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DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, enacted a new DIFC Intellectual Property Law, Law No. 4 of 2019, Dubai International Financial Centre (DIFC), the world’s eighth ranked international financial centre and the number one financial hub in the Middle East, ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, attended the official opening ceremony of the Social Housing Project in the Seychelles. ADFD allocated $9 million (AED33 million) towards the strategic venture that spans three residential areas on Mahé – the largest and most populated island in the archipelago. Aimed at ...

Dubai / WAM The Mohammed bin Rashid Fund (MBRF), of Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME), sector, and First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, have formed a partnership to launch a new receivable financing programme for Emirati- owned ...

Bloomberg Alibaba Group Holding Ltd has raised about HK$88 billion ($11.2 billion) in its Hong Kong share sale, marking the biggest equity offering in the financial hub since 2010. The company confirmed that it has priced 500 million new shares at HK$176 each in a statement. The price represents a 2.9% discount to the last close of Alibaba’s American depository ...

Bloomberg India is planning to offer 324 companies including Tesla Inc and GlaxoSmithKline Plc incentives to set up factories in the South Asian nation in a bid to capitalise from the trade war between China and the US, according to a document seen by Bloomberg. The government proposes to provide the manufacturers land to set up a factory along with ...

Bloomberg Donald Trump’s effort to tout US economic growth will clash with his trade war when he visits an Apple Inc factory in Texas, where Tim Cook will probably plead in-person to keep Macs and iPhones free from tariffs. Trump’s visit to the Austin factory, where Apple contractor Flex Ltd assembles some of the company’s laptops, is intended to highlight ...

Bloomberg Italy and France are at risk of breaching European Union (EU) spending rules, the bloc’s executive arm said, warning that only countries with a healthy budget position should be pushing expansionary policies. In a set of assessments, the European Commission said the 2020 spending plans of eight countries are “at risk of non-compliance.” In addition to France and Italy, ...

Bloomberg Artificial intelligence (AI) is coming for America’s high-paid professions as it creates winners and losers across the labour market like never before. White-collar jobs and better-educated occupations along with production workers are among the most susceptible to AI’s spread into the economy, according to a Brookings Institution report that draws on a new analysis of patent data by a ...

Bloomberg The US Senate unanimously passed a bill aimed at supporting protesters in Hong Kong and warning China against a violent suppression of the demonstrations — drawing a rebuke from Beijing. China reiterated on Wednesday a threat to impose unspecified retaliation if the bill became law and urged the US to stop meddling in Hong Kong affairs. Separately, the city’s ...

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, recognised the winners of the 2019 REACH Awards on Tuesday at a ceremony held during the Reaching the Last Mile Forum in Abu Dhabi. Established by the Crown Prince of Abu Dhabi, the biennial ...