August, 2018

• 13 August

  UAE-Norway bilateral trade reaches $640mn in 2017

  

  ABU DHABI / WAM The relations between the UAE and Norway have witnessed increasing development, in line with their strong bilateral ties over the past decades with the value of their trade exchange reaching around $639.9 million in 2017, compared to $326.7 million in 2016, according to Ministry of Economy’s Trade Policy Review Report. The value of imports from Norway ...

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• 13 August

  Gulftainer invests AED11mn in Sharjah infrastructure project

  

  SHARJAH / WAM Gulftainer, the world’s largest privately owned independent port operator based in the UAE, will host a ceremony to commence the construction of the Saja’a Permanent Access Road. The company’s AED11 million investment in the road extension aligns with its objective to play a key role in driving Sharjah’s economy. The highway will extend over two kilometres to ...

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• 13 August

  ‘UAE ranks above global average in well-being’

  

  DUBAI / WAM The UAE has ranked above the global average in well-being, according to a report released by Cigna Corporation. Factoring in the responses of the resident UAE population — for the second consecutive year — the findings indicate that overall well-being remains stable with residents more confident of their ability to manage current and future costs, and the ...

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• 13 August

  Commercial complaints up 52% in H1 2018: DED

  DUBAI / WAM The Business Protection section of the Department of Economic Development (DED) in Dubai has seen a 52 percent increase in complaints regarding commercial disputes during the first half of 2018, compared to the same period last year. The section received 790 complaints during H1 2018 as against 520 complaints during the first half of 2017 as more ...

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• 13 August

  ‘The youth are integral to sustainable development’

  ABU DHABI / WAM The Arab Youth Centre revealed its list of ‘Young Arab Pioneers,’ which includes youths under 35 years of age from many Arab countries, who have a record of accomplishments, positively contributed to their communities, created opportunities, and provided solutions to challenges facing the Arab world. To mark the occasion, Shamma bint Suhail Faris Al Mazrui, Minister ...

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• 13 August

  Get instant access to UAE, region with ‘minimal investment’

  

  AJMAN / WAM The Business Club licensing package by Ajman Media City Free Zone gives instant access to UAE and Arab region at the lowest investment and also gives freedom to focus on core business from day one, said Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone. “Business Club business set up package offers ...

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• 13 August

  US futures pare losses as traders weigh Turkey impact

  

  Bloomberg US stocks erased earlier gains to trade lower as investors weighed the impact of the economic crisis in Turkey creeping into global markets. The dollar reached the highest in more than a year, while developing-nation currencies slumped. The S&P 500 Index was flat and Dow Jones Industrial Average retreated in light summer trading, while strength in technology propped up ...

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• 13 August

  ICOs turn exclusive as wealthy investors snatch up big deals

  

  Bloomberg ICOs were supposed to be IPOs without the Wall Street middlemen and Washington meddling. Now they’re looking a bit less revolutionary. Initial coin offerings have raised $18 billion for blockchain startups this year, almost five times last year’s total, according to CoinSchedule. But unlike 2017, this is increasingly due to blockbuster sales that targeted accredited investors instead of just ...

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• 13 August

  Consumers taking Bank of Canada rate hikes in stride

  

  Bloomberg Higher Canadian interest rates don’t appear to be worsening the pain for consumers, yet. Some 53 percent of Canadians say rising borrowing costs haven’t had a negative impact on their personal spending, according to a survey by Nanos Research taken earlier this month. Around 43 percent of respondents say they are feeling at least somewhat of a pinch, with ...

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• 13 August

  BEA falls most in 3 years after cut from Hang Seng Index

  

  Bloomberg Bank of East Asia Ltd. slumped the most since July 2015 following news it will be cut from Hong Kong’s Hang Seng Index along with China Merchants Port Holdings Co., which also tumbled. BEA closed down 5.8 percent on Monday, making it the worst performer on the Hong Kong benchmark, even after paring some earlier losses. China Merchants Port ...

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