BLOOMBERG India’s parliament removed a tax concession for debt funds, stirring concern in the mutual fund industry that the measure would turn away investors. Holders of some bond funds will no longer be able to apply a long-term capital gains tax rate, according to a finance bill amendment. Instead, they’ll have to pay based on their own income tax rate, ...

BLOOMBERG Apple Inc Chief Executive Officer Tim Cook returned to China to attend the high-profile China Development Forum to celebrate the iPhonemaker’s ties to the region even as tensions grow between Beijing and Washington. Apple and China have grown together, Cook said during an onstage discussion on technology and education at the state-sponsored showcase. He highlighted the company’s concerns about ...

DUBAI / GULF TIME For over a decade, Hale has helped over 1,500 UAE students achieve their fullest potential through acceptances to over 175 US and Canadian universities, including all eight Ivy League universities, and secure nearly $50 million in scholarships. The Class of 2023 began the academic year with a mixed bag of emotions brimming with anxiety, anticipation, and ...

DUBAI / GULF TIME Response Plus Holding PJSC (RPM),  a leading healthcare provider of emergency medical services, remote healthcare services and occupational health solutions in the United Arab Emirates – received four Stevie Awards, including a GOLD Stevie Award for Innovative Management in the Healthcare Industry for organisations with 100 or more employees, in the fourth annual Middle East & ...

ABU DHABI / WAM The Sheikh Zayed Housing Programme (SZHP), an initiative under the Ministry of Energy and Infrastructure (MoEI), has issued 432 decisions for housing aid valued at AED298.7 million. This includes applications for house construction, completion, purchase, maintenance, and upgrade. The move is part of the Initiatives of the UAE President and is pursuant to the order of ...

BEIJING / WAM / AGENCIES Saudi Arabia’s Aramco expressed its intention to be an all-inclusive source of energy and chemicals for China’s long-term energy security and China’s high- quality development. Amin H Nasser, Aramco President and CEO, told the China Development Forum 2023 that the company is doubling down on China’s energy supply, including new lower carbon products; chemicals; and ...

DUBAI / WAM DP World has invested more than $10 billion (AED37.3 billion) in the global logistics sector since 2012, making it one of the top five overseas investors in this period, according to the latest foreign direct investment (FDI) data released by leading industry consultants. The FT’s FDI Intelligence recently published its top five list for 2022, which ranks ...

DUBAI / WAM Mariam bint Mohammed Almheiri, the Minister of Climate Change and Environment, emphasised the importance of collaboration, data sharing and investment in achieving global solutions for promoting water sustainability in an interactive dialogue and side sessions at the United Nations in New York. The UN 2023 Water Conference brought together global leaders and experts to identify innovative solutions ...

BLOOMBERG President Vladimir Putin said Russia is preparing to station tactical nuclear weapons in neighbouring Belarus, escalating a confrontation with the US and its allies over the war in Ukraine. Moscow isn’t handing control of the weapons to Belarus, and won’t be in breach of its non-proliferation obligations under an agreement with Belarusian President Alexander Lukashenko, Putin said in comments ...

BLOOMBERG Indian opposition leader Rahul Gandhi said he will keep questioning Prime Minister Narendra Modi’s close ties with tycoon Gautam Adani even after being disqualified as a member of parliament. “I am here defending the democratic voice of the Indian people. I will continue to do that,” Gandhi said at a press conference in New Delhi. “I have been disqualified ...