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Dubai / Emirates Business United Arab Emirates ranks first in the region and third globally, after China and India, for a fifth consecutive year, according to the 2019 Agility Emerging Markets Logistics Index. In Agility’s 10th annual ranking of 50 leading emerging markets, a broad gauge of competitiveness based on logistics strength and business fundamentals, Gulf countries outperform most others. ...

Dubai / WAM The UAE Cabinet approved public holidays for the public sector for the years 2019-2020, and granted the private sector equal official holidays, a total of 14 official public holidays. The decision aims at enhancing the balance between the two sectors and supporting the national economy in its various fields. The decision will contribute to streamlining work in ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, announced the allocation of AED1 billion for infrastructure projects in Fujairah as part of the 2017-2021 five-year plan being implemented by the Ministry of Infrastructure Development on the eastern coast. His Highness also approved the allocation of AED400 million to build ...

Dubai / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, on Tuesday inaugurated Middle East Electricity 2019 – the 44th edition of the region’s leading event for the power industry. Held under the patronage of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and hosted by ...

Dubai / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, issued the financial circular No. (10) for 2019 on the preparation of the draft general budget of the federation for the fiscal year 2020. This year is the fourth of the five-year plan for 2017-2021, and the circular set March 22 ...

Bloomberg Libya’s biggest oil field resumed production. Sharara resumed production and is expected to reach 80,000 barrels in one day, according to people with knowledge of the matter who asked not to be identified because they aren’t authorized to speak to the media. Regular output will be fully restored in the coming days, now that the site has been re-secured ...

Bloomberg China lowered its goal for economic growth and announced a major tax cut, as policymakers seek to pull off a gradual deceleration while grappling with a debt legacy and the trade standoff with the US. The gross domestic product (GDP) growth target released on Tuesday morning in Premier Li Keqiang’s annual work report to the National People’s Congress was ...

Bloomberg SoftBank Group Corp.’s Vision Fund raised a $3 billion loan from banks including Goldman Sachs Group Inc. to help bridge funding gaps in deals, according to two people with knowledge of the matter. Goldman Sachs along with Mizuho Financial Group Inc. led the so-called capital call facility, said the people, asking not to be identified because the information is ...

Bloomberg Indonesia is going all out to strike trade pacts with about a dozen countries and blocs as US-China trade war hurts its shipments and threatens to worsen a current-account deficit. The urgency to seal as many trade pacts as possible stems from the need to reverse a slump in exports in the past three months, which sent the nation’s ...

Bloomberg One of Hyundai Home Shopping Network Corp.’s largest investors is calling for the company to return about $365 million in cash to shareholders, realign executive compensation and split off some of its businesses. Dalton Investments, which said its accounts and its clients own a 2.5 percent stake, said in a letter on Tuesday to Hyundai Home Shopping’s board that ...