News

Bloomberg House Republicans are waiting anxiously for a new financial estimate on Wednesday on their Obamacare repeal proposal that could force them into an embarrassing do-over on the bill they barely passed early this month. Speaker Paul Ryan says he is uncertain about the nonpartisan Congressional Budget Office analysis of the measure’s budget impact — critical for meeting Senate rules ...

Bloomberg For the first time in almost 80 years, a private company has sunk a new offshore oil well in Mexican waters — the latest step in the country’s drive to allow foreign competitors back into its energy markets. A joint venture of London-based Premier Oil Plc, Houston’s Talos Energy LLC and Mexico’s Sierra Oil & Gas began drilling the ...

ABU DHABI / WAM Insurance companies listed on ADX and DFM held decent profits of AED445 million for the Q1 2017, an increase of 44.5 percent over the same period last year. The profits are an all-time-high for several years, reflecting the considerable growth recorded since the beginning of the year, according to a survey conducted by Emirates News Agency ...

Bloomberg PM Theresa May vowed to combat the “ideology” behind Britain’s worst terrorist attack in 12 years after a suicide bombing killed 22 people at a pop concert. IS claimed responsibility. Campaigning for next month’s general election was suspended indefinitely after the attack in northern city of Manchester. Standing outside her official residence at No. 10 Downing Street in London, ...

Dubai / WAM Dubai Internet City (DIC) affirmed its role as enabling platform for entrepreneurs and small and medium-sized enterprises (SMEs) at the 20th edition of TECOM SME Builder. The event, organised by the information technology park, brought together over 100 professionals who discussed the secrets of successful entrepreneurship with a focus on how best to harness business opportunities. Ammar ...

RIYADH / WAM The Gulf Cooperation Council for Arab States’ (GCC) Unified Selective Excise Tax and the Unified Value Added Tax (VAT) agreements, have come into effect after ratification by the UAE. The General Secretariat of the (GCC) has received the UAE’s ratification documents for the two agreements. In a statement, the Secretariat, said, “The UAE is the second State ...

ABU DHABI / WAM The mood of affluent investors in the UAE market has improved as compared to the last year, according to the First Abu Dhabi Bank’s index measuring impression of wealth holders. The index rose by 1.87 percent to 1038.28 points from 1019.13 points in April 2016, reflecting the positive mood prevailing toward country’s business environment. The index ...

Baku / WAM The UAE and Azerbaijan have confirmed the strength of their bilateral relations and stressed the importance of promoting co-operation in all economic, tourism, agricultural, health and transportation fields, as well as investments, petrochemical industries and financial and banking services. This was stated in a joint statement issued by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council of Abu Dhabi, issued a resolution reshuffling the Emirates Foundation Board, with HH Sheikh Abdullah bin Zayed Al Nahyan as Chairman. The resolution names HH Sheikh Dhyiab bin Mohamed ...

Abu Dhabi / WAM As part of its endeavours to enhance economic communications with economic development partners, Abu Dhabi Department of Economic Development (ADDED) on Tuesday organised the “Economic Development Partners – Abu Dhabi Plan” Forum with more than participating 40 local and federal government entities. The forum is aimed to facilitate the implementation of projects and initiatives under the ...