News

Bloomberg International Business Machines Corp. is pressing deeper into its strategy of making cloud services more compatible with competitors, rather than trying to force customers into its own walled garden. IBM unveiled three new products to manage security, artificial intelligence and storage services across multiple cloud systems, regardless of whose they are. Having arrived late to the cloud revolution, IBM ...

Bloomberg Three commodities traders were charged by the US Justice Department with orchestrating a $60 million fraud that involved spoofing and conspiring to manipulate futures contracts, according to prosecutors and court filings in Houston. Yuchun “Bruce” Mao, a 39-year-old Chinese national, is accused of working with two other traders at his firm in a scheme to rig the purchase and ...

Dubai / WAM The second United Nations Data Forum 2018 will commence on Monday, October 22. The three-day forum takes place in Dubai and will bring together more than 2,500 data experts, high-ranking government officials and prominent policy makers from 120 countries around the world. With 80 interactive discussion panels and over 400 global spe-akers, the second edition of the ...

DUBAI / Emirates Business The fourth edition of the annual UAE-India Economic Forum (UIEF), which will be held in Dubai on October 24, is poised to explore the strengthening ties and bilateral trade relations between the two countries. The UIEF is supported by the Telangana Chamber of Commerce and Industry and Gujarat Chamber of Commerce and Industry. The forum, to ...

ABU DHABI / WAM The Federal Tax Authority (FTA) has revealed that compliance with tax returns requirements for excise tax one year after its introduction in the UAE has amounted to 97.7% of registered businesses — one of the highest rates in the world — while the total number of registrants reached 715 registrants. Khalid Ali Al Bustani, Director General ...

Emirates Business Maqta Gateway LLC, an Abu Dhabi Ports subsidiary, announced that it is to carry out its first testing of international blockchain solution Silsal with a maritime operator in partnership with MSC Mediterranean Shipping Company, a global leader in shipping and logistics. The announcement marks the latest milestone for Silsal. The innovative solution provides a seamless and secure link ...

STOCKHOLM / WAM Mariam Hareb Almheiri, Minister of State for Food Security, met Elisabeth Backte- man, State Secretary of Swed-ish Ministry of Enterprise and Innovation, to discuss means of enhancing ties in innovations in food technology. This meeting was held as part of UAE minister’s visit to Sweden, where she visited a number of research centres and companies which support ...

ABU DHABI / WAM The Abu Dhabi Smart Solutions and Services Authority (ADSSSA) formally launched its ‘Abu Dhabi Government Digital Payment platform’ (ADPay) at GITEX Technology Week 2018. Launched in collaboration with the First Abu Dhabi Bank (FAB), the platform is a testament to the ADSSSA’s support for the Abu Dhabi Digital Transformation Program’s effort to build a sustainable and ...

SHARJAH / WAM Sharjah Islamic Bank (SIB) announced robust financial results despite economic challenges for the first nine months of 2018 declaring net profits at AED397.7 million compared to AED360 million declared during the same period last year, showing a 10.5% increase. Total assets of the Shariah-compliant bank reached AED44 billion at the end of September 2018 compared to AED38.3 ...

Dubai / Emirates Business Etihad Credit Insurance (ECI), the UAE Federal export credit company, and SACE, the Italian export credit company (CDP Group), have signed a Memorandum of Understanding (MoU) to enhance business opportunities between the Unit-ed Arab Emirates and Italy, as part of the 6th meeting of the UAE-Italy Joint Economic Committee held in Rome, Italy. Under this MoU ...