News

‘India’s growth will rebound after cash ban’

  Bloomberg India’s growth will bounce back after a sharp slowdown triggered by Prime Minister Narendra Modi’s clampdown on cash, said central bank Governor Urjit Patel. “Almost everyone agrees that the impact is going to be a sharp ‘V,’ that we would have a downgrade of growth for a short period of time,” Patel told CNBC-TV18 in an interview telecast ...

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Coal-loving Indonesia investor doubles down after 39% gain

  Bloomberg Indonesian stock fund manager Agus Yanuar has trounced his peers and the Jakarta Composite Index over the past year by riding a rebound in commodity prices. Now, the chief investment officer at PT Samuel Aset Manajemen says he’s sticking to his guns. Yanuar’s SAM Indonesian Equity Fund has returned 39 percent in 12 months, more than double its ...

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S’pore tourism slumps

  Bloomberg Singapore forecasts slower growth in tourist arrivals this year, citing global economic and political uncertainties and stiffer competition from neighbors in the region. Visitors may increase zero percent to 2 percent in 2017, according to the Singapore Tourism Board. Growth was 7.7 percent last year with a record 16.4 million tourists led by visitors from China, India and ...

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MoF, Burundi ink deal on avoidance of double taxation, investment protection

  ABU DHABI / WAM The Ministry of Finance (MoF) signed two final agreements on the avoidance of double taxation and the protection and promotion of investment with Burundi. The agreements came as part of the Ministry’s strategy to expand its international relations and to protect and promote Emirati investments. The agreement was signed by Obaid Humaid Al Tayer, Minister ...

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DFM’s UAE listed firms show 100% compliance

  Dubai / WAM Dubai Financial Market (DFM) announced on Thursday that its UAE listed companies have shown a 100% compliance to disclose their preliminary results for the financial year 2016 within the deadline of 45 days from the end of the year in line with the regulations of the Securities and Commodities Authority (SCA). As much as 48 UAE ...

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Strategic partners top priority for Dubai Airports 2017-2025 plan

  Dubai / WAM Strategic partners are on top of Dubai Airports priorities regarding its strategic plan 2017-2025 to achieve their aspirations of making Dubai International Airport an international model in service and satisfying customers in compliance with the UAE government’s directives, said Majed Al Joker, Senior Vice President of Dubai Airports for Corporate Assurance and Governance. Al Joker praised the ...

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ADGM, MFSA ink MoU on regulatory coop

  Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) and the Malta Financial Services Authority (MFSA) have signed a Memorandum of Understanding to reinforce regulatory cooperation for the supervision of financial institutions, to facilitate joint collaboration and exchange of information as well as support cross border activities. The MoU was signed on February, 2 by Joseph V. Bannister, Chairman of ...

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Mohammed issues decree on formation of Dubai World Board

  Dubai / WAM Vice President, Prime Minister, His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, issued Decree No. (3) of 2017 on the formation of the Board of Directors of Dubai World under the chairmanship of His Highness Sheikh Ahmed bin Saeed Al Maktoum. The new board includes Mohammad Ibrahim Al Shaibani, ...

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Trade of pearls and precious stones in Abu Dhabi hit AED13.3bn

  Abu Dhabi / WAM The total trade in Abu Dhabi of pearls, precious stones and precious metals reached AED13.3 billion during the first 11 months of 2016, according to the most recent statistics on non-oil-related commodities from its land, sea and airports. According to traders in the sector, the trade increase in pearls, precious stones and precious metals reflected the ...

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NAVDEX 2017 to run from Feb 19-23

  Dubai / WAM The 13th edition of the International Defence Exhibition and Conference (IDEX 2017) and the fourth edition of the Naval Defence Exhibition (NAVDEX 2017) are set to draw the participation of 1,235 specialised local and international companies in the defence industry. This represents a three per cent growth compared to 2015, when 1,200 companies attended. Organised under the ...

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