G20 seeks to Banish ‘Economic Warfare’ Fears

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G20 finance ministers sought to convince markets at a meeting in Moscow they would not slide into “economic warfare” with competitive devaluations of currencies to boost activity. British Finance Minister George Osborne warned of the…

Sheikha Lubna Meets Ethiopian President

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(Addis Ababa) - UAE Foreign Trade Minister, H.H. Sheikha Lubna met the President of Ethiopia, Girma Wolde-Giorgis at the Ethiopian capital, Addis Ababa during the inauguration ceremony of Julphar Plant. Sheikha Lubna led UAE delegation to…

EU Leaders Agree on 960 bln Euro Budget

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European Union leaders agreed the framework of a new long-term budget after 15 hours of through-the-night negotiation, laying the ground for 960 billion euros of spending on agriculture, aid and scientific research in the years ahead. The…

US-European Free Trade Zone Within Reach: Joe Biden

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(Munich) - Addressing world leaders at Munich Security Summit, US Vice-President Joseph Biden said that a free trade zone between the US and Europe is gaining traction and could become a reality. A free-trade deal is “within our reach”…

World Tourist Numbers Exceed 1b

(Madrid) - International tourist arrivals has exceeded one billion number for the first time last year, with the Asia-Pacific region posting the biggest increase in foreign visitors, and numbers will rise further in 2013, a UN body said. The…

Apple Loses World's Valuable Company Crown

Apple shares extended their losses, losing its position as the world's biggest company based on market value. Apple ended down 2.36 percent at $439.88, giving it a market capitalization of $413 billion, while ExxonMobil rose 0.36 percent…

Dubai Shares Hit 3-year High

Driven by rising investor optimism in Dubai’s sustained real estate recovery, Emaar shares rallied to a record level since 2009 to propel the benchmark stock index to the highest level in three years. Shares of Emaar, the developer of…

Facebook Offers Free Phone Calls

A new Skype-like feature is being introduced to the networks messenger mobile application. Called the ‘free call’ feature, Facebook is currently testing it on American users to phone each other over a wi-fi connection, avoiding carrier…

New Law to Protect UAE Markets: Sheikh Mohammed

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(Abu Dhabi) - UAE Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has said that the UAE will continue to develop legislation and laws to protect the community and markets from various…

Etihad Airways Sets New Record for Busiest Day

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(Abu Dhabi) - Etihad Airways has started New Year by setting a record for the highest number of passengers carried across its worldwide network in a single day. The record was set on Saturday 5 January 2013 when 33,802 passengers flew with…

Dubai Unveils Dh34b Budget

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(Dubai) - Dubai’s government has announced its budget for 2013 with more than Dh34.12 billion expenditures and nearly eight per cent increase in public revenue. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime…

World’s Longest Bullet Train Service Begins in China

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(Beijing) - China has started service on the world’s longest high-speed rail route, the latest milestone in the country’s rapid and super fast rail network. The opening of the new 2,298-kilometre (1,425-mile) line between Beijing and…
UN adds 5% to Budget for 2012-2013

UN adds 5% to Budget for 2012-2013

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(United Nations) - UN General Assembly has approved an increase of about 5 percent in budget to cover the United Nations’ regular operations in 2012-2013, raising the two-year budget to about $5.4 billion. More than half the increase is due…
World Shares Rise on US Budget Deal Hopes

World Shares Rise on US Budget Deal Hopes

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(New York) - Global stocks have advanced to their highest levels since September on signs of compromise in U.S. talks to stop automatic tax hikes and spending cuts that could hurt the economy next year. With confidence rising that lawmakers…