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Dubai / WAM Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Dubai Islamic Economy Development Centre, DIEDC, has announced that the centre has made remarkable progress in three strategic sectors of the Islamic economy: Islamic finance, Halal trade and industry, and Islamic lifestyle. He noted that among the objectives of DIEDC’s updated strategy for 2017-2021, are ...

Dubai / Emirates Business His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), on Wednesday launched Dubai Smart City Accelerator – the first of its kind in the MENA region – within DSOA’s wholly owned Dubai Technology Entrepreneur Centre (Dtec), the largest hub of its kind in the Middle East. His Highness Sheikh Ahmed ...

Bloomberg A suicide truck bomb in Kabul killed as many as 80 people and wounded 350 on Wednesday morning near a diplomatic enclave in the worst attack on the Afghan capital in 10 months. The explosion happened near the German embassy about 8:25 a.m. in the Wazir Akbar Khan area, a busy neighborhood that’s home to the presidential palace and ...

Bloomberg India’s introduction of a single nationwide goods and services tax may have an unexpected consequence: prompting more companies to sell shares to the public. That’s the view of Ashishkumar Chauhan, chief executive officer of BSE Ltd., the operator of the Bombay Stock Exchange. He says smaller firms that become tax-compliant due to the levy, scheduled for implementation on July ...

Bloomberg China’s official manufacturing gauge held up in May, buoyed by an improving global outlook. Manufacturing purchasing managers index remained at 51.2 for a second straight month in May, compared with a median estimate of 51 in a Bloomberg survey of economists. Non-manufacturing PMI rose to 54.5 Numbers higher than 50 indicate improving conditions. While some early indicators for May ...

Bloomberg Japan’s industrial output rebounded in April, hitting the highest level since 2008, as overseas demand continued to support the nation’s economic recovery. Industrial production increased 4.0 percent (forecast +4.2 percent) in April from March, when it fell 1.9 percent. Industrial production index rose to 103.8 in April, the highest level since October 2008. Output is forecast to fall 2.5 ...

Bloomberg Levandowski joined the ride-hailing startup in 2016 after several years at Google’s autonomous driving project, which is now called Waymo. In February, Waymo sued Uber alleging that Levandowski stole trade secrets and patents from Waymo for the development of self-driving technology and brought them to Uber. Levandowski has invoked his Fifth Amendment right not to testify in the case, ...

Bloomberg The Greek government wants to persuade shipowners and shipping-insurance companies based in London to move their European Union headquarters to Greece as the UK prepares to exit the bloc. “We’re in contact with five large ship-insurance brokers who are considering various EU member countries for the transfer of their headquarters,” Shipping Minister Panagiotis Kouroumblis said in an interview in ...

Bloomberg UK mortgage approvals fell to a seven-month low in a sign the housing market is slowing, though Britons are continuing to take advantage of low interest rates to take on unsecured debt. Lenders approved 64,645 home loans in April, the fewest since September and below the median forecast in a Bloomberg survey. Mortgage lending grew 2.7 billion pounds, the ...

Dubai / Emirates Business FinTech Hive at DIFC, the region’s first FinTech accelerator launched by Dubai International Financial Centre (DIFC) earlier this year, received over 100 applications from more than 32 countries for its inaugural programme. The majority of applications have come from the UAE, the UK, the US, India, Nigeria and Singapore, and cover a range of concepts including ...