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DUBAI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of Dubai Islamic Economy Development Centre (DIEDC), on Monday announced that Islamic economy generates 8.3 percent of Dubai’s gross domestic product (GDP), according to Dubai Statistics Centre, a strategic partner of DIEDC. Al Mansouri shared the statistics, mapping the contribution of key sectors – Islamic finance, manufacturing ...

RIGA / WAM The UAE is a strategic partner for Latvia which can serve as a gateway enabling Latvian companies to expand their presence in the GCC, Latvian President Raimonds Vejonis said during his meeting with a UAE trade delegation in Riga, led by the Dubai Chamber of Commerce and Industry. During the meeting, Vejonis said Latvian companies can benefit ...

Dubai / WAM Dozens of innovations, ranging from agricultural initiatives that empower women and farmers to novel products that could combat desertification or plastic waste, are among the latest to receive a major boost from global social impact programme, Expo Live, run by organisers of the next World Expo, Expo 2020 Dubai. Twenty-six projects from 22 countries have been selected ...

Bloomberg Fifty-two Palestinians were killed in confrontations with Israeli troops after tens of thousands converged on the Gaza Strip border in a violent protest, throwing a pall over President Donald Trump’s contentious inauguration of a US embassy in Jerusalem. It was the deadliest day in Hamas-run Gaza since Israel warred with protesters there in 2014. Hundreds were also wounded by ...

Bloomberg The US and China signalled a desire to avoid a costly trade war after President Donald Trump offered a lifeline to beleaguered telecom equipment maker ZTE Corp. and China’s Xi Jinping dispatched his top economic adviser to Washington. Vice Premier Liu He — who is Xi’s top aide for economic matters — was expected to travel on Tuesday to ...

Bloomberg India’s new bankruptcy law is being bogged down by bitter court room disputes that include the likes of ArcelorMittal and the Tata Group — jeopardising the law’s promise of time-bound resolution in a country famous for its sluggish legal system. None of the 12 large debtor companies that the central bank forced into bankruptcy court in June have been ...

Bloomberg Xerox Corp. called off a $6.1 billion takeover by Fujifilm Holdings Corp. and parted ways with its chief executive officer, handing a major victory to activist investors Carl Icahn and Darwin Deason. In an agreement with the two investors, which together own about 13 percent of Xerox, the US office equipment supplier said CEO Jeff Jacobson will step down ...

Bloomberg The UK’s biggest bond mutual fund is shifting money to the other side of the Atlantic as the interest-rate gap between Europe and the US widens to record levels. M&G Limited has boosted US holdings in its 23.4 billion pound ($32 billion) Optimal Income Fund this year to more than a third at the expense of positions in French, ...

Bloomberg Suitsupply is suiting up for expansion. The Dutch menswear seller may not yet be a household name outside of the millennial circuit, but it’s spending heavily to change that. It’s gone on a hiring spree to fill its senior ranks — including former executives from Bank of America to Tory Burch — and mapped out a plan for international ...

Abu Dhabi / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, attended the Adnoc Downstream Investment Forum in Abu Dhabi on Sunday. The event brought together more than 40 leading global energy, petrochemical and other industry CEOs and 800 senior business leaders as ADNOC outlined its new downstream strategy and plans ...