A U.A.E. local daily today hailed the directives from Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to enhance and streamline hotel investment and development in Dubai.
In its editorial on Wednesday, 'Gulf News' wrote that Sheikh Mohammed's directives will be ideal in helping the country's tourism industry build the infrastructure…Read more
The International Monetary Fund said Tuesday that the global economic recovery is strengthening as countries move away from austerity budgets and their banking systems are fortified.
But the Fund remained cautious, saying the rebound in advanced economies is uneven and that they still face the threat of deflation.
Meanwhile, emerging economies are wrestling with tighter monetary conditions and slower domestic…Read more
Channel Tunnel operator Eurotunnel achieved one billion euros in turnover in 2013 for the first time, the company said on Wednesday.
That was an increase of 10.0 percent from the 2012 figure to 1.09 billion euros ($1.48 billion).
The main reason for the growth in traffic was performance by rail freight operator Europorte, which turned in a year-on-year increase of…Read more
Japanese Prime Minister Shinzo Abe, currently embroiled in a diplomatic spat with China, takes centre stage at Davos Wednesday as 2,500 political and business leaders kick off their annual brainstorming blitz.
With landmark Syrian peace talks opening just down the road and both Iranian President Hassan Rouhani and Israeli Prime Minister Benjamin Netanyahu due to drop into the Swiss Alpine…Read more
Top business leaders are increasingly confident about the state of the world economy though they are only slightly more bullish on the prospects for their own companies, according to a major survey released at the Davos forum Tuesday.
According to the survey of 1,344 chief executives conducted by financial services firm PricewaterhouseCoopers, those forecasting a recovery in the world economy…Read more
The European Court of Justice on Wednesday rejected a British suit that the EU securities authority does not have the right to ban short-selling, a practice widely blamed for stoking financial market volatility.
The ruling followed a May 2012 action brought by Britain claiming the European Securities and Markets Authority (ESMA) had been given excessive powers to regulate or ban…Read more
Auto sales in Malaysia rose 4.5 percent to a record high in 2013, but are expected to slow this year as a rising cost of living curbs consumer spending, AP cited an industry group as saying Wednesday.Sales totaled almost 656,000 vehicles in 2013, buoyed by a robust economy, launches of new car models and a slight reduction in prices, said…Read more
South Korean banks' earnings are likely to increase about 40 percent this year from a year earlier on the back of economic recovery, the Korea Institute of Finance (KIF) said Wednesday.
Korean banks are expected to log a combined net profit of 7.4 trillion won (US$6.93 billion) this year, compared with an estimate of 5.3 trillion won the previous year,…Read more
A state-run think tank called on the government Wednesday to step up efforts to stimulate job creation for younger people and boost their entrepreneurship through early education and training.
The report by the Korea Development Institute (KDI) addressed worsening labor market conditions for the younger generation. Government data showed that the employment rate among people aged 15-29 hit a record…Read more
South Korean companies made the global top 10 list in only nine of the 26 major industrial sectors, reflecting the focused nature of the country's businesses, local data showed Wednesday.
According to the data based on sales in the July-September period of 2013, South Korean companies are doing well in information technology (IT), semiconductors, shipbuilding, steel and autos but trailing…Read more