July, 2018

• 21 July

  The Fed was ‘America first’ long before Trump

  

  Donald Trump has to decide what he wants. Rising interest rates, which he says he doesn’t like, are a reflection of a strong economy. He loves to take credit for the latter and frequently boasts about how great things are since he came to office. One begets the other. America isn’t being penalised for doing well, as Trump complained in ...

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• 18 July

  DP World-NIIF venture acquires 90% stake in Indian logistics firm

  

  DUBAI / WAM Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and National Investment and Infrastructure Fund (NIIF) announced that the transaction to acquire 90 percent stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), in India has now closed. CWCNSL’s founders, the Reddy family, will retain the remaining 10 percent shareholding and will remain involved in ...

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• 18 July

  Mashreq profit up 5.2% to AED1.2 billion in H1

  

  DUBAI / Emirates Business Mashreq, one of the leading financial institutions in the UAE, on Wednesday reported its financial results for the first half ending on June 30. The operating income is up by 3.7% and stands at AED 3.1 billion. Net profit for the first half stood at AED1.2 billion — a 5.2% increase YoY. The impairment allowance is ...

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• 18 July

  Dubai to get region’s largest ‘Chinatown’

  

  DUBAI / WAM Dubai developer Emaar has announced plans to build the Middle East’s largest Chinatown within the retail district of its mega development Dubai Creek Harbour. Emaar’s announcement comes ahead of the visit of Chinese President Xi Jinping to the UAE on Thursday and will further strengthen UAE-China relations. The retail precinct will occupy a central location within the ...

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• 18 July

  Abu Dhabi’s Injazat enters partnership with Shurooq

  

  DUBAI / Emirates Buisness Sharjah Investment and Development Authority (Shurooq) signed an exclusive partnership agreement with Abu Dhabi’s Injazat Data Systems, the Middle East’s leading specialists in information technology and digital transformation, to introduce the latter’s services in the Emirate of Sharjah. Shurooq will promote Injazat — a wholly owned subsidiary of Mubadala, the investment arm of the Abu Dhabi ...

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• 18 July

  GE, Microsoft team up to spur digital transformation

  DUBAI / Emirates Business GE and Microsoft Corp announced an expanded partnership, bringing together operat- ional technology and information technology to eliminate hurdles industrial companies face in advancing digital transformation projects. GE Digital plans to standardise its Predix solutions on Microsoft Azure and will deeply integrate the Predix portfolio with Azure’s native cloud capabilities, including Azure IoT and Azure Data ...

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• 18 July

  UAE-China ties based on mutual respect, interests

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, said the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China in 2015 represented a vital step in the improving overall cooperation between the UAE and China, including in the economy ...

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• 18 July

  UAE-China relations: Continuing historic successes, developments

  

  ABU DHABI / WAM The UAE has excellent diplomatic and economic relations with China which are based on mutual cooperation, and is also keen to promote regional and international communication, to help create a bright future and achieve global security, peace and stability. Political Relations The Founding Father of the UAE, late Sheikh Zayed bin Sultan Al Nahyan sent a ...

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• 18 July

  Peng Liyuan a symbol of China’s soft power

  

  ABU DHABI / WAM China’s First Lady Peng Liyuan is accompanying President Xi Jinping of the People’s Republic of China on his official visit to the UAE, as part of a high-level delegation to deepen bilateral trade, cultural and scientific cooperation between the two countries. The first lady represents a new image of China, where the President of the Institute ...

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• 18 July

  Ministry launches projects supervised by Chinese firms

  DUBAI / WAM Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Board of Directors of the Sheikh Zayed Housing Programme, said that the development of the UAE-China relations have led to activating joint agreements and enhancing cooperation in infrastructure, railways, oil, energy and sustainable sectors, which represent the foundation of a comprehensive development. ...

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