News

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has enacted the DIFC Regulatory Amendment Law, No. 06 of 2018. The Law, which amends the Regulatory Law of 2004, will come into force on October 29 and, together with changes to DFSA Anti-Money Laundering Rules, will make ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa), organised the first intensive quantum computing training programme, in cooperation with Microsoft. The programme is part of Dewa’s efforts to employ latest technologies and benefit from capabilities of modern technology. The one-week programme was held at Dewa’s Sustainable Building in Al Quoz. A number of quantum computing experts from Microsoft participated ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, affirmed that Dubai, under the vision of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, will achieve its goal to be the most-visited city in the world, through ...

Abu Dhabi / WAM The General Civil Aviation Authority conducted a workshop in blockchain to understand its importance and how it may manifest itself in the field of aviation. This workshop is designed to cohesively integrate relevant information on block-chain that speaks to this category of aviation business decision-makers, by highlighting the best use cases, value propositions, and innovation strategies ...

Dubai / WAM Under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, Dubai FDI, the investment development agency of Dubai Economy (DED), announced that it is set to convene global investors in Dubai at the upcoming Dubai Investment Week 2018. The major event, which will ...

Bloomberg Oil steadied near the highest level in almost four years as fears of a supply crunch outweighed expectations for an increase in American crude inventories. Futures were trading around $75.50 a barrel in New York, up around 0.4 percent. Supply losses from Iran to Venezuela continued to rattle markets, boosting volatility and driving prices higher. The ongoing outlook for ...

Bloomberg Saudi International Petrochemical Co. signed a non-binding agreement to acquire Sahara Petrochemical Co. in an all-share deal valued at just over $2 billion. Saudi International Petrochemical Co., or Sipchem, will issue each Sahara shareholder with 0.8356 new Sipchem shares, the companies said in statements on Wednesday. The deal is valued at about $2.2 billion, according to Tuesday’s closing price. ...

Bloomberg Indonesia is weighing proposals to cut the levy on gains from its sovereign bonds and extend tax breaks to exporters who will park their dollar earnings in local banks for a longer period as part of measures to shore up a weakening currency. Lower bond taxes could attract more inflows and help “deepen domestic financial markets,” Robert Pakpahan, director ...

Bloomberg Tencent Music Entertainment Group, the online-music arm of China’s largest social-media company, filed for an initial public offering (IPO) in a continuing surge of US listings by Chinese companies. The music-streaming site listed its offering size as $1 billion in a filing with the US Securities and Exchange Commission. The amount is a placeholder and may change. Tencent Music ...

Bloomberg China ordered one of its top actresses and her associated companies to pay about 884 million yuan ($129 million) in taxes and fines, capping a months-long tax evasion probe that shook the nation’s blossoming entertainment industry. Fan Bingbing was personally fined about $70 million, with the remainder involving back taxes and fines against companies affiliated with the star, reports ...