News

  Bloomberg China’s official factory gauge unexpectedly rose last month to the highest level in almost two years, suggesting the economy’s stabilization remains intact and that a weakening in July was flood-related and temporary. Manufacturing purchasing managers index rose to 50.4 in August from July’s 49.9 and compared to the 49.8 median estimate of economists surveyed by Bloomberg. Non-manufacturing PMI ...

  Bloomberg The strength of Australia’s jobs market is being overstated by a surge in casual positions and an inability by workers to secure more hours. While the unemployment rate fell to 5.7 percent in July from 6.3 percent a year earlier, 87 percent of the jobs created in that period were part-time: a definition that covers anything from 1 ...

  DUBAI / WAM The Dubai Chamber of Commerce and Industry (DCCI), will co-ordinate over 100 bilateral meetings between the European Union (EU) and Dubai businessmen on the sidelines of the EU delegation’s visit to the emirate on September 6. The EU business delegation is led by Peter Bishop, Deputy Chief of London Chamber, and includes over 51 business leaders ...

  TOKYO/ WAM Data released by Tokyo’s Agency for Natural Resources and Energy, ANRE, has shown that Japan imported 25.47mn barrels of crude oil from the UAE in July. This accounted for 26.1% of Japan’s total crude imports, the agency, which is part of Japan’s Ministry of Economy, Trade and Industry, said. Saudi Arabia provided 32.89 million barrels, or 33.7% ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received on Wednesday a telephone call from US Secretary of State John Kerry. During the phone call, they discussed friendship and co-operation between the UAE and the United States, and ways to enhance ...

  Dubai / EMIRATES BUSINESS Azizi Developments, a leading UAE-based real estate developer with global reach into international markets, completed the official handover to owners of its Dubai-based property development – Azizi Yasamine Residence, in Al Furjan. Azizi Yasamine Residence is a 12-storey property that boasts a mix of one to three-bedroom apartments.

  DUBAI / WAM The UAE has maintained its 12th global ranking in the Information and Communications Technology (ICT) index, one of the key indicators included in the 2016 Global Innovation Index (GII) revealed earlier this week. The country topped the Arab nations and placed 41st worldwide in overall performance. The TRA undertakes the responsibility to provide the best technologies for ...

  Dubai / EMIRATES BUSINESS HE Sami Al Qamzi, Director General of the Dubai Department of Economic Development and Anan Fakhreddin, CEO of Damas, opened the Damas state-of-the-art production facility in Dubai on Wednesday. The factory opening represents a quantum leap in line with the company’s growth and market expansion strategy.

  DUBAI / WAM Jebel Ali Free Zone (Jafza) launched a business centre at Jafza One, offering state-of-the-art office space to companies at competitive prices. Ibrahim Mohammed Aljanahi, Deputy CEO and Chief Commercial Officer of Jafza, inaugurated the business centre in the presence of Kory Thompson, Country Manager UAE, Oman and Kuwait. The centre, which is managed by Regus, a ...

  Dubai / WAM Dubai International Financial Centre (DIFC), has recorded strong growth in H1, 2016, becoming the number one financial centre in the Middle East and Africa, with 143 new companies licensed, including 39 leading financial firms. The DIFC has registered significant growth in workforce to over 21,000 professionals across more than 1,500 firms and continued infrastructure development including launch ...