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Cavotec secures Jebel Ali Port orders

Dubai: Global engineering group Cavotec said it has won three significant orders for motorised cable reel technologies for installation on ship-to-shore (STS) cranes and rail-mounted gantry (RMG) cranes at DP World’s new container terminal at Jebel Ali Port. ZPMC, the port equipment manufacturer, and TGPC, a regional design, construction and c


Google sells Motorola Mobility Home business for $2.35b

San Francisco: Google on Wednesday announced it is selling the Motorola Mobility Home unit to global communications technology company ARRIS in a cash and stock deal valued at $2.35 billion.

“This transformational combination of two complementary businesses will create a leading end-to-end provider of today’s video, data, and voice pro


Peugeot and GM drop large car plan

Paris: General Motors and PSA Peugeot Citroen scrapped plans for a joint mid-size car programme, narrowing the scope for vehicle sharing within their nascent alliance while adding engine cooperation.

The automakers said in a statement on Thursday that they had signed firm agreements on three out of four previously announced vehicles to combine


UAE bourses end on a positive note

The Dubai Financial Market (DFM) index rose 0.62 per cent to close at 1601.39 on Thursday.

Among the gainers, DP World rose 3.90 per cent to close at $12, followed by CBD by 3.45 per cent to Dh3 and Takaful-EM by 3.03 per cent to Dh0.647.

Emirates NBD shares rose 0.71 per cent to Dh2.85 as the bank has signed a definitive agreement whereby BNP


Finnish government lowers 2013 growth forecast

Helsinki: Finland’s finance ministry lowered its economic growth forecast for next year to 0.5 per cent on Thursday from a September estimate of 1.0 per cent, citing weak exports and tepid domestic consumption. “The weakness of the external environment will have a significant impact on the Finnish economy over the next few years,” the Ministry of F


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Abatera Tours is an expert destination management company that covers all aspects of inbound tourism business including FIT Travel, Leisure groups and Meetings, Incentives, Conferences & Events (MICE)...

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