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...
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...
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...

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...
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...
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 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...

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,...
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...
Hewlett Packard Co slashed its 2011 earnings forecast as it went on a spending spree to revamp one of its troubled divisions. Meanwhile, long time competitor and foe Dell Inc has delivered a blowout profit, surprising many at the...
Saudi Arabia, the oil rich country, is expanding the state control of the economy by sharply boosting the public spending. This increased expenditure is reportedly stifling the private sector and obstructing diversification plans, according to a key bank in...

MSCI World plans to upgrade the market status of UAE and Qatar but neglects Saudi Arabia. The index compiler is a stock market index of 1500 global stocks. MSCI is considered as a benchmark in stock market. MSCI index includes...