May, 2019

• 28 May

  UAE campaign raises $13.6m for Rohingyas

  Abu Dhabi / WAM As the UAE’s campaign to support Rohingya refugees raised around AED50 million ($13.61 million) during the first three days, the authorities are trying to spread its message to more people with support of social media influencers. The latest move is inspired by the UAE’s past experience of receiving unexpected support of people from distant lands since ...

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• 28 May

  Dubai Chamber membership grows 20 percent in Q1 2019

  

  Dubai / Emirates Business A total of 6,377 new companies joined Dubai Chamber of Commerce and Industry in the first four months of 2019, bringing membership growth to 20% compared to the 5,316 members accounted for in the same period last year. The number of renewed members reached 39,338 between January and April 2019, marking a year-on-year (y-o-y) increase of ...

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• 28 May

  FTA urges tax agents to comply with professional standards

  Abu Dhabi / WAM The Federal Tax Authority (FTA), has called on tax agents to comply with the five ‘Professional Standards for Tax Agents’, published in a new guide on the subject, in all of their transactions to ensure uninterrupted activity. The new guide was issued through the FTA’s official website, offering a detailed explanation of the standards and conditions ...

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• 28 May

  Adnec wraps participation in AUVSi2019, ITEC on a high note

  

  Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (Adnec) attracted huge interest from leading international companies in unmanned systems and simulation and training during its participation in the recently concluded Association for Unmanned Vehicle Systems International (AUVSi2019) and the International Forum for the Military and Civil Simulation, Training and Education Community (ITEC). Adnec’s participation in both events aimed ...

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• 28 May

  Apple, Nike brace for China’s wrath following Huawei ban

  

  Bloomberg US companies counting on China for a major part of their growth have targets on their backs as Beijing and Washington ratchet up trade-war tensions. President Donald Trump’s decision to blacklist Huawei Technologies Co, the Chinese maker of smartphones, while also threatening bans on other Chinese technology companies, could open the door to retaliation against US brands from hotels ...

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• 28 May

  Alibaba’s $20 billion share sale to pressure Hong Kong liquidity

  

  Bloomberg A planned $20 billion offering by Alibaba Group Holding Ltd would likely squeeze liquidity in Hong Kong, pushing up borrowing rates in the city and strengthening the local dollar. China’s largest company is considering a second listing in Hong Kong, people familiar with the matter said, potentially rivaling AIA Group Ltd’s initial public offering in 2010 as the city’s ...

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• 28 May

  Hong Kong’s property shows signs of bubble

  Bloomberg Noted economist and Harvard professor Carmen Reinhart has become the latest person to sound the alarm about Hong Kong, saying the city’s property market is showing signs of a bubble. “There are elements in the Hong Kong picture that are very reminiscent of Ireland, Spain, Iceland” before their crises, she told the Nomura Investment Forum Asia 2019 in Singapore. ...

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• 28 May

  Chocolate demand outpaces cocoa supply in Asia

  

  Bloomberg Demand from Asia’s growing legions of chocoholics has outpaced the ability of local farmers to supply cocoa beans, prompting a surge of shipments into the region from Africa and South America. Indonesia, the top producer and processor in the area, imported about 240,000 metric tons of beans last year, a record, and may buy more in 2019, said Piter ...

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• 28 May

  ‘India has political space to do difficult tasks to spur economy’

  

  Bloomberg India has the political space to undertake “difficult” tasks to revive economic growth, an adviser to the nation’s government said after PM Narendra Modi was reelected to office with a landslide majority. The government can pass measures to spur investment, Sanjeev Sanyal, principal economic adviser at the finance ministry, said during a discussion on India’s politics versus economics organised ...

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• 28 May

  Tesla gets ready to reveal prices of made-in-China Model 3 car

  

  Bloomberg Tesla Inc is getting close to revealing new prices for the Model 3 in China as it nears local manufacturing of the car. The Palo Alto, California-based carmaker plans to make an announcement about its China-made Model 3 cars on May 31, Tesla said in a social media posting, inviting people to guess the price of the domestic Model ...

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