December, 2017

• 17 December

  Unilever sells spreads business for $8.1bn

  

  Bloomberg Unilever agreed to sell its margarine and spreads business to KKR & Co. for $8.1 billion, ridding the Anglo-Dutch consumer-goods giant of one of its worst-performing units as it focusses on faster-growing food and personal-care niches. The private equity firm’s purchase of the division, whose brands include Flora and I Can’t Believe It’s Not Butter!, is the biggest leveraged …

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• 17 December

  Boeing sales to Iran at risk as Trump revisits N-deal

  

  Bloomberg The Trump administration is considering blocking planned sales by Boeing Co., Airbus SE and General Electric Co. to Iran, as the president reconsiders the 2015 deal to curb the Islamic Republic’s nuclear programme, a person familiar with the matter said. No recommendation has yet been made to President Donald Trump and his administration is also considering letting the sales …

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• 17 December

  Wal-Mart to allow workers early access to pay with new tools

  

  Bloomberg Wal-Mart Stores Inc., working with two financial-technology startups, will allow its 1.5 million-strong US workforce to draw on their salary ahead of payday—or squirrel some of it away for a rainy day. The world’s biggest retailer has unveiled financial-planning tools designed by Even Responsible Finance Inc. and PayActiv Inc., a move that lets its employees access earned wages ahead …

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• 16 December

  Global oil storage market to reach $17.2bn by 2023

  

  Abu Dhabi / Emirates Business The global oil storage market is set to become more competitive due to burgeoning investments by some of the key market players, according to Transparency Market Research (TMR). Various industry players are undertaking strategic collaborations including joint ventures, acquisitions, mergers and partnerships in order to establish a stronger market position. The stiffening competition in the …

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• 16 December

  Egypt closer to LNG self-sufficiency as Zohr field starts production

  

  Bloomberg Egypt’s Eni SpA-operated Zohr natural gas field has started production, bringing the country closer to its goal of energy self-sufficiency. Gas from the Mediterranean’s largest offshore field is pumped to a facility in Port Said city, to be prepared for delivery to the national distribution network, with initial production of 350 million cubic feet per day, oil minister Tarek …

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• 16 December

  Dubai Investments to launch initiatives to support UN SDGs

  DUBAI / WAM Reinforcing its commitment to the cause of sustainability, Dubai Investments PJSC, a leading, diversified investment company listed on the Dubai Financial Market, is set to adopt a number of ideas and initiatives across the group, put forth by its Sustainability Champions to support the 17 UN Sustainable Development Goals (SDG’s). These initiatives were evaluated as part of …

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• 16 December

  India raises tariffs on electronics to curb imports

  Bloomberg India increased the customs duty on some electronics including mobile phones, television sets, and microwave ovens in a bid to curb imports and boost local manufacturing. The levy on mobiles and TVs was raised from 10 percent to 15 percent, according to a Ministry of Finance statement. Duty on digital cameras, video cameras and projectors was doubled to 20 …

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• 16 December

  Sharjah and Japan explore new commercial avenues

  

  Sharjah / Emirates Business As Sharjah continues its extensive drive to build a wider global base of economic allies and investors, government entities, expanding enterprises and private businesses from Japan and Sharjah met to discuss latest investment opportunities in the rapidly diversifying economic milieu of Sharjah and the UAE. For the first time an international business meeting was brought to …

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• 16 December

  ERC launches campaign to assist 35,000 in Yemen’s Jahaf district

  

  ADEN / WAM The Emirates Red Crescent (ERC) announced the launch of a water campaign to assist the people of the Jahaf district in Yemen’s Dhale Governorate. The campaign objectives include providing a number of tanks to ensure safe drinking water for 35,000 individuals who lack necessary humanitarian conditions; as a result of severe drought and lack of access to …

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• 16 December

  NAMA hosts London’s Lady Mayoress

  Sharjah / WAM NAMA Women Advancement Establishment (NAMA), welcomed a UK delegation, headed by London’s Lady Mayoress Samantha Bowman on her first official overseas tour, at its headquarters in the Executive Office of Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of NAMA. The UK delegation was welcomed by members of the NAMA Executive Committee, including Sheikha Hind bint …

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