Uncategorized

Dubai / WAM The Dubai Free Zones (DFZ) Council discussed in its 9th meeting on Sunday initiatives to promote foreign direct investment (FDI), flows to the emirate’s free zones. Key items on the agenda included easing the business set-up and reducing fees in the free zones, the new e-commerce regulations, the assessment of the effectiveness of measures related to anti-money ...

Abu Dhabi / WAM Dubai Municipality and the UAE Food Bank have signed a special partnership agreement with Careem, a transportation network company, for the adoption of a community initiative. Under the special sponsorship agreement, Careem will provide food collection and delivery services during the Holy Month of Ramadan, and on specific days. The logistics company will collect surplus food ...

Bloomberg The US and China’s on-again, off-again trade dispute is casting a shadow over Asia-Pacific nations’ efforts to further open up global trade, a senior Australian government official said. Delegates at an Asia-Pacific Economic Cooperation forum in Port Moresby this weekend pledged to keep pursuing a free and fair international trading regime, in the face of rising protectionist sentiment. The ...

Bloomberg Profit growth at Chinese industrial companies accelerated, snapping a streak of slowing expansion since October, as factory output remained robust. Industrial profits advanced 21.9 percent in April from a year earlier, versus a 3.1 percent increase in March and 16.1 percent in January and February combined. Total profits for the month were 576.03 billion yuan ($90.1 billion), the National ...

Bloomberg The Justice Department has opened a criminal probe into whether traders are manipulating the price of Bitcoin and other digital currencies, dramatically ratcheting up US scrutiny of red-hot markets that critics say are rife with misconduct, according to four people familiar with the matter. The investigation is focussed on illegal practices that can influence prices — such as spoofing, ...

Bloomberg Automakers including Mazda Motor Corp. and countries led by Mexico should buckle up: their car businesses could be in for a bumpy ride, thanks to US President Donald Trump. Trump instructed his Commerce Secretary Wilbur Ross to consider conducting an investigation into whether auto imports are weakening the American economy and may impair national security. The Commerce Department said ...

Bloomberg Consumers may do as much as regulators to propel the car sector into the electricity-powered age foreseen by Tesla Inc., according to the European Union’s industrial-policy chief. European Commissioner Elzbieta Bienkowska said the EU has had a “breakthrough moment” since Germany-based Volkswagen AG admitted in 2015 that it fitted diesel engines with software to cheat US checks on smog-causing ...

Bloomberg US President Donald Trump said his administration is holding direct talks with North Korea to salvage a summit with Kim Jong Un initially planned for Singapore next month. Trump told reporters that meetings were taking place “as we speak” in an unidentified location to push ahead with the summit, which he abruptly cancelled last week due to “open hostility” ...

ABU DHABI / WAM The Emirates Red Crescent (ERC) has stepped up its Ramadan initiatives in the Year of Zayed, with the aim to assist 11 million persons within the UAE, along with individuals across 79 countries across the world, with a total value of aid reaching AED155,448,000. The ERC is able to continue its aid initiatives during the Holy ...

ADEN / WAM The Emirates Red Crescent (ERC), distributed urgent relief to the poorest areas of Rudum District in Shabwa Governorate, including 550 food baskets. The assistance is in response to an urgent call by the underprivileged in Shabwa to alleviate their suffering, in carrying out the directives of the wise leadership of President His Highness Sheikh Khalifa bin Zayed ...