Ajman / Emirates Business In support of Ajman Free Zone’s (AFZ) vision to provide an efficient business ecosystem, AFZ signed a Memorandum of Understanding (MoU) with the Dubai International Financial Centre (DIFC) Courts to promote the public wills service provided by the UAE’s first English-language common law court. The agreement was signed by Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of ...

DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said that data is a key pillar in the strategy to realise the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform ...

DUBAI / WAM The Charity Sector at the Islamic Affairs and Charitable Activities Department in Dubai (IACAD) has announced that the charitable donations by the Department worth AED72,641,580.05 in 2019. The donations reached over 177,000 beneficiaries over the past year included education, health, housing, food and others. The annual report issued by the Charity Sector at IACAD indicated that the ...

DUBAI / WAM The Emirates Authority for Standardisation and Metrology (Esma) carried out a knowledge exchange exercise about the UAE’s control systems for halal products, as part of its 2020 range of programmes. The Esma training course was carried out for various members of the African Standardisation Organisation (Arso), which represents the largest regional grouping for standardisation bodies in the ...

Fujairah / WAM Inventories of oil products at the bunker trading hub of Fujairah in the UAE climbed to a record this week after gains in light, middle and heavy distillates, according to data provided exclusively to S&P Global Platts. Inventories rose 13 per cent week on week to 25.98 million barrels as of Monday, beating the previous all-time high ...

Bloomberg Hong Kong Financial Secretary Paul Chan announced a HK$120 billion ($15.4 billion) relief package with tax cuts and a cash handout, in an effort to shore up economic confidence in a city battered by political unrest and the coronavirus. The main feature of Chan’s annual budget announced on Wednesday is a payment of HK$10,000 to each permanent resident of ...

Bloomberg An episode of John Oliver’s show that criticised Prime Minister Narendra Modi has been blocked in India by Hotstar, the local platform run by Walt Disney Co. The comedian was previewing President Donald Trump’s visit to India on his Emmy-winning ‘Last Week Tonight with John Oliver,’ which typically airs at 6 am each Tuesday in the Asian nation. When ...

Bloomberg Toyota Motor Corp invested $400 million in Pony.ai to strengthen its ties with the Chinese provider of driverless-car systems. The investment extends the companies’ partnership formed last year and pushes Pony.ai’s valuation to more than $3 billion, the startup said in a statement. The pact enables a “deeper integration” of Pony.ai’s technology with Toyota’s vehicles. “It will enable us ...

Bloomberg India’s federal government will encourage inefficient state power utilities to seek privatisation and other institutional reforms to turn around money-losing operations and ensure reliable supplies to consumers, according to the top bureaucrat in the federal power ministry. States with electricity utilities that lose more than 15% of revenue due to archaic networks, power theft and sloppy billing and collections ...

Bloomberg Iberdrola SA expects sharp growth in profit this year, driven by rising power output after earlier investments in renewable energy and transmission assets ramped up. Earnings before interest, taxes, depreciation and amortisation rose 8.1% to a record $11 billion in 2019 from a year earlier, roughly meeting the average estimate of 10.01 billion euros by 19 analysts surveyed by ...