News

Bloomberg Add $4.4 billion in imported cabinets to the long list of Chinese goods slapped with US levies in the escalating trade dispute between Washington and Beijing. The Commerce Department said it will ask the US Customs and Border Protection to collect cash deposits from importers of the wooden cabinets and vanities from China based on subsidy rates of as ...

Bloomberg German industrial production registered its biggest annual decline in almost a decade, highlighting the severity of the trade-inflicted manufacturing slump in Europe’s largest economy. Output was down 5.2% in June from the previous year, the most since late 2009, when the country was recovering from the Great Recession that followed the global financial crisis. The numbers are the latest ...

ABU DHABI / WAM Khalifa Industrial Zone Abu Dhabi (Kizad), an Abu Dhabi Ports subsidiary, has waived the charges for over 75 percent of its services, in line with the Abu Dhabi Government directive to encourage further investment into the emirate. In an ongoing commitment to the growth and success of operations at Kizad, three-quarters of services will be offered ...

Dubai / WAM Dubai Aerospace Enterprise (DAE) reported on Tuesday its financial results for the six months ended on June 30. According to the aerospace corporation the first half of 2019 saw total revenues of $726.9 million compared to $711.4 million during the same period last year. DAE’s net profits reached $197.1 million, compared to $195.2 million in H1 2018. ...

Bloomberg Mastercard Inc agreed to buy a payments platform owned by Denmark-based Nets for 2.85 billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into faster payments. With the purchase, Mastercard is getting an electronic-billing platform and clearing and instant-payment services, according to a statement on Tuesday. The company said the purchase will hurt profit for ...

Bloomberg Brent oil slid below $60 a barrel for a second day as investors weighed the prospects of a prolonged standoff between the US and China, following the Trump administration’s labelling of the Asian nation as a currency manipulator. London-traded futures erased an earlier rally to fall about 0.5 percent on Tuesday. A move by the People’s Bank of China ...

Abu Dhabi / WAM The number of licences issued for the top ten economic activities in the UAE totalled 3,976 from the start of the year to the end of July, according to the National Economic Register. Public trade continued to be the most active economic sector in the UAE during the first seven months of the year, reflecting the ...

ABU DHABI / WAM The Federal Customs Authority (FCA) has implemented a unified customs electronic system that will reinforce customs control methods across the Emirates. FCA has signed an agreement with the General Customs Authority — Abu Dhabi and a memorandum of understanding (MoU) with Dubai Customs under the framework of implementing common systems across UAE borders and customs administrations. ...

Sharjah / Emirates Business Zulekha Hospital, Sharjah takes pride in being the first private hospital in UAE to be certified with the Baby Friendly Hospital Initiative (BFHI) accreditation by UNICEF and WHO. The Baby-friendly Hospital Initiative (BFHI) was launched by WHO and UNICEF in 1991, following the Innocenti Declaration of 1990. The initiative is a global effort to implement practices ...

ABU DHABI / Emirates Business A total of 25 teams have been shortlisted by the Authority for Social Contribution — Ma’an to proceed to the pitching phase of their social incubator programme, which aims to grow business ideas with a community focus into social enterprises and not-for-profit associations. It follows a highly competitive selection process which saw more than 130 ...