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Union Sign Wage Increase Agreement with Village Main Reef

UAE News - Tue, 07/28/2015 - 09:24

On Monday, National Union of Mineworkers (NUM) in South Africa said that it has signed a wage agreement for two-years with Village Main Reef, the gold producer.

NUM said in a statement that the as per the deal there will be R1 000 increase of in wages of all the underground employees where as the surface employees will get an increment of R800.

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Categories: UAE News

Pick n Pay to Add 5 000 Jobs in South Africa in One Year

UAE News - Tue, 07/28/2015 - 09:22

On Monday, Pick n Pay said that the retailer plans to open new stores in South Africa and will employ about five thousand people in one year.

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Categories: UAE News

Vodacom CFO to Leave on Friday, Till Streichert will Replace Him

UAE News - Tue, 07/28/2015 - 09:21

In an announcement, Vodacom said that it is appointing new Chief Financial Officer as the company's current CFO Ivan Dittrich, resigned in order to pursue personal business interests. He will leave his office on Friday and Till Streichert, will take over the position. He was the finance executive of the company's South African operations according to the group.

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Categories: UAE News

MTN CEO Ready to Take the Telecom Company Forward

UAE News - Mon, 07/27/2015 - 10:09

MTN SA, the South Africa telecom company's new CEO Mteto Nyati said, his priorities now include increasing the revenue and improving the customer services as the multinational mobile telecommunications company recovers from a severe strike.

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Categories: UAE News

South African Rand Hit Fourteen Year Low Against the U.S Dollar

UAE News - Mon, 07/27/2015 - 10:06

On Friday, the rand dropped to its fourteen year low against the US dollar. It resulted from a wider sell off of the emerging market currencies due to tumbling commodity prices and concerns over the slowdown in China's economic activities.

The rand dropped greater than 1.5 percent to R12.68 to the U.S dollar. It is lowest since the 2001 December crash when it had touched R13.85/$.

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Categories: UAE News

Anglo American Plans to Trim Its Total Workforce by One Third by Next Year End

UAE News - Mon, 07/27/2015 - 10:04

In a cost cutting spree, Anglo American plans to cut down 54,000 jobs and sell fifteen of its mines. It will also trim six thousand office jobs by the next year's end. All this is an effort made to cope up with the weak commodity market globally.

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Popularity of Professional Gaming on the Rise So Is the Risk of Drug Use

UAE News - Sun, 07/26/2015 - 07:18

e-Sports is becoming extremely popular and competitive video game tournaments are on the rise. In the last ten years their popularity has grown vastly in commercial parlance and also prevalence.

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Categories: UAE News

First Ever ‘Malaria Vaccine’ Gets approval from European Drug Regulators

UAE News - Sun, 07/26/2015 - 07:16

Malaria, the life threatening disease mostly affecting people in African and Asian countries just might become less threatening.

The drug regulators in Europe have approved the very first malaria vaccine in the world. Reportedly, 'Mosquirix', as the vaccine is called has been developed by GlaxoSmithKline.

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Categories: UAE News

Mitsubishi Motors Corp. Plans to Stop Car Production in U.S Plant

UAE News - Fri, 07/24/2015 - 10:08

On Friday, sources with knowledge of the matter said that Mitsubishi Motors Corp. is planning to end car production in U.S. The company has only one vehicle production unit in the country which it is likely to sell to another car manufacturer.

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Comcast Added 180,000 New Internet Customers in the Second Quarter Surpassing its Cable Subscriber Number

UAE News - Fri, 07/24/2015 - 10:06

So what if there is a slowdown in Comcast's subscriber growth and in April it quit its plans of Time Warner Cable, the company is still doing well thanks to the internet.

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Qatar’s Minister of Culture, Arts and Heritage Appreciates Ties between Qatar and Italy during Opening Ceremony of Giffoni Film Festival

UAE News - Thu, 07/23/2015 - 10:43

Qatar's Minister of Culture, Arts and Heritage, Dr. Hamad bin Abdul Aziz al-Kuwari stressed on the role which culture plays in resolving severe problems that are connected to extremism.

