business

  • China Huayang Group Selects SkyPower as its Global Partner to Develop Solar Energy Projects Around the World

    SkyPower, the world's largest global developer of utility-scale solar energy projects, and China Huayang Economic and Trade Group Co., a Chinese state-owned company under the China Council for the Promotion of International Trade, announced today that it has entered into a world-class partnership together.

  • ConsenSys to help transform commodities in trade finance

    Fifteen of the world’s largest institutions, including banks, trading companies, an inspection company and an energy major have formed a new venture known as komgo, that will seek to digitalise the trade and commodities finance sector through a blockchain based open platform.

  • Construction begins at Viceroy Ombria in Algarve, Portugal

    Viceroy Hotel Group looks towards its long-anticipated European expansion as it breaks ground on Viceroy Ombria, set amidst Ombria Resort in Algarve, Portugal. With the foundation stone set on August 25, 2017, the luxury hotel operator is on schedule to make their entry into Europe with the launch of the five-star destination in southern Portugal in 2019.

  • DAE signs landmark unsecured revolving credit facility Initial commitment of US$480 million expandable to US$800 million

    Dubai Aerospace Enterprise (DAE) Ltd. announced today that it has signed a landmark unsecured four-year revolving credit facility with an initial commitment of US$480 million and an accordion feature that allows the facility to be increased to up to US$800 million at any time after the initial closing. The facility includes both conventional and Islamic tranches and will support the future financing needs of the business.

  • Danat Jebel Dhanna Resort appoints new Director of Sales

    Danat Jebel Dhanna Resort is proud to announce the appointment of Dariya Bushmakina as Director of Sales.

  • Dubai Chamber President and CEO appointed Chairman of World Chambers Federation

    Dubai Chamber of Commerce and industry has announced that its President and CEO H.E. Hamad Buamim has been appointed to the coveted post of Chairman of the International Chamber of Commerce’s World Chambers Federation (WCF), the International Chamber of Commerce’s forum uniting a global network of 12,000 chambers and their respective business communities.

  • Dubai’s quest to become the capital of the Islamic economy

    With 1.8 billion Muslims in the world and an Islamic economy - which complies with Islamic laws – growing, John Defterios reports that Dubai is positioning itself as the global capital of the Islamic economy.

  • Dusit International Names Prateek Kumar as Regional Vice President – EMEA Region

    Thailand-based, global hospitality company Dusit International has appointed Mr. Prateek Kumar as Regional Vice President – EMEA region, responsible for strengthening Dusit’s operations and supporting development efforts in Europe, the Middle East and Africa.

  • Dusit Thani Bangkok Confirms Last Day Of Operations And Offers A Series Of Special Promotions

    Dusit Thani Bangkok, the flagship hotel of Thailand-based, global hospitality company Dusit International, will officially hold its last day of operations in its current form on 16 April 2018, bringing to a close a successful first chapter some 48 years in the making.

  • Energy, information technology, and materials sectors are exhibiting the highest year-over-year earnings growth - Century Financial Weekly Market Report

    Currencies

    Head & shoulder break still intact

    At the beginning of the week, the market was hoping the bill could pass the Congress before Thanks giving, but now there are doubt there's actually a bill to discuss. The Senate tax-reform proposal has strong divergences with the one debated in the House, as senators are more focused on helping the middle class, something that the previous version over looked. Due to these concerns voting got delayed to this coming week. As per the US treasury Secretary he is confident of reconciling the differences and positive that will get the tax bill to Trump in December.

  • Fears of inflation boost gold - Century Financial Brokers Weekly Market Report

    Currencies

    Dollar buoyed by hawkish Fed

    Euro ended the week on a lower note as data from Eurozone i.e. consumer confidence, Manufacturing PMI, Services PMI and Core came in below expectations and as anticipation over the future rate hikes from the Fed began to gain in credence. Eurozones annual inflation rate came in at 1.3% in January 2018, down from 1.4% in December 2017, which prompted Eur/usd to shed further ground. In the coming week, ECB President Draghi is supposed to testify before European Parliament Economic and Monetary Affairs Committee on Monday and also the new Fed Chief Powell is set to testify which would also give indication on the future plans of ECB. Moreover, the dollar remains supported as markets continue to price in the odds of the Federal Reserve raising interest rates four times over the course of 2018. With US GDP around the corner and increased expectation of rate hike, euro will take take a breather.

