News

Bloomberg Xerox Corp.’s top executive and six board members agreed to step down in a victory for Carl Icahn’s battle against the company’s planned $6.1 billion takeover by Fujifilm Holdings Corp. The resignations, which include Chief Executive Officer Jeffrey Jacobson and Chairman Robert Keegan, are part of an agreement with activist investors to settle a lawsuit that will put in ...

ABU DHABI / WAM In line with the UAE Government’s efforts to ensure an efficient implementation of the Value Added Tax (VAT), while employing best international standards and maintaining the competitiveness of the local precious metals sector, the UAE Cabinet adopted a law to introduce the VAT Reversed Charge mechanism for investors in gold, diamond and precious metals. This step ...

ABU DHABI / WAM The UAE Central Bank’s total assets amounted to AED2.718 trillion during Q1 2018, 0.9 percent up from AED2.693 trillion by the end of December 2017, according to CBUAE statistics. Total loans increased to AED1.608 trillion during the first three months of the year, a growth of 1.8 percent from AED1.580 trillion during the corresponding period last ...

ABU DHABI / WAM Mohammed Thani Murshid Al Rumaithi, Chairman of the Federation of UAE Chambers of Commerce and Industry and Chairman of the Board of Directors of the Abu Dhabi Chamber of Commerce and Industry, and Navdeep Singh Suri, Ambassador of India to the UAE, have discussed promoting economic and investment cooperation among private sector institutions in the UAE ...

DUBAI / WAM The percentage of jobs requiring artificial intelligence (AI) skills have witnessed a nearly five-fold increase globally since 2013, and as the role of Human Resources keeps evolving in the digital age and technologies like AI and machine learning gain more prominence, organisa-tions in the Middle East will find more of their jobs and services being transformed by ...

ABU DHABI / WAM Abu Dhabi Commercial Bank (ADCB) announced it has become the first local bank to establish its presence in Abu Dhabi Global Market (ADGM), by opening its flagship private banking centre within the new asset management subsidiary. ADCB is the first local bank to obtain the ADGM Financial Services licence required to conduct regulated activities from the ...

DUBAI / WAM Dubai Courts is all set to revolutionise its operations with ‘C3 Court’, the world’s first judicial system in which all three courts – first instance, appeal and supreme court – hear each other concurrently rather than consecutively. The unique new initiative reduces the total time frame for the three proceedings for each case from 305 days to ...

Dubai / WAM More than 100 financial experts and industry stalwarts are already present in Dubai to attend the Future Blockchain Summit, with the emirate going a long way already to pronounce itself the Blockchain capital of the world, hosting the first ever summit on the groundbreaking technology. The two-day event, starting on Wednesday in the Dubai World Trade Centre ...

Abu Dhabi / WAM The UAE Banks Federation (UBF) announced that it continues its efforts to develop and raise financial awareness of consumers as it helps them not just to have access to financial services but also to take prudent and responsible decisions when it comes to their financial transactions. While a lack of financial knowledge may lead to financial ...

Dubai / Emirates Business Emirates, the world’s largest international airline, is celebrating its 25th anniversary to Dammam. Originally operating two flights a week, Emirates now flies four times daily between Dammam and Emirates’ hub in Dubai. Since the start of the Dammam service in 1993, the airline has carried more than 3.8 million passengers. Adil Al Ghaith, Senior Vice President, ...