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Dubai / WAM The UAE attracted $10.35 billion in foreign direct investments in 2017, accounting for 36 percent of the total FDI inflows to the Arab countries. These figures were released by the UAE Ministry of Economy in conjunction with Annual Investment Meeting (AIM), the world’s biggest platform for FDI, which will kick off on Monday in Dubai, where more ...

DUBAI / WAM National Bank of Fujairah (NBF), inaugurated its first international representative office in Antwerp Diamond District, Belgium, the largest rough trading hub in the world. This falls in line with the bank’s strategy to further cement its position as the leading financial partner for clients in the industry through its unparalleled sector expertise and bespoke solutions. The new ...

Dubai / WAM The avoidance of double taxation agreement signed between the United Arab Emirates and Saudi Arabia has come into effect at the beginning of this month, after both countries completed the necessary procedures in accordance with their regulations. The UAE, represented by the Ministry of Finance (MoF), signed the agreement with Saudi Arabia on the avoidance of double ...

Bloomberg Stronger-than-expected new-car sales last month belied a dirty little secret: Automakers have been selling more vehicles to rental fleets in recent months to prop up volume. Deliveries to rental-car companies and other non-retail buyers accounted for more than a third of total sales last month for Ford Motor Co and Nissan Motor Co, according to data from researcher Cox ...

Bloomberg Carlos Ghosn will remain in jail until at least April 14 after a Japanese court granted prosecutors’ request to keep the former chairman of Nissan Motor Co longer for questioning on new allegations of funneling millions of dollars from the automaker for his own purposes. The court disclosed its decision in a statement. The former global auto titan, who ...

Bloomberg China’s foreign-currency holdings rose for a fifth month as lower government bond yields in developed markets lifted valuations. Reserves increased by $8.58 billion to $3.0988 trillion in March, the People’s Bank of China said on Sunday. The reading compares with $3.09 trillion from the previous month and the median estimate of $3.09 trillion in a Bloomberg survey of economists. ...

Bloomberg Indonesian ride-hailing service Go-Jek’s value was estimated at $10 billion by a US market intelligence company, putting it in the ranks of startups called decacorns. New York-based CB Insights has listed Go-Jek among 19 decacorns around the world, along with the likes of Uber Technologies Inc, according to the Jakarta Post newspaper. That would make Go-Jek Indonesia’s first startup ...

Bloomberg BHP Group Ltd will cut jobs in a continuing effort to reduce bureaucracy under a previously foreshadowed streamlining strategy, a person familiar with the matter said. It is unclear how many jobs will be lost or when the reductions will begin, the person said, requesting anonymity because the move isn’t public. The changes come less than six weeks after ...

Bloomberg Living where you work and play may not seem like the ideal balance in terms of escaping the grind, but it’s a key plank of Singapore’s vision for its central business district. Like many cities’ financial centres, Singapore’s is bustling by day and close to deserted during a weekend. The government hopes to change that and laid out details ...

Bloomberg Colorado’s legislature passed a sweeping overhaul of the state’s oil and natural gas laws, giving local governments more power to regulate drilling in one of the nation’s top crude-producing regions. The bill, which passed the state Senate by just three votes amid intense industry opposition, now heads to the desk of Democratic Governor Jared Polis, a longstanding proponent of ...