UAE-Saudi Arabia non-oil trade at Dh417.6 billion in 5 years

Abu Dhabi: Non-oil trade exchange between the UAE and Saudi Arabia has reached Dh417.6 billion over the past five years, Sultan Bin Saeed Al Mansouri, Minister of Economy, has stated. Non-oil exchange between the two countries reached Dh107.4 billion in 2018, a surge of 35 per cent over 2017, reflecting the strength of the strategic […]

Marks & Spencer finance director to step down

London: Marks & Spencer says its chief financial officer is to step down, just weeks after the retailer learned it would drop out of the FTSE 100 of leading British shares for the first time. In a statement Saturday, M&S said Humphrey Singer would remain in the job to ensure an orderly transition and the process […]

Inchcape Shipping Services: “Transparency is a critical success factor for the shipping industry”

Please tell us about Inchcape’s operations in the UAE? Globally, Inchcape is focused on port agency and the associated marine services, and the UAE is one of our key markets. Apart from the traditional port agency for all vessel segments, Inchcape UAE owns 11 crew boats. Here we have a large government services department and […]

Japan’s Mitsubishi Corp unit loses $320 million in unauthorised trades

TOKYO. Major Japanese trading house Mitsubishi Corp said on Friday it was carrying out an investigation after its Singapore-based subsidiary lost $320 million because of unauthorised trades by an employee. In a statement, the firm said the losses involved a local employee of Petro-Diamond Singapore who was hired “to handle its crude oil trade with […]

Emirates delays premium economy

Dubai: Emirates President Tim Clark doubts the world’s biggest long-haul airline will receive Boeing Co.’s 777x jetliner on time, causing a delay in the launch of the premium economy class. “I doubt we will receive it by June 2020,” Clark said at a Dubai media briefing on Sunday. Premium economy will now be rolled out […]

Dubai’s Department of Economic Development issues 2,650 new licences in August 2019

Dubai: Dubai’s Department of Economic Development, DED, has issued 2,650 new licences for various professional, commercial, industrial and tourism activities in August 2019. This is a sign of continuing investor confidence in Dubai and new opportunities arising across diverse economic sectors, a DED press release said on Sunday. According to the Business Registration and Licensing, […]