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Dubai / WAM DMCC, the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, has been named the ‘Global Free Zone of the Year 2018’ by the Financial Times’ fDi Magazine for a record fourth consecutive year. Central to the national economic diversification strategy, DMCC’s latest set of awards reflect its ability to attract foreign ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) has awarded contracts to design, manufacture, test and supply 11/0.4KV, 1500KVA & 1000KVA Cast Resin Distribution transformers with LV Smart Meters to various leading international transformer manufacturers. The total cost of the 990 transformers is worth around AED 93 million. This supports DEWA’s ongoing efforts to meet various requirements to expand ...

Dubai / WAM Dubai Customs won first place in the 11th Arabia CSR Awards under the Public Sector Category in recognition of its efforts to demonstrate outstanding leadership and commitment to corporate sustainability. The award, organised by the Arabia CSR Network, saw the participation of more than 800 organisations, representing 31 sectors from 13 Arab countries. By taking advantage of ...

Abu Dhabi / WAM Ahmed Shabib Al Dhaheri, Secretary-General of the Federal National Council (FNC), on Sunday met at the FNC’s headquarters in Abu Dhabi, a joint delegation from the Bahraini Shura Council and the Supreme Council of Women of Bahrain. During the meeting, both sides discussed the means of strengthening their cooperation, coordination and partnership, as well as their exchange ...

Dubai / WAM The Telecommunications Regulatory Authority (TRA), represented by Hamad Obaid Al Mansoori, TRA Director-General, participated in the 16th Annual Meeting of the Arab Regulators Network of telecommunications and information technologies (Aregnet), which was held in Bahrain based on the decisions of the 15th Aregnet meeting, which was hosted by the UAE in Abu Dhabi in September 2017. As ...

Bloomberg The worst may not be over for India’s state-run oil refiners. The request by the central government that they absorb a portion of sweeping fuel price cuts is raising speculation by analysts at Goldman Sachs Group Inc., Citigroup Inc. and Jefferies Group LLC that price controls may be reintroduced or further reductions will be demanded. The move comes amid ...

Bloomberg Singapore Inc. is stirring, with companies from real estate to engineering becoming bolder in their hunt for acquisitions abroad. Companies in the city-state announced around $91 billion of overseas deals this year through September, more than double the $41.9 billion of transactions for the same period of 2017, data compiled by Bloomberg show. Temasek Holdings Pte and GIC Pte ...

Bloomberg Malaysia intensified its efforts to rein in spending by reducing the cost of an almost $14-billion mass-rapid transit project, as Prime Minister Mahathir Mohamad reviews programs he says his predecessor kicked off under unfair terms. The Finance Ministry shaved 5.22 billion ringgit ($1.3 billion) from the above-ground portion of the nation’s MRT2 project, accepting a new construction tender by ...

Bloomberg China’s foreign-currency holdings fell in September, as heightened trade tensions with the US fueled concerns of capital outflow and further yuan depreciation. Reserves declined by $22.69 billion to $3.087 trillion in September, the People’s Bank of China (PBOC) said on Sunday. That compares with $3.110 trillion the previous month and the median estimate of $3.105 trillion in a Bloomberg ...

Bloomberg Indonesia stands ready to respond to global risks brought about by an intensifying trade war and rising US interest rates that have driven the nation’s currency to a two-decade low, officials said. The government will coordinate its policy response with the central bank and the financial services authority, Finance Minister Sri Mulyani Indrawati told reporters in Jakarta. Bank Indonesia ...