News

  Bloomberg The US economy should be able to weather President Donald Trump’s temporary travel ban, economists say, though any broadening of immigration and visa restrictions could hurt the labor force and productivity. Two-thirds of economists surveyed by Bloomberg said the ban, which has for the moment been temporarily suspended by the courts, will have “little to no effect” on ...

  AP European Union finance ministers agreed on Tuesday to new rules aimed at preventing multinational companies from exploiting differences in tax rates between countries in the 28-country EU and those outside the bloc. At a meeting in Brussels, ministers backed the new rules, which will target various practices whereby large corporations can take advan-tage of loopholes between the tax ...

  Bloomberg US utility owners from Duke Energy Corp. to NextEra Energy Inc. are warning investors that their earnings may take a hit from tax reforms being floated in Washington. At risk is a provision corporations have enjoyed for years. It gives utilities the right to deduct what can be considerable tax expenses because of the billions of dollars of ...

  Bloomberg Chancellor of the Exchequer Philip Hammond received a pre-budget boost as Britain posted the biggest surplus for any January since at least 2001. The 9.4 billion-pound ($11.7 billion) surplus compared with 9.1 billion pounds a year earlier, the Office for National Statistics said Tuesday. Revenue rose 5.3 percent and spending increased 5.4 percent. The figures are restated going ...

  Abu Dhabi / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on Monday officially inaugurated Al Hili, the sixth and the latest Baynunah-class corvette built by Abu Dhabi Ship Building (ADSB) for the UAE Navy, in a ceremony held at NAVDEX, the naval defence and maritime security ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (ADNOC), signed on Monday an agreement with the CEFC China Energy Company Limited (CEFC China), awarding it the final 4% interest in Abu Dhabi’s onshore oil concession. CEFC contributed a sign-up bonus of AED 3.3 billion ($888 million) to enter the concession. The onshore concession is operated by the Abu Dhabi ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, has issued a Resolution to establish the Khalifa University of Science and Technology. The Decree renames the university as “Khalifa University of Science and Technology”. The new entity will have an independent legal personality, financial and administrative independence, and full ...

  Dubai / WAM A number of beverage industry shows and events are lined up to take place in Dubai next month, which will highlight the latest trending technologies, products and services in this burgeoning industry. The ninth edition of the Dubai Drink Technology Expo, #DDTE2017, takes place from March, 7-9 at the Dubai International Convention and Exhibition Centre. This year, ...

  Dubai / WAM Dubai Chamber of Commerce and Industry will host an award ceremony on Tuesday to honour the winners of the 9th cycle of the Mohammed bin Rashid Al Maktoum, MRM, Business Award, and the 1st cycle of the MRM Business Innovation Award. The ceremony will be attended by dignitaries, distinguished local and international top executives and business leaders. ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) and the Federal Electricity and Water Authority (FEWA) have signed an agreement to adopt the e-Dirham system to enable FEWA to receive service fees electronically. The agreement aims to enhance FEWA’s efforts to facilitate the collection process for its clients which will increase customer satisfaction and strengthen its institutional work. The ...