News

DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued a new Employment Law for the Dubai International Financial Centre (DIFC). The newly-enacted Law No. 02 of 2019 compliments the DIFC’s commitment to international best practice, addressing key issues such as paternity leave, ...

ABU DHABI / WAM A high-profile delegation from the Abu Dhabi Department of Energy (DoE), led by the DoE’s Chairman Awaidha Murshed Al Marar, is visiting the Australian state of Victoria this week to expand cooperation and reinforce strategic partnerships in energy between Abu Dhabi and other countries of the world. The visit will see the delegation meet with officials ...

RAS AL KHAIMAH / Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA) has further strengthened its position in Europe with a multi-city roadshow in the UK and Germany that brought together more than 370 tour operators and travel agents. In a bid to attract 1.5 million visitors by 2021, increased emphasis has been put on growing further awareness of ...

Berlin / WAM The United Arab Emirates and Germany have reaffirmed their joint commitment to the fight against terrorism and violent extremism, in all its forms, at both regional and international levels. In a joint statement issued on Wednesday on the occasion of the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and ...

Abu Dhabi / WAM The Central Bank of the UAE (CBUAE), in coordination with the Higher Sharia Authority (HSA), hosted a workshop on centred around Islamic finance inviting major financial stakeholders of the UAE. The session was first of many sessions within the newly launched Executive Programme, a platform designed for sharing knowledge and expertise in areas of mutual interest ...

Abu Dhabi / WAM The Khalifa bin Zayed Al Nahyan Foundation signed an agreement with the Electricity and Energy Ministry of the Republic of Yemen to implement a power plant in Aden at a cost of $100 million. The agreement is part of the continuous programme implemented by the UAE to support the electric power sector in Aden. The agreement ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), and a delegation from Abu Dhabi Future Energy Company (Masdar), have discussed ways of developing their partnership on renewable and clean energy, and the various plans and projects that support the objectives of the UAE Centennial 2071. At the meeting, which was held ...

Bloomberg Alphabet Inc’s Google is moving some production of Nest thermostats and server hardware out of China, avoiding punitive US tariffs and an increasingly hostile government in Beijing, according to people familiar with the matter. Google has already shifted much of its production of US-bound motherboards to Taiwan, averting a 25 percent tariff, said the people, asking not to be ...

Bloomberg As China’s car market cools, American manufacturers are among those getting hurt the most. The market share of US brands fell to 9.6 percent in the first five months of 2019 from 10.9 percent a year earlier, the state-backed China Association of Automobile Manufacturers said. German and Japanese brands, meanwhile, gained share in the world’s largest car market. The ...

Bloomberg Hong Kong stock traders have a lot to contend with right now. A trade war between China and the US, a slumping yuan, spiking interbank rates and now street protests that have spilled across the city’s financial district in a repeat of 2014’s Occupy movement. The last two — rates and protests — have combined to snuff out a ...