May, 2019

• 7 May

  Amazon casts itself as friend, not foe, of small businesses

  

  Bloomberg Amazon.com Inc, seeking to portray itself as a job creator fueling small-business innovation rather than an out-of-control corporate beast that needs to be tamed, said it helped mom-and-pop companies create 1.6 million jobs in 2018, up from 900,000 the year before. The company released a report, during National Small Business Week, for circulation to elected officials as part of ...

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• 6 May

  UAE, Saudi Arabia accelerating infrastructure development ties

  

  DUBAI / WAM The UAE and Saudi Arabia have reviewed the latest prospects of cooperation in the field of infrastructure development. This came during the five-day meetings held by the joint project teams of the Emirati-Saudi Coordination Council in Riyadh where a summary of the projects charted by the Saudi Ministry of Infrastructure Development, and the efforts of both countries ...

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• 6 May

  Emaar Development sales grow record 51% in Q1

  

  DUBAI / Emirates Business Emaar Development achie-ved one of the highest quarterly sales during the first quarter (January to March) of 2019 underpinned by the exceptional sales of residences launched by the company. The total sales for the period increased by 51 percent to AED 5.902 billion ($1.607 billion) compared to Q1 2018 sales of AED3.908 billion ($1.064 billion). Emaar ...

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• 6 May

  US sends aircraft carrier to Mideast to warn Iran

  Bloomberg The US said it’s sending an aircraft carrier strike group and bomber force to Middle East to send an “unmistakable message” to Iranian regime, citing “a number of troubling and escalatory indications and warnings” it suggested were linked to Tehran. “The US is not seeking war with the Iranian regime, but we are fully prepared to respond to any ...

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• 6 May

  Dana Gas profit up 150%

  

  SHARJAH / WAM Dana Gas announced its financial results for the first quarter that ended on March 31, declaring that net profit was up 150% in Q1 2019, reaching $35 million (AED128 million) as compared to $14 million (AED51 million) in Q1 2018. The higher net profit was principally due to an increase in Kurdistan Region of Iraq (KRI) production ...

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• 6 May

  Islamic banks in GCC to stay resilient in 2019-20

  

  DUBAI / Emirates Business Islamic Banks in the Gulf Cooperation Council (GCC) are expected to show resilience over the next two years after weathering tough market conditions in 2018, said S&P Global Ratings in a report published on Monday. “In 2018, GCC Islamic banks expanded slower than conventional peers for the first time in five years,” said S&P Global Ratings ...

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• 6 May

  Oil falls to five-week low after Trump jeopardises trade talks

  

  Bloomberg Oil tumbled towards $60 a barrel as President Donald Trump threw trade talks between the world’s two largest economies into disarray with a threat to raise tariffs on Chinese imports, roiling global markets. US crude pared losses after plunging as much as 3.1 percent in New York to the lowest level in five weeks. China was said to be ...

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• 6 May

  DP World receives ‘supply chain hub’ award

  

  Dubai / Emirates Business Global trade enabler DP World UAE Region has been recognised for developing the GCC’s most robust and efficient supply chain at this year’s Logistics Middle East Awards 2019, where it won the Supply Chain Hub of the Year award. Abdulla bin Damithan, Chief Commercial Officer of DP World UAE Region, accepted the award on behalf of ...

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• 6 May

  ‘Smiles UAE’ open to all in UAE: Etisalat

  

  Abu Dhabi / Emirates Business Etisalat on Monday announced the launch of ‘Smiles UAE’, making the popular app – with its wide range of daily deals and lifestyle rewards – accessible to all UAE residents and visitors. The app was previously available only for selected Etisalat customers. Smiles users will enjoy ‘Buy 1 Get 1 Free’ deals on entertainment, shopping, ...

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• 6 May

  DoF launches ‘noqodi’ for paying government fees

  Dubai / WAM Dubai’s Department of Finance (DoF), in collaboration with Smart Dubai and emaratech, has launched “noqodi”, a digital wallet to facilitate payments of fees for government services. The new payment channel allows individual and corporate customers to pay quickly, easily and securely for different government and non-government fees under Dubai Pay, the digital platform for payments. “We commend Smart ...

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