July, 2018

• 23 July

  Emirati engineers join FANR Nuclear Training Programme

  

  ABU DHABI / WAM The UAE’s Federal Authority for Nuclear Regulation (FANR), welcomed to its staff seven Emirati engineers, who have recently graduated from UAE universities to join its flagship Developee Engineers Programme, as part of its strategy to build long-term sustainability by developing Emirati talent in the nuclear sector. The engineers will commence a year-long nuclear regulatory development programme. ...

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• 23 July

  Enoc opens new service station in Al Barsha

  

  DUBAI / WAM Enoc Group has opened a new service station in Al Barsha, a densely populated area in Dubai – as part of its expansion plans aimed at building 54 new service stations by 2020. Commenting on the announcement, Saif Humaid Al Falasi, Group CEO of ENOC, said, “The new service station in Al Barsha underlines our commitment to ...

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• 23 July

  Emirates, flydubai team up to offer seamless service to Zagreb

  DUBAI / Emirates Business Emirates and its partner airline flydubai announced on Monday that flights between Dubai and Zagreb in Croatia will be operated by flydubai from December 2 to March 30, 2019 after which flights will be operated by Emirates. The move will ensure that capacity is deployed to best serve customer demand by maximising the frequency for passengers ...

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• 23 July

  Trump’s trade war casts a long shadow over LNG shipping boom

  

  Bloomberg The booming market for liquefied natural gas can weather an escalating US-China trade war. But the risks are mounting. So far, LNG has been left off the growing list of tit-for-tat tariffs. If that changes, prices will rise and deter buyers just when new markets for the fuel are opening up, according to Paul Wogan, the chief executive officer ...

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• 23 July

  India is hoarding China solar cells before tariff kicks in

  Bloomberg India’s plan to cut imports of Chinese solar cells and modules by imposing a safeguard duty may have the opposite effect in the short run, according to ICBC International Research Ltd. Stockpiles could rise rapidly as Indian developers hoard more modules before the proposal to impose a 25 percent safeguard tariff is expected to take effect in the next ...

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• 23 July

  US stocks drop on growth fears; Treasuries decline, oil climbs

  

  Bloomberg US and European stocks dropped on Monday as investors digested warnings from the world’s financial leaders about the impact of protectionism on growth. Oil climbed amid tension between the US and Iran. The S&P 500 Index declined, pulled down by tech and industrial shares. Treasuries slipped while the dollar held steady. The Stoxx Europe 600 Index edged lower after ...

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• 23 July

  India’s Sensex at record as PM cuts GST rates

  

  Bloomberg Indian stocks advanced to a record after India slashed taxes on a slew of products and Prime Minister Narendra Modi defeated a no-confidence vote in the Parliament. The S&P BSE Sensex rose 0.6 percent to 36,718.60 in Mumbai. State and federal lawmakers cut goods and services taxes on more than 50 products, while the defeat of the opposition-led motion ...

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• 23 July

  European stocks drop as traders weigh ‘Fiat’s CEO’

  Bloomberg European equities retreated at the open as Fiat dropped on the news of a change in chief executive and as investors considered President Donald Trump’s new tariff threats. The Stoxx Europe 600 Index declined 0.3 percent, with the automakers and travel sectors pacing the retreat. Fiat Chrysler Automobiles NV fell 4 percent after Mike Manley was named CEO to ...

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• 23 July

  Tax cuts on 50 goods to deny India $2bn in annual revenue

  

  Bloomberg India’s move to slash levies on more than 50 goods will lower revenue by as much as $2.2 billion each year and is raising the prospect of the country missing budget goals again this year. A panel of federal and state finance ministers cut the goods and services tax on items from washing machines and lithium ion batteries to ...

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• 23 July

  AI startup Megvii to raise $600mn from Alibaba, Boyu

  

  Bloomberg Megvii Inc., the Chinese developer of facial recognition system Face++, is said to be raising at least $600 million from investors including Alibaba Group Holding Ltd. and Boyu Capital, according to people familiar with the matter. The Beijing-based company, which already counts billionaire Jack Ma’s Ant Financial and one of China’s largest state-backed venture funds as investors, will close ...

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