News

  Bloomberg Chinese authorities are planning not to impose an aggregate quota on trading via the Shenzhen-Hong Kong stock exchange link, according to two people familiar with the matter. Daily trading will still be subject to a cap, the people said. Officials are also considering removing the overall limit for equity trades through Hong Kong’s existing link with Shanghai, one ...

  Bloomberg Indonesia’s tax amnesty could boost industrywide car sales in the country by a fifth as people spend their newly declared wealth on big-ticket items, according to the local unit of Honda Motor Co. “The car ownership ratio in Indonesia is relatively low and there’s enough room for producers to sell more,” Jonfis Fandy, head of sales and marketing ...

  Bloomberg Indonesia will cap Wednesday’s Independence Day celebrations by scuttling as many as 71 impounded foreign vessels —mostly Vietnamese but also a handful of Chinese —to signal its determination to protect its sovereignty over lucrative fishing grounds in the South China Sea. The destruction of the boats comes amid simmering regional tensions over territorial disputes in the water. Former ...

  DUBAI / WAM Dubai Financial Market (DFM) on Monday announced that its 47 UAE-listed companies showed a 100 percent compliance to disclose their Q2- 2016 results within the deadline of 45 days from the end of the quarter. In a statement, the DFM said it submitted a detailed report to the Securities and Commodities Authority (SCA) including the companies’ ...

  DUBAI / WAM Dubai Electricity and Water Authority, (DEWA) announced the installation and launching of the main 400 kilovolt (kV) power transformer, in addition to a number of other projects worth a total cost of AED197 million, at the Hassyan Clean Coal Power Plant. Saeed Mohammed Al Tayer, MD and CEO of DEWA, said, “This project supports the Dubai ...

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan sent a congratulatory cable to Shri Pranab Mukherjee, President of India, on the occasion of his country’s Independence Day. Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown ...

  RAS AL KHAIMAH / WAM Ras Al Khaimah Free Trade Zone (RAK FTZ) and Ras Al Khaimah Investment Authority (RAKIA) have opened submissions for the third RAK Free Zones Business Excellence Awards, set to take place on January 19, 2017. With the commitment to expanding competition and involving more industries, this year’s awards programme will also include the businesses ...

  Abu Dhabi / Emirates Business The UAE showed a significant improvement in its innovation standing on the 2016 Global Innovation Index which was officially launched today at a press conference held at the European headquarters of the United Nations in Geneva, Switzerland. The UAE ranked first among Arab countries and 41st worldwide in terms of overall performance on the ...

  SHARJAH / WAM Sharjah Chamber of Commerce and Industry (SCCI) is allocating 50 new offices, which are fully equipped with facilities and part of the chamber’s Incubate Business Programme recently-launched by Sharjah Economic Excellence Network “ShjSEEN.” The plan aims at providing an inspiring environment for business entrepreneurs, who possess creative ideas and innovative projects to be executed in the UAE, ...

  Abu Dhabi / WAM The Emirates Red Crescent (ERC) is implementing a relief programme to assist people affected people by the floods and rains in Sudan as per the directives of H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in the Western Region and chairman of the foundation. The UAE delegation left the country today heading for Khartoum to ...