April, 2019

• 7 April

  Abu Dhabi looks to make waves at Seatrade Global in Miami

  

  ABU DHABI / WAM Abu Dhabi will promote its cruise sector attractions at the Seatrade Cruise Global, leading annual cruise industry event, which will take place from April 8-11 in Miami, Florida, USA. The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, is leading a delegation to the event, comprising partners such as Abu Dhabi Ports, Etihad ...

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• 7 April

  Over 100,000 people visit Quranic Park in Dubai in first week

  

  DUBAI / WAM Dubai Municipality has recently opened the Quranic Park for public free of charge. The park was developed in Khawaneej on an area of 64 hectares at a total cost of AED200 million. During the first week of opening the park received 100,000 visitors. Dawoud Al Hajri, Director General of Dubai Municipality, said, “The opening of the park ...

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• 7 April

  UAE maintains lead as top FDI recipient in Arab world

  

  Dubai / WAM The UAE attracted $10.35 billion in foreign direct investments in 2017, accounting for 36 percent of the total FDI inflows to the Arab countries. These figures were released by the UAE Ministry of Economy in conjunction with Annual Investment Meeting (AIM), the world’s biggest platform for FDI, which will kick off on Monday in Dubai, where more ...

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• 7 April

  NBF launches representative office in Antwerp, Belgium

  DUBAI / WAM National Bank of Fujairah (NBF), inaugurated its first international representative office in Antwerp Diamond District, Belgium, the largest rough trading hub in the world. This falls in line with the bank’s strategy to further cement its position as the leading financial partner for clients in the industry through its unparalleled sector expertise and bespoke solutions. The new ...

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• 7 April

  UAE-Saudi double taxation deal comes into effect

  

  Dubai / WAM The avoidance of double taxation agreement signed between the United Arab Emirates and Saudi Arabia has come into effect at the beginning of this month, after both countries completed the necessary procedures in accordance with their regulations. The UAE, represented by the Ministry of Finance (MoF), signed the agreement with Saudi Arabia on the avoidance of double ...

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• 7 April

  Ford, Nissan feed rental-car fleets over sagging demand

  

  Bloomberg Stronger-than-expected new-car sales last month belied a dirty little secret: Automakers have been selling more vehicles to rental fleets in recent months to prop up volume. Deliveries to rental-car companies and other non-retail buyers accounted for more than a third of total sales last month for Ford Motor Co and Nissan Motor Co, according to data from researcher Cox ...

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• 7 April

  Court approves Ghosn’s detention until April 14

  

  Bloomberg Carlos Ghosn will remain in jail until at least April 14 after a Japanese court granted prosecutors’ request to keep the former chairman of Nissan Motor Co longer for questioning on new allegations of funneling millions of dollars from the automaker for his own purposes. The court disclosed its decision in a statement. The former global auto titan, who ...

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• 7 April

  China FX reserves continue moderate gains on valuation

  Bloomberg China’s foreign-currency holdings rose for a fifth month as lower government bond yields in developed markets lifted valuations. Reserves increased by $8.58 billion to $3.0988 trillion in March, the People’s Bank of China said on Sunday. The reading compares with $3.09 trillion from the previous month and the median estimate of $3.09 trillion in a Bloomberg survey of economists. ...

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• 7 April

  Go-Jek joins ‘decacorn’ with $10b valuation

  

  Bloomberg Indonesian ride-hailing service Go-Jek’s value was estimated at $10 billion by a US market intelligence company, putting it in the ranks of startups called decacorns. New York-based CB Insights has listed Go-Jek among 19 decacorns around the world, along with the likes of Uber Technologies Inc, according to the Jakarta Post newspaper. That would make Go-Jek Indonesia’s first startup ...

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• 7 April

  BHP all set to cut jobs under streamlining plan

  Bloomberg BHP Group Ltd will cut jobs in a continuing effort to reduce bureaucracy under a previously foreshadowed streamlining strategy, a person familiar with the matter said. It is unclear how many jobs will be lost or when the reductions will begin, the person said, requesting anonymity because the move isn’t public. The changes come less than six weeks after ...

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