News

  Bloomberg Even as Uber Technologies Inc. exited China, the company’s financial loss has remained eye-popping. In the first nine months of this year, the ride-hailing company lost significantly more than $2.2 billion, according to a person familiar with the matter. In the third quarter, Uber lost more than $800 million, not including its Chinese operation. At the same time, ...

  Bloomberg A lawsuit filed by Alibaba Group Holding Ltd. is shining a light on the fake reviews and purchases on its websites. China’s biggest e-commerce operator sued Shatui.com, which allegedly links merchants with people willing to falsify purchases and write positive comments that can drive sellers up Alibaba’s rankings. The suit in Hangzhou West Lake District People’s Court is ...

  ABU DHABI / WAM The value of shares bought by foreign investors registered at the Abu Dhabi Securities Exchange in November 2016, amounted to AED2.97 billion, constituting 48.3 per cent of the total trading value. Meanwhile, foreign investors sell value during the same period reached AED2.9 billion, constituting 48.5 per cent of total turnover. As a result, net foreign ...

  ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) received a visiting ministerial delegation from the United Republic of Tanzania at its headquarters. At the meeting, Adel Al Hosani, Director of ADFD’s Operations Department, discussed the fund’s current and upcoming socio-economic deve- lopment ventures in Tanzania with Makame Mbarawa, Tanzanian Minister of Works, Transport and Communication. Both parties ...

  DUBAI / WAM In another remarkable first for Dubai South and the country, the VIP Terminal at Dubai South, the largest purpose-built facility of its kind in the world, has been inaugurated. The terminal is poised to be a game-changer in the business aviation sector, offering VIP customers a seamless travel experience, coupled with time and cost efficiencies within ...

  Dubai / WAM Crown Prince of Dubai and Chairman of Dubai Executive Council, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, on Monday reviewed the results of the fourth Dubai Social Survey conducted by Dubai’s Community Development Authority (CDA) in collaboration with Dubai Statistics Centre (DSC). The survey, which sampled 15,165 individuals, including 9,709 Emiratis, measures current levels of ...

  Abu Dhabi / WAM From April 2015 to November 2016, the United Arab Emirates provided nearly AED6 billion (US$1.6 billion) in foreign aid to Yemen as part of its efforts to provide development, security, stability and peace in Yemen. The assistance, offered in line with the UAE’s humanitarian and development response towards the crisis in Yemen, covered three sectors, mainly ...

  Dubai / WAM The Ministry of Finance (MoF) in collaboration with the Organisation for Economic Cooperation and Development (OECD) is currently holding a workshop entitled, “Practical Application of Recent Tax Treaty Developments”, from the December 19-21 in Dubai. Monday’s session was attended by a number of international experts and specialists from economic, tax and exchange of information fields, including Indonesia, ...

  Abu Dhabi / WAM Steps have been taken to certify those employees working in the cosmetics field to assure they have basic knowledge about health issues related to cosmetics. The Abu Dhabi Quality and Conformity Council – the authority in charge of developing infrastructure according to quality standards in Abu Dhabi – has launched a conformity programme for personnel services, ...

  Dubai / WAM More steps are being taken in Dubai to closely monitor laws and programmes designed to assure that Dubai and the UAE becomes a leading country in guaranteeing the rights of the disabled. Sheikh Mansour bin Mohammed bin Rashed Al Maktoum, Chairman of the Higher Committee for the Protection of the Rights of Persons with Disabilities, reiterated the ...