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DUBAI / WAM DMCC, the free zone for commodities trade and enterprise, has launched an exclusive offer on company set up for residents in the Jumeirah Lakes Towers, JLT, community. From June 2019, JLT residents qualify for a 40 percent reduced rate when registering a new company. “Flexibility is key when starting a business and by launching this exclusive offer, ...

ABU DHABI / WAM SALT – a global thought leadership forum fostering collaboration at the intersection of finance, technology, and geopolitics – has announced that it will bring the global thought leadership forum to Abu Dhabi later this year in strategic partnership with Abu Dhabi Global Market (ADGM). SALT Abu Dhabi, set to take place from November 19-21, will gather ...

Dubai / WAM The Business Registration and Licensing (BRL), sector in the Department of Economic Development (DED, Dubai), issued 2,599 new licences during May 2019, a growth of 50 percent compared to May 2018 (1,736). The new licences created 8,348 jobs in the labour market. Among those issued, 54.7% were professional, 42.7% were commercial, 1.8% related to tourism and 0.8% ...

Dubai / WAM Dubai’s Department of Tourism and Commerce Marketing, Dubai Tourism, reported a steady incline in tourism volumes from Romania, welcoming 29,670 overnight visitors in the first three months of 2019. Underscoring a 24 percent year-on-year increase when compared to the same period in 2018, the emirate has experienced sustained interest and a steady uplift in the number of ...

Abu Dhabi / WAM Emirates Foundation announced on Monday the launch of the fourth edition of the Emirates Award for the Arabian Gulf Youth (EAAGY). The award aims to unleash young individual’s social entrepreneurship potential and to establish leading social enterprises, which are capable of addressing and tackling collective challenges and achieving sustainable outcomes. It is one of the Emirates’ ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) on Monday announced a new strategic partnership with OCI N.V, which is a global producer and distributor of natural gas-based fertilisers and industrial chemicals, headquartered in the Netherlands. The partnership will see Adnoc combine its fertiliser business, Adnoc Fertilisers, into OCI’s Middle East and North Africa (Mena) nitrogen fertiliser ...

MOCHA / WAM With the support of the UAE, a project to increase water production capacity was launched in Mocha, on Yemen’s Red Sea Coast. It will serve more than 30,000 residents of the city and neighbouring areas. Mohammed Al Junaibi, Director of Humanitarian Affairs for the Emirates Red Crescent, ERC, in Yemen, said that the project will involve the ...

Bloomberg Huawei Technologies Co. is preparing for a drop in international smartphone shipments of 40 million to 60 million as the Trump administration’s blacklisting hammers one of the Chinese tech giant’s most important businesses. China’s largest technology company is crunching internal estimates and exploring options including pulling the latest model of its marquee overseas label, the Honor 20, people familiar ...

Bloomberg Alibaba Group Holding Ltd. plans a one-to-eight share split, as the e-commerce giant prepares for a stock sale that could be Hong Kong’s largest since 2010. China’s largest company is proposing to increase the number of ordinary shares eight-fold to 32 billion, it said in a statement. The proposal will be discussed and put to a vote at its ...

Bloomberg Spare a thought for Japan’s yield-starved investors. Not even three months into a new fiscal year, a gauge of global bond yields has slumped to the lowest since 2017 and the yen has strengthened against almost all its major peers. Assumptions made when investment plans were released in April are being rapidly reworked. A shift to longer-maturity bonds, increased ...