Archives
UAB announces net profit of AED 328 million for H1 2014
July 21st, 2014
UAB, recently recognized as the fastest growing bank in the region, announces a net profit of AED 328 million for the first six months of the year, an increase of 26 per cent over H1 2013. Sheikh Faisal Bin ...
IMF’s Lagarde warns on ‘upbeat’ Europe markets
July 18th, 2014
Markets might be too optimistic on the euro zone’s prospects, according to the Christine Lagarde, the managing director of the International Monetary Fund (IMF), who has warned that large amounts of debt, unemployment and low inflation could hit growth ...
Apple should do more to tackle in-app purchases problem: EU
July 18th, 2014
Apple has provided no concrete and immediate solutions to tackle the problem of adults and children racking up credit card bills by making “in-app” purchases on tablets and mobile phones, the European Commission said on Friday. Following concerns raised ...
Gold Retreats From $1320 Line
July 18th, 2014
Gold started Friday trading just below resistance at $1320, and has dipped lower, losing much of the gains we saw a day earlier. In the European session, the spot price stands at $1309.60 per ounce. On the release front, ...
Australia, NZ dollars end week on soft note as risk aversion returns
July 18th, 2014
The Australian and New Zealand dollars nursed losses against the yen on Friday, having fallen sharply overnight as a flare-up in geopolitical tensions saw investors switch into the safe-haven Japanese currency. The Aussie bought 94.84 yen, after falling as ...
Wipro bags $1.2 billion outsourcing contract of Canadian firm ATCO
July 18th, 2014
Wipro has bagged a $1.2 billion 10-year deal to manage information technology outsourcing of Canadian energy and utilities firm ATCO, thereby giving a further fill-up to the Bangalore-based IT firm’s oil and gas vertical. Under the deal – announced ...
FASB Unveils Plan to Simplify Inventory, Extraordinary Items
July 18th, 2014
In its quest to simplify accounting standards, the Financial Accounting Standards Board has issued two new proposals — one to make it easier to measure inventory and another to eliminate requirements around extraordinary items. To make inventory measurement simpler, ...
Accountants To See IRS In Court Over Tax Preparer Program
July 18th, 2014
The American Institute of Certified Public Accountants (AICPA) has filed a federal lawsuit calling for the voluntary tax return preparer regulatory program planned by the United States Internal Revenue Service (IRS) to be declared unlawful. AICPA President and CEO ...
UK banks face break-up threat as watchdog plans competition probe
July 18th, 2014
Britain’s big banks could be broken up after the country’s new competition watchdog said it plans to launch an 18-month investigation into services for small business customers and personal current accounts. The Competition and Markets Authority (CMA) said on ...
Dell Sues ‘Demoted’ Asia Executive to Stop Him Joining HP
July 18th, 2014
Dell Inc., the second-largest computer-server maker, asked a Singapore court to bar its former Asia enterprise market vice president from joining Hewlett-Packard Co. (HPQ), the industry leader. Philip Anders Davis would be breaching agreements including not to solicit customers ...
