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HuaweiDebt-crippled Kingfisher Airlines has cancelled 41 scheduled flights on Saturday, the firm said, after some staff did not report for work in response to the company failing to pay their salaries.
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Permira Advisers, the London-based buyout firm, agreed to sell Italian luxury brand Valentino Fashion Group to a group led by Qatari investors.
Saeed Mohammed Al Tayer, managing director and chief executive officer of Dubai Electricity and Water Authority, or Dewa, has applauded the achievements of the Information Technology Division (ITD) for its work on e-services and the successful implementation of the SAP enterprise resource planning at Dewa. The MD & CEO thanked Marwan bin Haider, CIO and VP — ITD and other members of ITD at Dewa headquarters for their dedication and hard work on Dewa’s SAP e-transformation project.
UPS on Thursday announced enhancements to several technology tools for UAE customers that streamline the process of creating shipments online and enhance their ability to track multiple shipments at once.
Gold prices rose on Friday in line with equities and other commodities as Chinese growth data proved no worse than feared, but remained set for a second week of losses as expectations for another round of US economic stimulus measures faded.
HONG KONG — Asian shares made modest gains Friday after China said its economy slowed in line with expectations, quashing fears data would show a “doomsday” scenario of the country heading for a hard landing.
LONDON - British firms built less in May than a year earlier even with an extra working day, official data showed on Friday, further denting hopes that the struggling economy emerged from recession in the second quarter.
LONDON - Strength in heavyweight commodity stocks lifted Britain’s top share index on Friday after growth rates in China slowed, fuelling expectations of more moves to stimulate the world’s second largest economy.
MADRID — Spain’s battered banks, struggling to raise money as they await a vast eurozone rescue, pushed borrowing from the European Central Bank (ECB) to a record high in June, data showed Friday.
Global stock markets were higher Friday after China said its economy grew in the second quarter at its slowest pace since 2009, numbers in line with analyst expectations.