Dubai / WAM The UAE Banks Federation (UBF), a professional representative body comprising 48 member banks operating in the UAE, held its annual meeting for the 19 committees Chairpersons to review key initiatives of 2017 as well as priorities and action plan for 2018. The meeting commended the initiatives launched by the committees during 2017, among which are; the Middle ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), Registration Authority has established an Office of Data Protection to carry out the administration of ADGM’s data protection regime. The Office of Data Protection aims to foster a secure and trusted environment for both companies and individuals, in line with ADGM’s strategy to be a leading international financial centre that provides ...

Dubai / WAM Drydocks World, the leading marine, onshore and offshore service provider to the oil, gas and renewable energy sectors, signed a contract agreement with SBM Offshore to carry out the construction of the Turret Mooring System (TMS), for Statoil’s Johan Castberg Floating Production Storage and Offloading (FPSO), vessel. The Johan Castberg FPSO will be permanently moored by internal ...

Dubai / Emirates Business HotelsCombined.com, the world’s leading hotel price comparison website reveals on Wednesday that Dubai continues to be the top favorite destination among GCC travelers during the festive season, followed by Abu Dhabi and Al Medina, Saudi Arabia. On the international level, London maintains its position as the most popular destination followed by Istanbul and Paris, according to ...

Bloomberg Senate Republicans passed the most extensive rewrite of the US tax code in more than 30 years, a bill that delivers a deep, permanent tax cut for corporations and shorter-term relief for individuals. The chamber’s 51-48 party line vote on Wednesday in Washington brought President Donald Trump to the brink of his first major legislative victory. The bill—which has ...

Bloomberg A 300-year-old argument between the UK and Spain over a small piece of land is threatening to derail Theresa May’s plans to help businesses navigate Brexit. UK officials fear Spain will threaten to veto a Brexit transition phase if the British PM refuses to negotiate a separate deal with the government in Madrid that covers the disputed territory of ...

Bloomberg PM Theresa May is sticking to her guns and pushing for a made-to-order trade deal with the EU—despite the bloc’s insistence such a scenario is out of the question. May presided over a discussion with her Cabinet to flesh out her vision of an end state, aiming for a “significantly more ambitious deal” than that between the EU and ...

Bloomberg UK housing experts predict the nation is in for a year of stagnating prices in 2018. Overall growth will come to a halt as the number of transactions falls slightly, the Royal Institution of Chartered Surveyors said in a report, with a continued dearth of supply preventing outright declines. Some regions are set to see gains, offsetting slumps in ...

Bloomberg Toys ‘R’ Us Inc.’s British unit, which is at risk of collapse, faces questions from lawmakers about a reported surge in payments to its former managing director. The loss-making British arm of the US toy retailer boosted Roger McLaughlan’s pay to 1.3 million pounds ($1.7 million) in the year ended on January 30, 2016, from 1 million pounds and ...

Bloomberg US stocks fluctuated near record highs while Treasury yields climbed to a nine-month peak as the Republican tax overhaul moved closer to passage. The S&P 500 Index gave up early gains on Wednesday, pulled down in part by consumer stocks. Core European bond yields followed Treasury rates higher, with European Central Bank asset purchases for the year ending on ...