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Bloomberg This is the year when the biggest political and economic conundrum to face the UK in modern times will be solved, further complicated or even abandoned in all but name. Within 10 months, the British government and European Union aim to have an agreement on their divorce and at least the outline of their future trading relationship. They have ...

Bloomberg Germany’s unemployment rate fell to a record low as the number of people out of work slid for a sixth month, reflecting a boom in Europe’s largest economy that could push up wages and inflation. The jobless rate was 5.5 percent in December, and the previous month’s rate was revised down to the same level, the Federal Labor Agency ...

Bloomberg Wall Street doesn’t think corporate America will have a hard time coming up with those employee bonuses that were promised after taxes were slashed. The December passage of the tax overhaul package and West Texas Intermediate crude’s breach of $60 a barrel have propelled the S&P 500 three-month earnings estimate revision ratio to its highest level since 2011, according ...

Bloomberg The UK’s thrifty health authority has cleared its most expensive medicine ever—a $700,000 GlaxoSmithKline Plc treatment for an illness known as “bubble-boy disease.” But the overall cost to the country’s medical system won’t be as eye-popping as the price suggests. Glaxo, Britain’s biggest drugmaker, said it has treated four patients with Strimvelis since it was approved by the European ...

DUBAI / WAM HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has dedicated his accession day anniversary to thank His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for devoting his life to serving the nation ...

ABU DHABI / WAM The Ministry of Finance (MoF) on Tuesday issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system, becoming the first federal entity to implement tax procedures and issue a tax invoice in 2018. The ministry provides a fully-integrated system, a technical support team, as well as a telephone ...

DUBAI / WAM Marks & Spencer (M&S) on Tuesday confirmed the sale and franchise of its retail business in Hong Kong and Macau to its long-established franchise partner Al-Futtaim. The sale, which completed on December 30, sees Al-Futtaim become the new sole franchisee for M&S in Hong Kong and Macau. Al-Futtaim has worked in partnership with M&S since 1998 when ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) received a high-level delegation from Saudi Aramco company. The meeting heightened cooperation between the two organisations, with Saudi Aramco able to review practices and expertise at DEWA, including benchmarking and key performance indicators. The delegation included Khalid Al Salouli, Aramco Director and Head ...

SINGAPORE/ Reuters Oil prices posted their strongest start to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. US West Texas Intermediate (WTI) crude futures traded broadly flat at around $60.40 a barrel by 1425 GMT after hitting $60.74 earlier in the ...

DUBAI / Emirates Business Global trade enabler DP World’s Jebel Ali Free Zone (Jafza) has welcomed Maysun Solar, the first photovoltaic panel producer to set up a manufacturing facility in the region’s leading free zone. Maysun Solar currently manufactures 5,000 solar panels a month with a capacity to generate 40 megawatts of electricity. The launch follows DP World’s on-going solar ...