Monday 14 July 2014

UAE set to OK new bankruptcy law by year-end

The United Arab Emirates is close to finalising an updated federal bankruptcy law and a draft of the legislation should be ready by the end of this year, Justice Minister Hadef bin Juan Al-Dhaheri said on Monday.      &nbs


Australian budget airline grounds fleet

Thousands of travellers from Hawaii to Thailand were stranded on Friday after budget airline Air Australia ran out of money and went into voluntary administration, immediately grounding its five-jet fleet. The Brisbane-based international


Kodak sues Fujifilm over patents

Eastman Kodak Company is suing Fujifilm Corporation, claiming that some of its Japanese rival's cameras infringe its patented digital-imaging technology. The lawsuit, filed on Friday in US District Court in Rochester, New York, claims Fuj


Many Bahrain businesses 'face bankruptcy'

Dozens of Bahraini companies and traders could go bankrupt in the aftermath of the recent crisis which gripped the kingdom, a report said. Bahrain Chamber of Commerce and Industry (BCCI) has sounded the alarm bell, calling for an immediate


Nortel agrees to sell enterprise unit to Avaya

Bankrupt Nortel Networks, a top global technology company, has said that it has agreed to sell its enterprise unit, which builds networks for companies, to Avaya, a leader in business communications, for $475 million. The company also said


Dubai property fall hits Iranians

The economy of the United Arab Emirates, the world's fifth-largest oil exporter, has surged 50 per cent in real terms since 2004, but the tide has turned as slumping oil prices and a global financial meltdown put an end to Dubai's property boom.

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