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DUBAI / WAM Jebel Ali Free Zone Authority (Jafza) has signed a Memorandum of Understanding (MoU) with Dubai Courts for establishing a ‘Virtual Reality Smart Court’ to handle labour litigations involving companies operating from the Free Zone and its business units. A dedicated chamber for the “Smart Court” will be established at the Free Zone to conduct hearings and adjudicate ...

Dubai / Emirates Business Emaar Development, the UAE build-to-sell property development business majority-owned by Emaar Properties, has recorded an impressive growth in the sale of its residential property launches in Dubai to AED9.350 billion ($2.546 billion), an increase of 50 percent compared to the H1 2018 sales of AED6.234 billion ($1.697 billion). Emaar Development launched 16 new projects during the ...

DUBAI / WAM The Mohammed bin Rashid Space Centre (MBRSC) announced that Hazzaa Al Mansoori, the UAE’s first astronaut to travel to the International Space Station (ISS) on September 25, will host a traditional Emirati food night at the station. Al Mansoori will be dressed in the traditional Emirati clothes, and will offer his fellow astronauts three Emirati foods — ...

Bloomberg China responded to Donald Trump’s tariff threat with another escalation of the trade war on Monday, letting the yuan tumble to the weakest level in more than a decade and asking state-owned companies to suspend imports of US agricultural products. The moves are likely to further antagonise Trump, who has criticised Beijing for managing its currency unfairly and failing ...

Bloomberg Top Japanese companies including Sony Corp., Ricoh Co. and Asics Corp. are orchestrating shifts in production away from China, joining manufacturers from other countries seeking to sidestep US tariffs. Sony said last week that trade-war levies may cause it to raise prices or move production of PlayStation consoles, cameras and projectors outside of China, steps that could affect profit ...

Bloomberg UK government bonds rallied, driving benchmark yields to a record low, as global risk sentiment worsened and speculation swirled that the nation’s new Prime Minister is preparing for a general election. Ten-year gilt yields slipped below 0.5% for the first time on a potential increase in UK political uncertainty, with Premier Boris Johnson’s spending plans fueling speculation about a ...

Bloomberg Economic activity in the euro area’s private sector weakened further as still-solid services couldn’t make up for rapidly deteriorating manufacturing. A composite Purchasing Managers’ Index (PMI) dropped to 51.5 in July, with goods output falling for a sixth months and at the greatest extent since 2013. “The service sector continued to sustain the expansion of the overall euro-zone economy ...

Bloomberg High ranking officials in the Trump administration are still pushing to bail out money-losing coal plants, more than a year after an earlier proposal to revive the industry failed. Any new effort to save coal plants may find a friend in Kentucky Republican Neil Chatterjee, now chairman of the Federal Energy Regulatory Commission, the very agency that rejected the ...

Bloomberg India has revoked the special constitutional status of Kashmir in a move that’s drawn protests in parliament and risks worsening its already fraught security relationship with rival Pakistan in the disputed region. It took Prime Minister Narendra Modi’s government just a couple of hours to erase seven decades of autonomous state government in Kashmir, which analysts say is aimed ...

Abu Dhabi / WAM Abu Dhabi’s hotels have posted remarkable year-on-year growth in the second quarter of 2019, with hotel guest numbers reaching a record 1.2 million for the April to June period, a 6.8 percent increase from the same period in 2018. The latest report from the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) also ...