News

  Bloomberg Chinese billionaire Jack Ma’s latest US expansion plan is facing rising political obstacles. Two members of the House of Representatives urged the Committee on Foreign Investment in the US to conduct a “full and thorough” investigation of Ant Financial’s proposed acquisition of MoneyGram International Inc., a money-transfer service. “The proposal merits careful evaluation as it would provide Chinese ...

  Bloomberg Foreign investors gorging on Indian stocks and bonds propelled the rupee to its best first-quarter performance since 1975. The currency, Asia’s best performer this month, has rallied 4.7 percent since December 31 as a thumping win for Prime Minister Narendra Modi’s party in state elections boosted bets for continuation of his government’s reform agenda, luring overseas funds. The ...

  DUBAI / Emirates Business Dubai Culture & Arts Authority (Dubai Culture), the Emirate’s dedicated entity for culture, arts and heritage, has announced that it will be attending Milan Design Week 2017 – the world-leading design industry event that will take place from April 4-9 and stage a wide range of exhibitions under its umbrella, including the acclaimed Salone Internazionale ...

  Dubai / WAM Dubai’s trade performance has shown steady and sustainable growth over the last five years, with non-oil trade volumes in metric tonnes registering a compound growth rate of 6.1% according to figures from Dubai Customs. Despite a challenging macroeconomic environment which impacted global trade, Dubai’s trade volumes grew a healthy 8.2% in 2016, compared to the previous ...

  Abu Dhabi / Emirates Business Etisalat has reduced its roaming rates for voice calls, SMS and data. Starting from April 1, Etisalat’s prepaid and post-paid customers would enjoy discounted roaming rates of up to 35% on data, outgoing voice calls to UAE, GCC and local destinations and outgoing SMS while traveling to any Gulf Cooperation Council countries – Bahrain, ...

  DUBAI / Emirates Business Dubai’s success in maintaining its advanced position among the cities of the world in terms of capital inflow and the number of new FDI projects is a major achievement, said His Excellency Sami Al Qamzi, Director General of Dubai Economy. It reaffirms the investor confidence in Dubai while also underlining its role as a major ...

  ABU DHABI / WAM In a circular distributed to employers, the General Pension and Social Security Authority (GPSSA), called for employers’ compliance with the registration and contribution requirements for their Emirati employees. It stressed that registering UAE employees with the Authority and the payment of their contributions is obligatory under the provisions of Federal Law No. 7 of 1999 ...

  ABU DHABI / Emirates Business Following a record-breaking year for hotel guests in Abu Dhabi, the emirate recorded impressive growth in the first two months of 2017, seeing a 5.5% rise in hotel guests. According to figures from Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi), 749,650 hotel guests have checked into the emirate’s 170 hotels and hotel ...

  Abu Dhabi / Emirates Business From thought-provoking discussions to educational installations, this year’s edition of the Mother of the Nation (MOTN) Festival is set to broaden the minds of residents and visitors to the UAE with new perspectives on a variety of topics including conservation, sustainability and social commentary. Organised by Abu Dhabi Tourism & Culture Authority (TCA Abu ...

  Sharjah / Emirates Business The Sharjah Urban Planning Council (SUPC) began the full rollout of the Postal Code System (PCS) across the emirate. In-line with the emirate’s goal to improve the level of services provided to the public, PCS reflects the pioneering role played by Sharjah to develop essential tools that serve the emirate’s residents, visitors and future generations. ...