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Bahrain Batelco says Siva is bankrupt, seeks $212 million owed
Chinnakannan Sivasankaran, the chairman of Chennai-based Siva, filed for bankruptcy in the Seychelles after a British court in June ordered Siva and Sivasankaran to pay the money to Batelco’s wholly owned subsidiary BMIC.
Microsoft to defy order to hand over e-mails
Chief Judge Loretta Preska of the US District Court in Manhattan had on July 31 upheld a magistrate judge’s ruling on the e-mails, which have been held in a data centre in Ireland.
Mashreq launches school fees offer
Mashreq has launched a special offer for their cardholders’ convenience by allowing them to pay for school fees using their credit card, and to make repayments in easy installments of up to 12 months with absolutely zero interest.
Audi recalls 70,000 cars over braking system problem
The problem had been found within the brakes as the engine oil could enter the brake servo through the vacuum lines and make it rupture, causing failure, Audi explained.
Top 10 investment banks’ first-half revenue falls 5%
Total revenue was $82.3 billion in the first six months of the year, compared with $86.8 billion in the same period a year earlier, consultancy Coalition said.
Samsung unveils smartwatch that can make calls
Samsung’s new smartwatch, called the Gear S, differs from its predecessors with a bigger 2-inch (5 cm) curved display and offers features like WiFi connectivity, pedestrian navigation and a built-in GPS.
Damac offers 2nd release of Akoya Oxygen units
Akoya Oxygen is a 55 million square foot community in Dubailand offering the most lush, green environment ever developed in the region.
Adnic ratings reaffirmed by int’l agencies
These agencies have once again given Adnic an A (Excellent) rating with a stable outlook and an A- rating with a positive outlook, respectively.
Nakheel awards Dh75 million contract
Nakheel is to build a new residential complex with 130 apartments for lease on Dubai’s Palm Jumeirah, the firm announced on Wednesday.
Elite Swiss bank breaks tradition, releases results
The elite of Swiss private banks on Tuesday begin lifting the veil on their books after a radical shift in their business model, amid tougher international regulations and crackdowns on tax dodgers.
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