Economy

DUBAI: Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and cut the interest rate, seeking to take...
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Taiwanese auto company to compete in the UAE market

Luxgen, Taiwan’s premium automotive brand, has arrived in the UAE with its range which includes SUV and MPV, offering top technological features.



Europe car sales rise for seventh straight month

PARIS: European car sales advanced a seventh consecutive month as new models to replace aging vehicles and an economic rebound in Britain boosted demand at Renault, Ford and Peugeot Citroen.



Facebook rolls out 'nearby friends' feature

SAN FRANCISCO: Facebook has begun rolling out a feature allowing users of its mobile app to use smartphone location to discover friends near them.





Ford launches luxury Lincoln brand in China

WASHINGTON: Ford Motor launched its luxury Lincoln car brand in China, just days ahead of Beijing’s auto show in the world’s largest car market.



Etihad toughens stance on Alitalia deal but talks continue

ROME: Etihad Airways has toughened its stance on conditions for investing in Italy’s struggling Alitalia in continuing negotiations between the airlines, sources close to the matter said.



Emirates reduces flights to 41 destinations for 80-day period

DUBAI: Emirates airline will continue to serve all of its worldwide destinations during the 80-day period of runway upgrading works at Dubai International starting May 1.



Eritrean envoy highlights Alwaleed’s contributions

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received at his office Mohammed Omar Mahmoud, ambassador of Eritrea to Saudi Arabia.



Fired Yahoo executive gets $58m for 15 months of work

SAN FRANCISCO: Yahoo’s recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

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