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DUBAI / WAM The number of branches of foreign companies operating in Dubai has increased to 1,985 while the number of branches of GCC companies is 833, according to a report by the Business Registration and Licensing (BRL), sector in the emirate’s Department of Economic Development (DED). “These figures reflect the attractiveness of the emirate globally as well as regionally, ...

Abu Dhabi / WAM The Khalifa Fund for Enterprise Development (KFED), signed a Memorandum of Understanding (MoU), with the Central Bank of the UAE which will enable the fund to employ the direct debit system of the Central Bank and receive payment from its’ entrepreneurs directly from their accounts in any bank which operates within the UAE. The agreement was signed by ...

Bloomberg The Indian government’s $8.7 billion purchase of French warplanes was cheaper than a bid negotiated under the previous government, the country’s auditor said, potentially weakening an opposition campaign alleging corruption ahead of federal polls. Prime Minister Narendra Modi bought 36 Rafale fighters in 2015 from Dassault Aviation SA at 2.86 percent lower than the price negotiated by the former ...

Bloomberg The yuan is entering a critical period after posting its second-best monthly advance ever, with analysts sounding caution as a new round of China-US trade talks gets underway. The Chinese currency could head to 7 per dollar if there’s a breakdown in the negotiations, while an agreement on no additional tariffs will send it on a sustained rally, Citigroup ...

Bloomberg US nuclear energy developers met with President Donald Trump and asked for help winning contracts to build power plants in the Middle East and elsewhere overseas. “There is competition around the globe, and we want to be part of it,” said Chris Crane, the chief executive officer of Exelon Corp., the largest US operator of nuclear plants, following the ...

Bloomberg T-Mobile US Inc. Chief Executive Officer John Legere says his company doesn’t use equipment from Huawei Technologies Co., and won’t after buying Sprint Corp. to form a bigger No. 3 in the US wireless market. “Let me be clear —we do not use Huawei or ZTE network equipment in any area of our network. Period. And we will never ...

Bloomberg European Union negotiators agreed on new natural-gas rules that preserve a concession to Germany over its controversial plan to import more of the fuel from Russia. Representatives of EU governments and the European Parliament approved a revision to gas-market legislation while scaling back hurdles for the planned Nord Stream 2 pipeline. The deal in Strasbourg, France, keeps intact a ...

Bloomberg The commander of US forces in South Korea cited a “palpable” decline in tensions amid US-North Korean peace talks but cautioned there’s little evidence that Kim Jong- un is willing to give up his nuclear arsenal. “Today is Day 440 since the last strategic provocation” by North Korea through a missile or nuclear test, Army General Robert Abrams told ...

DUBAI / WAM The Vice President, Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, witnessed a session presented by His Highness Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, titled, “Journey of Wisdom” during the 7th World Government Summit. During his speech, Sheikh Saif ...

Dubai / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has visited the 2019 World Government Summit hosted in Dubai. The three-day forum has seen the participation of over 4,000 heads of state, government, ministers, officials, and experts representing some 140 countries. During the visit, ...