Bloomberg The US Supreme Court freed states and local governments to start collecting billions of dollars in new sales taxes from online retailers, overturning a ruling that had made much of the internet a tax-free zone and put traditional retailers at a disadvantage. News of the ruling caused shares of Internet retailers including Amazon.com Inc. and Wayfair Inc. to fall. ...

Bloomberg Mubadala Petroleum on Wednesday announced that it has completed the acquisition from Italy’s Eni of a 10 percent participating interest in the offshore Shorouk Concession in Egypt, which contains the supergiant Zohr gas field. Following the completion, Eni, through its subsidiary IEOC, holds a 50 percent interest in the concession. The other partners in the concession are BP with ...

DUBAI / WAM The Port of Prince Rupert and DP World have agreed on terms of a project development plan that outlines the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal. The Phase 2B expansion will increase annual throughput capacity at Can-ada’s second largest container terminal to 1.8 million Twenty-foot Equivalent Units (TEUs), when complete ...

DUBAI / WAM Emirates Transport (ET) announced net profit of AED244.2 million for the year 2017, an increase of 34 percent on 2016, with revenues also boosted to AED2.558 billion, recording an increase of 6.8 percent compared to the previous year. In his introductory comments of the report, Hussain bin Ibrahim Al Hammadi, Minister of Education and Chairman of ET’s ...

DUBAI / WAM Emcredit, a subsidiary of the Department of Economic Development (DED) in Dubai, and ebooc, has signed a memorandum of understanding (MoU) to launch a next-generation digital payment Point of Sale (POS) platform for Dubai. The MoU was signed by Ali Ibrahim, Deputy Director General of DED and Managing Director of emcredit Limited, and Muna Al Qassab, CEO ...

Abu Dhabi / WAM Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said that the oil and gas industry stands on the threshold of a historic step change in the demand for its products, driven by growth in every major market. Speaking at the opening keynote session, at a seminar titled, “Sustainable Global Energy Future” ...

DUBAI / WAM Emirates will be operating a one-off A380 service to Muscat International Airport from July 1. The flight is part of the airline’s celebration of its 25th year of service to Oman this year, and also re-affirms the newly opened airport infrastructure to handle A380 operations. The new passenger terminal at Oman International Airport recently opened its doors ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and the Emirates Red Crescent (ERC) signed a Memorandum of Understanding (MoU) to manage the AED67million ($18.3 million) UAE government grant aimed to support the healthcare sector in Hadhramaut Governorate in Yemen. The grant aims to support three healthcare projects in Yemen’s ...

Abu Dhabi / Emirates Business Adnoc Distribution announced the launch of its first Vehicle Inspection Centre at an Adnoc Autoserv complex. The new facility, situated at Adnoc Distribution’s Sea Palace Autoserv location in Abu Dhabi, will be managed by Al Masaood’s Tyre, Batteries and Accessories Division and will offer customers comprehensive maintenance, vehicle testing and inspection services. The 1,350 square-meter ...

DUBAI / Emirates Business Dubai Cruise Tourism, along with its partners DP World and Emirates Airline, hosted a strategic familiarisation (FAM) trip for 100 top media and travel agents from Portugal and Spain. The trip forms part of the ongoing efforts of the recently formed Dubai Cruise Committee to raise the profile of Dubai as a global hub for cruising ...