  • flynas Partners With conxxe for Ground Transfers

    Customers of leading low-cost airline, flynas, can now book their airport transfers through a wide range of touchpoints and integrations on flynas' website, mobile and email communications. Courtesy of the HolidayTaxis Group ground transportation platform - conxxe.

  • Galvin Restaurants Begins a New Chapter with Galvin Dubai, at The Square, City Walk

    Galvin Dubai, the next highly anticipated offering from the Michelin-starred chef brothers Chris and Jeff Galvin is delighted to announce its opening in Q3, located in the vibrant The Square, City Walk. The opening of this elegantly social restaurant and lounge represents the completion of the brothers’ first venture outside the UK after the successful opening of Demoiselle by Galvin earlier this year, also at City Walk.   

  • Gartner Says Connected Car Production to Grow Rapidly Over Next Five Years

    Connected car production is growing rapidly in both mature and emerging automobile markets, according to the latest forecast by Gartner, Inc. The production of new automobiles equipped with data connectivity, either through a built-in communications module or by a tether to a mobile device, is forecast to reach 12.4 million in 2016 and increase to 61 million in 2020 (see Table 1).

  • Gartner Says Worldwide PC Shipments Declined 4.3 Percent in Second Quarter of 2017

    Worldwide PC shipments totaled 61.1 million units in the second quarter of 2017, a 4.3 percent decline from the second quarter of 2016, according to preliminary results by Gartner, Inc. The PC industry is in the midst of a 5 year slump, and this is the 11th straight quarter of declining shipments. Shipments in the second quarter of this year were the lowest quarter volume since 2007.

  • GCC macro momentum losing steam, further rating downgrades expected

    Research by Fisch Asset Management, one of the world’s leading credit analysis and convertible bond specialists, has shown a clear slow-down across GCC money markets, with softening prices resulting from continued macro-economic uncertainty. Saudi Arabia, Oman and Bahrain have all suffered ratings downgrades since 2015. Meanwhile, Qatar and Bahrain have shown greater resilience.

  • Giordano celebrates 25 years in the UAE

    Giordano celebrates its 25th anniversary in the UAE with a series of events and offers in all their UAE stores from April 25 till May 15.

  • Global equities rally to reduce safe-haven demand - Century Financial Brokers Weekly Market Report

    Currencies

    1.2100 a critical resistance level

    The euro concluded the 1st week of 2018 effectively where it started, but what should make the bulls happy is the fact that it managed to end the week above 1.20, which should give them a lot of hope for the coming week. We had a range of data from the US with the manufacturing PMI data and the ADP employment report coming in stronger than expected. The NFP came in weaker but there was a revision higher in the data from previous month which helped the dollar to be steady and pushed the euro lower to end the week just above 1.20.

  • GN Group inaugurates MENA Head Office in Dubai

    GN Group, a global leader in intelligent audio and hearables solutions that let one hear more, do more and be more, opens a base in Dubai with its first office in the Middle East, Africa and Turkey region. With world-leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by their premium brands ReSound and Jabra.  To be the leading hub for aural technologies in the region, the office launch marks the inauguration of Jabra and ReSound’s head offices in the Middle East, Africa and Turkey region.

  • Gold ended the week lower weighed down by a stronger dollar - Century Financial Weekly Market Report

    Currencies

    Potential bottoming out of the pair

     It could be a potential bottom for the pair after 6 straight days lower that saw the AUD/USD pair move from the 200 days MA at 0.7812 to the low of 0.7532 hit on 27th April 2018. The AUD/USD traded to the lowest level since December 12, 2017. That low on the daily chart, bottomed at the 0.7530 which was a familiar swing level from November and December 2017. At that time, the price fell and stalled at 0.7535 and 0.7531. It broke and tried to stay below in December but that break failed after three days and it took more than 5 months to reach that level once again. The Australian dollar can be a good buy from these levels.