June, 2020

• 8 June

  UAE issues 196 e-commerce licences in May

  Abu Dhabi / WAM The e-commerce business sector was issued the highest number of licences in the UAE in May. Data from the National Economic Register, in coordination with relevant economic authorities, showed that 196 licences were issued for e-commerce retail businesses in May. The first five months of the year saw a 300 percent increase in consumer demand for ...

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• 8 June

  DIFC invests in innovative fintech start-up companies

  

  Dubai / WAM Dubai International Financial Centre (DIFC) announced on Monday that it has invested in four fintech start-up companies. According to a DIFC press statement, the investment reflects the centre’s commitment to driving the future of finance and is part of the $100 million FinTech Fund launched in 2019. The FinTech Fund was launched to help establish, grow and ...

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• 8 June

  Abu Dhabi announces launch of e-contract, e-signature system

  

  ABU DHABI / WAM The Abu Dhabi Department of Economic Development (Added) announced that it has launched an e-contract and e-signature system which will enhance the issuance of economic licenses for one person companies (OPC) and limited liability companies (LLC). The initiative seeks to hasten the issuance of licenses for applicants through obtaining a certified Memorandum of Association (MoA) via ...

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• 8 June

  ADGM gets global awards for in-house legal services

  

  ABU DHABI / WAM Abu Dhabi Global Market (ADGM) has announced that its Financial Services Regulatory Authority (FSRA) Policy and Legal Team, have won two prestigious awards at the annual In-House Community Counsels of the Year Awards 2020. “The team was awarded ‘In-House Community Best Practice Legal Teams of the Year in Financial Services’ and ‘In-House Community Best Practice Legal ...

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• 8 June

  Dubai’s monthly house price index up 1.36%

  

  Dubai / WAM The Dubai Land Department (DLD) announced on Monday that the emirate’s official monthly house price index saw a rise of 1.36 percent as the index value moves from 1.1 to 1.115 amidst the lockdown. The results were announced as part of the second edition launch of ‘Mo’asher’ – Dubai’s official sales price index – produced by DLD, ...

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• 8 June

  Sharjah completes ‘we’ll get through this’ campaign

  

  Sharjah / WAM The Sharjah Consultative Council (SCC) represented by the Financial, Economic and Industrial Affairs Committee, announced the conclusion of the campaign, entitled, “We’ll get through this.” The campaign aimed to highlight the stimulus package approved by the Sharjah Government to support governmental and private entities, business sectors and individuals, and reflects the importance of the sustainability incentives for ...

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• 8 June

  Rare bright spot for gas in China’s power mix at risk

  

  Bloomberg One of the few bright spots in China’s coal-dominated power mix for cleaner-burning natural gas is at risk after a proposed tariff cut. The southern province of Guangdong is mulling a 5-12% cut in the rates gas-fuelled generators can charge, according to a report on a website run by China Southern Power Grid Co, referencing an unpublished policy consulting ...

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• 8 June

  Why Mullen and Mattis broke their silence?

  

  The military establishment’s anger at President Trump’s politicisation of the armed forces has been building for three years. It finally ripped open in the aftermath of the appalling presidential “photo op” at St John’s Episcopal Church. The break was a decisive moment in the Trump presidency. But such inflection points are mysterious. Why does a bridge that has carried a ...

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• 8 June

  Long lines don’t spell retail boom!

  

  Anyone who has ever waited at Primark to pay for cheap workout attire or a bargain dress knows just what a challenge it is to keep the snaking line in the right place. With precautions to control the novel coronavirus’s spread, that logistical nightmare will get even worse. Every second cash register will be shut and there’ll be an employee ...

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• 8 June

  AstraZeneca ponders $240b Gilead gamble

  There are good reasons for Britain’s AstraZeneca Plc to consider what would be the biggest pharmaceuticals deal in history by combining with US peer Gilead Sciences Inc. They may not be good enough to offset the risks that go with mashing together drugmakers with a total market value of nearly $240 billion. AstraZeneca approached Gilead last month, Bloomberg News reported, ...

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