Dubai / WAM HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, today announced the launch of the region’s first ‘Virtual Company Licence’, allowing investors worldwide to do business in Dubai digitally without requiring residence and in accordance with the highest international legal standards. The announcement is aligned with the third Article of the 50-Year Charter ...

Dubai / WAM UAE features among the top 10 markets that have rapidly improved their trade growth potential over the past decade, according to a new research from Standard Chartered, the Trade20 Index, which identifies the 20 rising stars of global trade. The Trade20 Index, which determined the potential of each market for trade growth over the past 10 years ...

Bloomberg Saudi Aramco will increase dividend payments and pay less tax as the government tries to secure the $2 trillion valuation targeted by Crown Prince Mohammed bin Salman in the state oil company’s initial public offering (IPO). The state-run company, which produces about 10% of the world’s oil, plans to announce its intention to float later this month with the ...

Bloomberg South Africa is asking independent power producers to lower electricity costs as part of the rescue of Eskom Holdings SOC Ltd., the debt-stricken state utility. Renewable energy project developers will discuss potential solutions ahead of follow-up talks with the government on Friday. The independent power producers and coal companies met with state officials last week, which resulted in an ...

Bloomberg When aluminum demand last contracted during financial crisis and unwanted metal started flooding into warehouses, it took more than a decade to work through the glut. Now, the market is bracing for another sharp rise in inventories as demand growth grinds to a halt. Aluminum has tumbled to a two-and-a-half-year low as slowing global growth and the US-China trade ...

Bloomberg Mozambique expects to get $880 million in capital gains tax from Occidental Petroleum Corp.’s deal to sell its Africa assets to Total SA, the presidency said in a statement. The nation, already cashing in on a liquefied natural gas boom even before it starts exporting the fuel in 2023, is home to a $23 billion project that Anadarko Petroleum ...

Bloomberg In Beijing, President Xi Jinping’s grand military parade through the capital will be cheered as a display of national pride after 70 years of Communist Party rule. In Washington, many will see a growing threat to American dominance in the Western Pacific. Alongside the tanks, troop carriers and columns of goose-stepping soldiers, the 80-minute procession past Tiananmen Square on ...

Bloomberg Al-Shabaab, an al-Qaeda-linked militant group in the Horn of Africa, attacked a US military base near Somalia’s capital, Mogadishu, and detonated a car bomb targeting a European Union military convoy. “We are aware that the al-Shabaab militants detonated two car bombs at the US army base in Balidoogle area,” Abdirahman Muse Ali, a Somalia army officer, said by phone. ...

Bloomberg Politicians determined to stop Boris Johnson leaving the European Union without a deal are trying to work out how to force the prime minister from office. They have hit upon an arcane constitutional trick that relies on Queen Elizabeth II to fire him, according to a person familiar with the matter. A so-called Humble Address could be used to ...

Bloomberg Chinese President Xi Jinping stressed national unity and said relations between Hong Kong and the mainland would improve, even as pro-democracy protesters planned several rallies to coincide with anniversary of Communist rule. “Hong Kong and Macau will be able to develop together with the motherland’s interior,” Xi said in a brief speech to a banquet in Beijing ahead of ...