Bloomberg The tariff battle with the US will probably cost China 700,000 jobs, or more in the event of further escalation. The job losses would come if the US imposes 25 percent tariffs on $200 billion in Chinese exports and China retaliates by devaluing its currency by 5 percent and adding to levies on US goods, according to economists led ...

Bloomberg Abu Dhabi’s stock exchange is joining a race to introduce derivatives as Gulf bourses including Kuwait and Saudi Arabia put strategies in place to lure more investors. The Abu Dhabi Securities Exchange (ADX) plans to enable trading of futures contracts on single stocks in 2019, and they may eventually be available for the benchmark ADX General Index, Chief Executive ...

DUBAI / WAM DP World said on Tuesday that it will continue to pursue all legal means to defend its rights as a shareholder and concessionaire in Doraleh Container Terminal SA in face of Djibouti’s blatant disregard for the rule of law and respect for commercial contracts. On September 9 the President of Djibouti enacted a decree which purportedly transferred ...

Abu Dhabi / WAM Following China President Xi Jinping’s historic visit to the UAE in July, senior representatives at Abu Dhabi Ports and Khalifa Industrial Zone Abu Dhabi (Kizad), visited Nanjing, Jiangsu Province, to bolster growing trade relations. During the China-UAE Industrial Capacity Cooperation Demonstration Zone Investment Promotion Conference, industry leaders, government officials and private sector decision makers gathered to ...

ABU DHABI / WAM The Registration Authority of Abu Dhabi Global Market (ADGM), signed a Memorandum of Understanding (MoU), with the Emirates Development Bank (EDB), the host and operator of Mohammed Bin Rashid Innovation Fund (MBRIF). Through the MoU, the parties aim to facilitate cooperation in cultivating local entrepreneurship and innovation. Access to finance for young businesses remains a fundamental ...

Dubai Emirates Business Expo Centre Sharjah and the Riyadh International Convention and Exhibition Centre, RICEC, have signed a cooperation agreement to exchange knowledge and expertise between the two centres, as well as to review the best practices applied by both sides in the field of organising exhibitions and conferences and specialised events. Under the agreement, the two sides will cooperate ...

Sharjah / WAM Sharjah Consultative Council (SCC), received at the headquarter of SCC, Saudi Arabian delegation to look at investment opportunities. The delegation was headed by Dr Abdul Rahman Abdullah Almushekih, former member of the Shoura Council, Chairman of Alwasail Agricultural Company, and numbers of Sheikhs and top of officiants. Khawla Al Mulla, Chairperson of the Sharjah Consultative Council, welcomed ...

Abu Dhabi / WAM Abu Dhabi Commercial Bank (ADCB), has been announced as a ‘Corporate Champion’ for the second edition of the game-changing Innovation Challenge 2018 by Abu Dhabi Global Market (ADGM), and KPMG Lower Gulf Limited (KPMG LG). This year’s challenge will see ADCB and ADGM work directly with a selected FinTech firm to create a purpose-built, targeted solution ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA), has launched a new service enabling clients to pay the RTA fines, for all the vehicles registered under the federal traffic system across the UAE, in easy instalments using credit cards. The service is part of the RTA’s strategic goals aimed at achieving people happiness and financial sustainability. “The RTA has ...

Dubai / WAM The Business Registration and Licensing (BRL), sector in Dubai’s Department of Economic Development (DED), completed 17,710 transactions including 1,221 new trade licenses during the past month according to the ‘Business Map’ digital platform. Renewal of Licenses accounted for 9,071 transactions, while there were also 2,111 transactions related to Trade Name Reservation and 1,475 Initial Approvals. The Auto ...