August, 2019

• 7 August

  Empower awards AED25mn network extension deal

  

  DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) on Wednesday announced that it has awarded an AED25 million contract to extend its cooling service pipeline network in order to meet the needs of major development projects in Dubai. This extension work will be completed by the end of 2019, and will link ‘Al Wasl Tower 2020’ and the ‘Yotel ...

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• 7 August

  NEC opens candidate registration centres for FNC 2019 election

  

  ABU DHABI / WAM The National Election Committee (NEC) announced the launch of candidate registration for the upcoming Federal National Council (FNC) elections. The Committee invited all eligible candidates wishing to submit their applications to do so at the candidate registration center of their respective emirate, from August 18 to 22, during the official working hours that extend from 08:00 ...

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• 7 August

  Azizi expands into retail, unveils sale of 329 outlets across Dubai

  

  Dubai / Emirates Business Adding retail units to its portfolio, Azizi Developments, one of the leading private developers in the UAE, launched the sale of 329 retail units across all of its Dubai developments. Through Azizi Retail, Azizi Developments’ division for outlets, the retail spaces are embedded into its master-planned communities and residential towers, adding leisure, shopping and eatery amenities ...

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• 7 August

  Agthia reports AED84 mn profit in first half of 2019

  

  Abu Dhabi / Emirates Business Agthia Group PJSC, one of the region’s leading food and beverage groups, this morning reported H1 2019 net profit of AED 84 million and revenues of AED 1.06 billion. Driven by the group’s endurance to adverse market conditions along with the geographical and segmental diversification, the company grew revenues 5.4 percent over the same period ...

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• 7 August

  DFSA, Central Bank of Egypt sign deal

  

  Dubai / WAM The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding with the Central Bank of Egypt to enhance the relationship and cooperation between both institutions and facilitate the performance of their respective supervisory tasks. Under the new agreement, the two sides will also work to promote the safety and soundness of banks in their respective ...

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• 7 August

  Marhaba unveils newly expanded airport lounge at DXB 

  

  DUBAI / WAM Following the recent opening of its new facility at Changi Airport, marhaba, one of the world’s fastest growing passenger services providers, has expanded its lounge at Dubai International Airport Terminal 3 by 400 square metres, increasing its capacity by 50 percent. Located at Concourse “B”, the lounge now features comfortable seating for 300 guests, a spacious dining ...

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• 7 August

  Samsung loosens Sony’s grip on China smartphone cameras

  

  Bloomberg Samsung Electronics Co. scored a victory over Sony Corp. after a major Chinese customer declared it was going with the Korean company’s camera sensors in future smartphones. On Wednesday, Xiaomi Corp. said it will turn to Samsung for a future line of its mainstream Redmi smartphones with an impressive 64-megapixel camera. That’s part of a strategic alliance under which ...

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• 7 August

  India proposes user safeguard rules for e-commerce platforms

  

  Bloomberg India is proposing a series of consumer safeguards that forbid e-commerce companies such as Amazon.com Inc. and Walmart Inc.-owned Flipkart Online Services Pvt. from influencing pricing, adopting unfair promotion methods or misrepresenting the quality of goods and services. E-commerce companies must self-declare compliance and also provide a way for customers to contact them directly, said the proposed e-Commerce Guidelines ...

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• 7 August

  S’pore to step up oversight on Grab, Gojek

  Bloomberg Singapore will tighten regulations on ride-hailing operators such as Grab and Gojek, bringing safety-related rules for the services in line with taxi operators to better protect commuters and drivers. Senior Minister for Transport Janil Puthucheary outlined a new bill governing the ride-hailing industry in the country’s parliament. He said ride-hailing operators with at least 800 vehicles will be licensed. ...

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• 7 August

  As trade war runs hot, China scoops up more gold for its reserves

  

  Bloomberg There’s a powerful constant amid the to-and-fro of the US-China trade war as currency policy gets dragged into the standoff between the world’s two top economies: Beijing wants more gold in its reserves. China’s central bank expanded gold reserves again in July, pressing on with a run that stretches back to December. The People’s Bank of China raised holdings ...

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