News

Bloomberg Britain’s services growth weakened more than expected at the start of the year, casting a cloud over the economy following some recent positive figures. IHS Markit’s Purchasing Managers Index fell to 53 in January from 54.2 in December. That’s the lowest since September 2016 and well below the 54.1 economists had forecast. Along with reports showing a slowdown in ...

Bloomberg Jaguar Land Rover’s lower sales in the US and Europe pulled down profit at parent Tata Motors Ltd. Net income was $187 million in the quarter through December, Tata Motors said. That compares with the 23.5 billion-rupee average of 15 analysts estimates compiled by Bloomberg. Profit before tax at its Jaguar Land Rover unit fell 25% to $271 million. ...

Bloomberg The modern office is starting to look more like a Rainforest Cafe than a place of business. Amazon.com Inc.’s new Seattle headquarters has 40,000 plants. Down the coast, every other floor in Samsung’s two-and-a-half-year-old San Jose office space is a garden. Alibaba Group Holding Ltd. wants all employees in its Hangzhou workplace to be no more than a one-minute ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the construction of 7,270 housing units for Emiratis across different parts of the UAE at a total cost of AED7.2 billion ($1.9 billion) to be delivered up until 2021. Chairing a cabinet meeting on ...

ABU DHABI / WAM The Federal Tax Authority (FTA) said that the final reduced prices for goods on promotional offers must include the 5 percent Value Added Tax (VAT), which is to be calculated as included in the new price after reductions by the sales outlets or service providers themselves. In a new awareness message targeting consumers and service recipients ...

DUBAI / Reuters Dubai’s Al Khaleej Sugar Refinery has agreed to build a major agro-industrial complex to produce beet sugar under a deal signed with the Egyptian government, the world’s largest port-based sugar refinery said on Sunday. The project, named Al Canal Sugar, will be located only about 200 km (125 miles) from its market, Jamal al-Ghurair, managing director of ...

DUBAI / Emirates Business Mega-projects like Expo 2020 Dubai are fuelling the UAE’s CCTV and video surveillance market to top $194 billion by 2023, industry experts announced ahead of the World Government Summit, running in Dubai from February 11-13. During the World Government Summit, global leaders will exchange best practices in using technology to enhance public safety. The UAE is ...

Abu Dhabi / WAM UAE media leaders have defined a new path forward to cope with the dramatic changes facing the sector and achieve the UAE’s ambitions, cementing the country’s leadership status, according to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai. He was speaking at the Future of Media ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that innovative Emiratis are the cornerstone of leadership and the future and the most important element in achieving the strategic visions of the UAE. During the graduation ceremony of the second group completing the Diploma ...

Sharjah / WAM The Sharjah Economic Development Department (SEDD), launched a website for the ‘Eitimad’ licence. This new launch is part of the SEDD’s continued efforts to develop Sharjah’s economy by providing advanced services and facilities for investors, via a comprehensive development of a competitive knowledge-based and innovative economy. According to the Department, Q4 of 2017 witnessed an increase in ...