kahn, the International Monetary Fund chief, has offered to resign following an alleged sexual assault of a hotel maid in New York. Kahn, 62, in his official statement says, that he has already informed the executive board of his...
Low-cost airline, Flydubai plans to recruit 600 pilots within the next four years with a view to keep pace with its growing fleet and its rapidly expanding route network, according to reports by this airline on Wednesday. The budget airlines,...
The Search mammoth Google found itself a contender in the Search world when Bing was launched by Microsoft. ?Backed by huge and aggressive investments, Bing has been taking small but steady steps on the way to success. The single...
Middle East Communications (MECOM) Exhibition and Conference 2011, the leading Communications Technology and Solutions event, was officially opened by H.E Sultan Bin Saeed Al Mansoori, the UAE Minister of Economy, on 16th May, 2011. It was held at the...
Infrastructure Leasing & Financial Services Limited (IL&FS) has opened its third international office and first in the region, at the Dubai International Financial Centre (DIFC) IL&FS will sponsor, develop and commercialize infrastructure projects and provide value added financial services, will...