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Dubai / WAM Dubai-based master developer Nakheel is gearing up to unveil a diverse range of projects, with a collective value of collectively more than AED3.2 billion, at Cityscape Global 2017 next week, with the launch of six new residential, retail and hospitality developments at four of its communities in Dubai, including its world-famous flagship master development, Palm Jumeirah. The ...

Dubai / WAM The Roads and Transport Authority (RTA) has revealed that the total number of passengers lifted by public transport and taxicabs in Dubai during Eid al-Adha holiday has topped 5,454,714. “The RTA has lifted 5,454,714 passengers during Eid al-Adha holiday, where the number of Metro riders reached 1,829,356 passengers; with 1,177,502 passengers carried on the Red Line compared ...

Dubai / WAM Emirates Islamic’s net profit for the first half of 2017 stood at AED387 million compared to AED137 million for the same period last year, reflecting the success of its investment deposits. One-year deposits offered 1.95 percent per annum in the second quarter of 2017, up by 50 bps since the end of 2016, while two-year deposits offered ...

Dubai / WAM The Ajman Chamber of Commerce and Industry (ACCI), signed a Memorandum of Understanding (MoU) with the Department of Economic Development in Dubai (DED-Dubai), to foster the cooperation and exchange of experiences between both sides. The MoU was signed by Salem Al Suwaidi, Director-General of Ajman Chamber, and Ali Ibrahim, Acting Director-General of DED-Dubai, at the Chamber’s headquarters. Through ...

Bloomberg Wells Fargo & Co. raised its estimate for how many bogus accounts employees may have created, a sign the bank is still struggling to move past a scandal that sparked record fines and congressional investigations. An outside review into more than 165 million deposit and credit-card accounts found an additional 1.4 million that were potentially unauthorised, bringing the total ...

Bloomberg In an economy growing at a moderate pace at best, the US job market keeps on shining. Payroll gains topped forecasts in five of the past seven months, putting the 2017 average increase of 184,000 almost on par with last year’s 187,000 and above levels typical for the eight-year expansion. Analysts expect barely any falloff from that pace in ...

Bloomberg Sequoia Capital and IDG Capital are investing in Beijing-based Bitmain Technologies Ltd., the world’s largest bitcoin mining organisation, according to people familiar with the matter. Bitmain is raising $50 million from several venture firms to boost its profile among mainstream investors, said one of the people, who asked not to be named. Sequoia and the other firms also plan ...

Bloomberg Asia’s messaging apps have a history of becoming huge in their home market before struggling to gain traction overseas. South Korea’s Kakao Corp. is counting on the Japanese love of manga comics to break that trend. Amassing 43 million users at home has driven Kakao’s market value to $7.2 billion but it’s little known outside Korea, a factor that’s ...

Bloomberg India plans to finalise trading specifications for the country’s new spot gold exchange in November amid a push to improve transparency in the world’s second-biggest bullion market, people familiar with the matter said. A panel of finance ministry and trade ministry officials, as well as industry groups including refiners, jewelry associations and export and import firms, plan to have ...

Bloomberg South Korea detected that North Korea is continuing to prepare for a possible intercontinental ballistic missile (ICBM) launch, a move that would further raise tensions a day after it conducted its sixth and most powerful nuclear detonation. Chang Kyung-soo, acting chief of the defense ministry’s policy planning office, told lawmakers on Monday that North Korea was making preparations for ...