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Categories: UAE News

UAE Stock Markets Reach Eight Month High Owing to Positive Quarterly Results from Major Businesses

UAE News - Thu, 07/23/2015 - 10:41

On Wednesday, the major stock markets in the Middle East rose as companies posted positive earnings for the second-quarter. Another reason for spike was the news which said the UAE will trim the domestic diesel price. The key index of Saudi Arabia upped 0.5 percent, supported by strong quarterly earnings from National Petrochemical Co.

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Categories: UAE News

UAE Cut Down Fuel Subsidies to Strengthen Finances and Trim Green House Gas Emissions

UAE News - Thu, 07/23/2015 - 10:40

United Arab Emirates accounts for one of the biggest greenhouse gas emitting countries in the world. To check the emissions and to control the fast increasing number of vehicles, the UAE is going to cut its petrol subsidies that are worth billions of dollars. This move will also help in strengthening the finances of the Gulf nations.

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Categories: UAE News

Chipotle Missed Second Quarter Sales Expectations Partly Due to Missing Pork at Many of its Restaurants

UAE News - Wed, 07/22/2015 - 11:45

Chipotle missed its second quarter sales expectations, which could be partly due to the missing carnitas from almost forty percent of its restaurants.

Suspension of one of the pork suppliers of the food chain has lead to shortage of pork supply in many of the 1,800 restaurants owned by the fast food chain.

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Categories: UAE News

Employers in Most States Add Jobs, Keeping the Overall Employment rate on the Rise in June

UAE News - Wed, 07/22/2015 - 11:43

Unemployment rates have been on a downward move in most of the states in the US. The steady job growth continued to shrink the unemployed workforce even in the last month in twenty one states. In seventeen of the states, the numbers remained unchanged, say analysts.

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$4.3 Billion Hawaiian Electric Sales Deal by NextEra Opposed by Hawaii Governor on Renewable Energy Goal Concerns

UAE News - Wed, 07/22/2015 - 11:42

On Tuesday, Hawaii's Governor David Ige said that he does not support selling the Hawaiian Electric to NextEra Energy, a Florida based company that owns a huge electrical utility which is one of the largest, along with a well known wind and solar energy company.

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Categories: UAE News

First Data Files for an I.P.O. with U.S Authorities

UAE News - Tue, 07/21/2015 - 08:37

First Data Corporation, the credit card and payments processor is planning to go public. On Monday, it filed for an initial public offering with the U. S regulators.

It is a company which saw the largest buy out in 2008, just before the financial crisis hit. Now, it's back again ready to enter the stock markets.

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Categories: UAE News

SunEdison will buy Vivint Solar Inc and Acquires UK’s Mark Group

UAE News - Tue, 07/21/2015 - 08:35

SunEdison Inc, the largest global renewable energy company said that it will buy Vivint Solar Inc, for about $2.2 billion. Vivint is a solar panel installer in the US and is the second largest in the nation. This acquisition will help in the expansion plans of SunEdison Inc in the residential solar market which is picking up rapidly.

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Facebook Still Won’t Give up on Its Online Store Efforts Trying to Attract more Ads

UAE News - Mon, 07/20/2015 - 10:23

Is Facebook shifting from socializing to e-shopping?

Facebook has been testing a system that allows e-commerce on its pages. It is being called F-commerce and Facebook is trying it out with a few companies without naming any.

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Categories: UAE News

Capcom Revealed First New Character for Street Fighter V

UAE News - Mon, 07/20/2015 - 10:21

Fans of Street Fighter V will be extremely excited to know that Capcom released a peek into its new characters to join the game.

The completely new character named Necalli will join the cast of Street Fighter V. From what was revealed, the characted appeared to be a savage-looking athletic brawler.

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Categories: UAE News

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