Business News

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South Korean investigators on Wednesday raided the Seoul office of McDonald’s Corp following a series of complaints of food poisoning. According to Yonhap News Agency, many children fell ill after eating burgers that were allegedly undercooked. It’s reported that officials confiscated documents from the office and three companies, including an ingredient supplier. In August, McDonald’s […]

Mashreq bank has seen its third quarter profits rise by 35 per cent. That’s on the back of a drop in provisions for bad debt and a gain in income. The bank’s profit for the three months to the end of September increased to AED 561 million from AED 415 million during the same per­iod […]

Germany’s Lufthansa and British budget airline easyJet are two of seven companies that have bid for Italy’s troubled Alitalia airline.  The final decision will be made by Q1 next year. Both Lufthansa and easyJet are reportedly interested in only “certain assets of a restructured Alitalia ” but gave no details. Rome, however, is in favour of […]

The UAE’s Ministry of Finance is yet to formally determine which goods and services will be subject to Value-Added Tax (VAT). Younis Al Khouri, undersecretary at the Ministry of Finance, said the executive regulation of VAT is still being worked on. The UAE is set to implement VAT from next January at a rate of 5 […]

Etihad Airways announced on Tuesday that it is testing a new scheme that offers lower fares to Economy Class passengers for packing light.  The trial fare, which includes a complimentary carry-on baggage allowance of 7kg, will be available on flights between Abu Dhabi, Bahrain and Kuwait. Passengers must book between October 18 to December 18, […]

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