Gujarat /Â WAM Dr Rashid Ahmed Bin Fahad, UAE Minister of State, discussed ways to enhance economic ties, expand areas of cooperation and raise bilateral trade and investments with Narendra Modi, the Indian Prime Minister, during a meeting held on the sidelines of the visit of a high-level delegation from the UAE to India headed by Dr. Bin Fahad. The ...
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Shurooq, Dubai SME partner to drive SME sector growth
Sharjah / Emirates Business As part of its strategy to enhance cooperation with government departments in advancing business and entrepreneurship, the Sharjah Investment and Development Authority (Shurooq) has signed a ground-breaking Memorandum of Understanding (MoU) with Dubai SME, the agency of the Department of Economic Development in Dubai mandated to develop the small and medium enterprise (SME) sector. Under ...
Read More »Trump flays intelligence agencies for ‘unsubstantiated’ news leak
Bloomberg US intelligence officials have informed President-elect Donald Trump about unsubstantiated reports they’ve received that the Russian government had compiled potentially damaging personal and financial information on him, a person familiar with the situation said. CNN reported earlier on Tuesday that as part of a briefing on Russian attempts to meddle in the presidential election, US spy chiefs included ...
Read More »Samsung’s Lee summoned in S Korea bribery probe
Bloomberg Special prosecutors called Samsung Electronics Co. Vice Chairman Jay Y. Lee for questioning as a suspect in a bribery investigation, deepening an influence-peddling scandal that has already led to the impeachment of South Korea’s president. The de facto head of the Samsung Group was summoned to appear at 9:30 a.m. in Seoul on Thursday, special prosecution spokesman Lee ...
Read More »Smog-choked China to boost LNG imports for cleaner air
Bloomberg China is becoming more dependent on overseas natural gas as it seeks to wean itself off coal and avoid the toxic smog that suffocates the country every winter. The world’s largest energy user will increase imports of liquefied natural gas about 30 percent this year as domestic production stagnates and the government pushes cleaner fuels in an effort ...
Read More »German economy gets head start in year of political turmoil
Bloomberg The German economy is getting some wind in its sails just as the waters are about to get rough. The nation, the first of the world’s biggest developed economies to report on its 2016 performance, probably achieved expansion of 1.8 percent, helped by a pickup toward the end of the year. The German result, forecast by economists surveyed ...
Read More »VW board set to sign off on $4.3billion US diesel penalty
Bloomberg Volkswagen AG’s supervisory board is set to sign off on a $4.3 billion settlement of US criminal and civil penalties for rigging diesel-powered cars to cheat on emissions tests, the latest step in the carmaker’s effort to resolve the scandal. The agreement with the US Department of Justice and customs authorities will include a guilty plea, Wolfsburg, Germany-based ...
Read More »Venezuela GDP takes 10% hit: IMF
Bloomberg Venezuelans have to navigate a labyrinth of lines to buy staples like sugar or aspirin. They’ve gotten used to finding that the store shelves are empty, a frustration that sometimes boils over into looting. So they don’t really need economic data to tell them that 2016 was a terrible year. Still, when and if the numbers do come ...
Read More »Arctic cold leaves southeast European towns without electricity
Bloomberg Arctic chill and heavy snowfall left tens of thousands of households in southeastern Europe without electricity as rivers froze over, cables failed and power stations had unplanned outages. From Greece to Hungary, hydroelectric production plummeted as temperatures fell as low as minus 20 degrees Celsius (minus 4 Fahrenheit) and parts of the Danube river were almost entirely covered ...
Read More »DIFC launches region’s first fintech accelerator in Dubai
Dubai / WAM Dubai International Financial Centre (DIFC) the financial hub of the Middle East, Africa and South Asia (MEASA) region, announced on Tuesday the launch of the region’s first fintech accelerator in Dubai. Set to be operational in the first quarter of 2017, the FinTech Hive at DIFC will introduce cutting-edge financial services technologies to the MEASA markets while ...
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