News

Dubai / WAM The Business Registration and Licensing (BRL), sector of the Department of Economic Development (DED), Dubai, issued 2,204 new licences in February 2019, a growth of 37 percent compared to February 2018 (1,606). The new licences created 8,515 jobs in the labour market. Among the new licenses issued, 61.1 percent were commercial, 36.5 percent professional, 1.7 percent related to tourism ...

Abu Dhabi / WAM His HHighness Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of the Abu Dhabi Executive Council, praised the wise policy of the Abu Dhabi Government and its keenness to provide the best services, which will make everyone happy and continue the process of sustainable development. Following his inauguration of a new municipal centre in Khalifa City, ...

DUBAI / WAM Dubai SME, the agency of the Department of Economic Development (DED), mandated to develop the small and medium enterprise (SME), sector, supported 4,227 Emirati entrepreneurs with incentives and facilities worth AED101 million ($27.5 million) in 2018. The number of entrepreneurs represents an increase of 32 percent over the previous year and the increase in the value of ...

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX), announced the establishment of the ‘Zayed Centre of Excellence for Financial Research’, at the Higher Colleges of Technology – Abu Dhabi Women’s campus. The Centre’s main objectives includes collaborating with HCT on research related to finance including, but not limited to, finance-related data analytics, financial technology services, artificial intelligence, blockchain, ...

Abu Dhabi / WAM As part of the Abu Dhabi Government’s accelerator programme ‘Ghadan 21’, the Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, has announced strategic initiatives to further drive the development of the Emirate’s tourism sector. In line with the Ghadan 21 ambition, to make Abu Dhabi one of the best places in the world ...

Bloomberg China’s multi-year campaign to contain financial risk is re-focusing on the so-called “hidden debt” owed by local governments, as officials seek to reduce repayment pressures amid falling tax revenues. Provinces and cities from Jiangsu in the east to Qinghai in the west are looking for means to pay-off or restructure their implicit borrowings, a term which includes off-book funding ...

Bloomberg Japan’s biggest manufacturers say current business conditions are at the worst in nearly three years, the latest indication the nation’s export-dependent economy is taking a battering in the current quarter. The Finance Ministry’s quarterly business survey, released on Tuesday, showed a reading of minus 7.3 for conditions among Japan’s largest manufacturers, the worst result since the second quarter of ...

Bloomberg Toyota Motor Corp. is scoping out a new frontier: lunar rovers. The Japan Aerospace Exploration Agency is teaming up with the country’s largest carmaker to build a six-wheeled self-driving transporter that can carry two humans for a distance of 10,000 kilometers. They’re aiming to land a vehicle on the moon in 2029. The announcement comes less than a week ...

Bloomberg A tide of money from China is likely to lift the Thai baht back up after it went from first to one of the worst among Asia’s currencies. While the baht dropped last month versus the ringgit by the most in almost two years, flows from China are likely to favour Thailand in the coming months. Bangkok is looking ...

Bloomberg The catastrophic slump of Singapore’s much-vaunted water and power company, Hyflux Ltd., has stunned 34,000 retail investors who were lured by the promise of a 6 percent annual return forever from a company that seemed to have a gold seal of government approval. At the heart of the debacle is Tuaspring, a desalination and power plant that cost S$1.1 ...