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  Bloomberg One of the world’s most devoted gearhead clubs is about to get a little pricier in the UK as a result of the country’s vote to leave the European Union. Tesla Motors will increase prices in the UK by 5% in 2017, a move attributed to the falling pound and described as “due to curre- ncy fluctuations,” a ...

  Dubai / WAM The UAE is accelerating its efforts to boost the industrial sector and make it a valuable contributor to the national economy, turning the ‘Made in UAE’ label into a mark of quality and global excellence and can achieve this through successful partnerships with international manufacturers, and stimulating investments in industry, said HH Sheikh Ahmed bin Saeed, Chairman ...

  ABU DHABI / Emirates Business Arab Bank for Investment and Foreign Trade (Al Masraf), one of the UAE’s premier banking institutions, has been bestowed with the prestigious Sheikh Khalifa Excellence Award – 2016 (SKEA) for demonstrating continuous improvement over its past performance. The recognition is an outcome of a strategy implemented by the bank three years ago to achieve ...

  Ras Al Khaimah / Emirates Business Emaar Properties PJSC signed an agreement with Al Marjan Island (AMI), a leading waterfront master developer in the UAE, to develop 2 million sq ft mixed-use projects including high-end residential, hospitality and retail components in Al Marjan Island in Ras Al Khaimah. Ras Al Khaimah’s first man-made project, Al Marjan Island has a ...

Aleppo / AFP The last residents hoping to leave rebel-held Aleppo waited in the snow on Wednesday as delays hit an evacuation that will leave Syria’s army in full control of the devastated city. An AFP correspondent in the government-held neighbourhood of Ramussa—through which thousands of evacuees have passed in recent days—saw no convoys leaving the last pocket of opposition-controlled ...

  Dubai / WAM In his capacity as Ruler of Dubai, Vice President, Prime Minister, His Highness Sheikh Mohammed bin Rashid Al Maktoum approved the Government of Dubai’s Budget Law No. (17) for the year 2016 for the emirate’s 2017 general budget, with AED47.3 billion expenditure, according to the new budget classification. Issued earlier this year, the Financial Regulations for the ...

  Dubai / WAM Emirates NBD, a leading bank in the region, on Wednesday announced that it has been named The Banker’s ‘Bank of the Year – UAE 2016’. The awards, considered among the most prestigious by the global banking community, recognise Emirates NBD’s strong financials and pioneering approach to the digitalisation of banking. In awarding the top UAE title to ...

  Berlin / AFP German police launched a manhunt on Wednesday for a Tunisian suspected of driving the truck that ploughed through a Berlin Christmas market in a deadly assault claimed by the IS extremist group. Media reports said asylum office papers believed to belong to the man were found in the cab of the 40-tonne lorry used in the ...

  San Francisco / AFP Volkswagen has reached a $1 billion agreement with US authorities on a compensation deal for the last 80,000 vehicles affected by its emissions-cheating scandal in the United States, officials said. However, a Justice Department official said a criminal investigation is ongoing, and charges may still be filed against the company — which could bring new ...

  Bloomberg UK house-price inflation will slow in 2017 as affordability stretches potential buyers, according to the Royal Institution of Chartered Surveyors. Values will rise just 3 percent and the number of transactions will see a moderate decline, RICS said in a statement on Wednesday. That compares with a year-on-year price increase of 6.9 percent in October, according to the ...