Abu Dhabi / WAM The UAE, represented by the Emirates Red Crescent (ER), has intensified its humanitarian giving campaign in Yemen during 2017, by contributing to the development of the country’s six primary sectors: education, health, security, relief, infrastructure and housing, after the wave destruction inflicted by the Iran- backed Houthi militias on the nation’s economy. Receiving widespread local and ...

Sharjah / WAM The Sharjah Islamic Bank (SIB) has successfully completed the issuance of AED266.8 million worth of Sukuk convertible into equity of the bank to the Sharjah Social Security Fund (SSSF). The move came in line with the Year of Giving (2017) under the patronage and the wise vision of His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, ...

Dubai / Emirates Business Atlantis, The Palm teamed up with luxury US caviar company AmStur this New Year’s Eve to create the impossible and break the Guinness World Record for the world’s largest caviar tin. The 50kg serving of caviar was presented to guests at the resorts’ Gala Dinner and smashed the previous Guinness World Record for the world’s largest ...

Hadramaut / WAM The Emirates Red Crescent (ERC) on Monday distributed food supplies in a number of student dormitories at the Medical Sciences Institute, the Trim and Al Soum secondary schools for boys and the Vocational Institute at Hadramaut Valley as part of the Student Relief Programme provided by the UAE in support of the brotherly people of Yemen. Saeed ...

Abu Dhabi / WAM The Ministry of Finance (MoF) has announced that the Federal Financial System has been updated and is ready to manage all financial transactions related to the value added tax (VAT). All federal entities linked to the Federal Financial System are able to perform various VAT-related transactions through the system, which has been updated in conjunction with ...

Egypt / Emirates Business Dr Ismail Abdel Ghafar, President at the Arab Academy for Science, Technology and Maritime Transport (AASTMT) and Marasi News signed a protocol for media collaboration that aims at highlighting the great economic capabilities infatuated by the Arab maritime sector. The agreement also reinforces the strategic role of the Arab Academy as one of the most important ...

Bloomberg Huawei Technologies Co. warned of its slowest revenue growth since 2013, despite making headway against Apple Inc. in global smartphones. Revenue at China’s biggest telecommunications gear maker probably rose 15 percent to $92 billion in 2017, rotating Chief Executive Officer Ken Hu said in a letter to staff posted on the company’s verified WeChat account. That’s down from 2016 ...

Bloomberg Fosun Group is planning to raise as much as $3.2 billion selling local bonds as the Chinese insurance-to-pharmaceutical conglomerate refinances debt and increases its investments inside the country, according to people familiar with the matter. Fosun unit Shanghai Fosun Hi Technology Group Co. intends to offer 6 billion yuan of medium-term notes after completing registration in 2017, the people ...

Bloomberg Singapore’s economy expanded 3.5 percent in 2017, more than double the initial government forecast as the country benefited from the global economic upswing, Prime Minister Lee Hsien Loong said in his New Year message. Lee said the city-state would press on with economic restructuring and infrastructure projects such its fifth airport terminal as well as review healthcare policies to ...

Bloomberg A Chinese court has seized all the assets owned by LeEco founder Jia Yueting it could unearth, as the country’s legal bodies step up action against an internet entrepreneur who once declared war on Apple and Tesla Inc. The Beijing First Intermediate People’s Court seized more than $200,000 in bank deposits, the court said in a statement posted on ...