News

  Dubai / WAM Dubai Customs is taking part in various categories of the 4th edition of Hamdan Bin Mohammed Award for Smart Government (HbMPSG), organised by ‘Dubai the Model Centre’, a subsidiary of the General Secretariat of the Executive Council. A host of smart, customer-focussed initiatives will make Dubai Customs’ submissions salient and stand out this year. Such initiatives stem ...

  Dubai / Emirates Business DAMAC Properties, one of the region’s largest luxury real estate developers, bagged four awards at the Africa and Arabia Property Awards hosted in Dubai, reaffirming its position as an award-winning developer of distinctive and cutting edge luxury properties. It was also nominated twice for the global International Property Awards to be held in London, UK, ...

  Dubai / WAM The Roads and Transport Authority (RTA) is gearing up for the launch of the final version of the Smart Fare project to the public in October this year, having gone through the trial version this September. Accordingly, new services will be added to the Public Transport App, and the smart services on the app will be upgraded ...

Dubai / Emirates Business Dubai Investments Park (DIP), the largest integrated commercial, industrial and residential community in the Middle East, has signed an agreement with MWH, now part of Stantec and a global leader in wet infrastructure, to design a new stormwater and groundwater drainage network within the development. The scope of the agreement covers the design of the drainage ...

  Hong Kong / AFP The Asian Development Bank (ADB) said on Tuesday that growth across the region was holding stable despite global headwinds, with resilience in China and India keeping it on track. GDP for developing Asia is predicted to grow 5.7 percent in 2016 and 2017, according to the bank’s latest report — down slightly from 5.9 percent ...

  Bloomberg Profits of China’s industrial corporations jumped the most in three years, adding to evidence of continued stabilization in manufacturing and boosting prospects for their ability to repay debt. Industrial profits rose 19.5 percent in August from a year earlier to 534.8 billion yuan ($80.2 billion), the National Bureau of Statistics said Tuesday. That completes August data that showed ...

  Singapore / AFP Singapore must take more aggressive action against complex cross-border money-laundering including prosecuting individuals and seizing illicit proceeds, a global financial crimes watchdog said on Tuesday. The Paris-based Financial Action Task Force (FATF) said in a review the city-state has made significant improvements in its anti-money laundering and counter-terrorist financing framework since the last assessment in 2008. ...

  Bloomberg Typhoon Megi lashed Taiwan with wind and rain on Tuesday, bringing 20-foot-high waves and knocking pedestrians off their feet in Taipei. More than 280,000 households lost electricity, state-owned utility Taiwan Power said on its website. About 5,000 people were evacuated, according to the island’s National Fire Agency. The capital city of Taipei shut markets, schools and offices, along ...

  Bloomberg Indian power producer Lanco Infratech Ltd. expects to start the process to sell its assets in six months to raise an estimated 70 billion rupees ($1 billion) to repay debt. “For now we are focused on completing the projects, because that will bring us value when we sell them,” T. Adi Babu, Lanco’s chief operating officer for finance, ...

  Hanoi / AFP Hundreds of fishermen in central Vietnam have filed lawsuits demanding more compensation from a Taiwanese firm accused of dumping toxic waste in the ocean that killed tonnes of fish, activists said on Tuesday. The mass fish deaths in April ravaged livelihoods in communities along the central coast, where fishing is the main source of income. In ...