July, 2018

• 14 July

  EFG achieves key safety milestone

  Abu Dhabi / WAM Dubai Investments, the leading, diversified investments company listed on the Dubai Financial Market, announced that its wholly-owned subsidiary, Emirates Float Glass (EFG), accomplished a unique recognition by achieving one million man-hours without Loss Time Injury (LTI), for the second time in its history. The massive recognition for the EFG, which is part of Glass LLC and ...

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• 14 July

  Al Qudra-Jebel Ali Lehbab Junction to be upgraded

  

  Dubai / WAM The Board of Executive Directors of the Roads and Transport Authority (RTA), in Dubai has awarded a contract for upgrading the Al Qudra-Jebel Ali Lehbab Roads Junction. Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the RTA, who chaired the session, said, “The junction will be upgraded to a multi-tier flyover providing ...

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• 14 July

  Sharjah Police signs MoU with Enjazat

  Sharjah / WAM The Sharjah Police General Command and Enjazat Services have signed a Memorandum of Understanding (MoU), for bolstering joint cooperation in areas of community development and customer service. The MoU, which aims to consistently deliver customer delight, was signed by Major General Saif Al Zari Al Shamsi, Commander-in-Chief of Sharjah Police, and Khamis bin Salem Al Suwaidi, Chairman ...

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• 14 July

  ERC chief visits theatre department in Aden

  Aden / WAM Saeed Al Ali, Director of the Emirates Red Crescent (ERC), in Aden, and Yemeni Minister of Culture, Marwan Damaj, visited the Department of Art Production and Department of Theatres at the Culture Office in the interim capital, Aden. The ERC head inspected the building and the National Theatre, which, he said needed rehabilitation of lighting, air conditioning ...

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• 14 July

  50 Arab Coders to get backing to establish companies

  

  ]ubai / ًِ’ Dubai Future Foundation (DFF) announced the signing of a Memorandum of Understanding (MoU) with Dubai Airport Freezone Authority (Dafza) to support the graduates of the One Million Arab Coders initiative, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to prepare a generation of ...

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• 14 July

  Elliott seeks $770mn from South Korea in Samsung fight

  

  Bloomberg Elliott Management Corp. said it was seeking compensation for at least $770 million in damages from South Korea over how its former administration intervened in the merger of Samsung C&T Corp. and Cheil Industries Inc. in 2015. Billionaire Paul Singer’s New York-based hedge fund had submitted the dispute for arbitration and urged the government to pay the damages in ...

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• 14 July

  India’s Mukesh Ambani topples Jack Ma as Asia’s richest person

  

  Bloomberg Mukesh Ambani overtook Alibaba Group founder Jack Ma to become Asia’s richest person as he positions Reliance Industries Ltd. to disrupt the e-commerce space in India. The chairman of India’s refining-to-telecoms conglomerate, Ambani was estimated to be worth $44.3 billion with Reliance Industries Ltd. rising 1.6 percent to a record 1,099.8 rupees, according to Bloomberg Billionaires Index. Ma’s wealth ...

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• 14 July

  Singapore fund gets skeptical of tech firms

  

  Bloomberg Singapore’s sovereign wealth fund, which backed some of China’s biggest technology startups, is becoming more selective about investments in the sector amid soaring valuations. An influx of investors of all stripes, from venture capital to sovereign wealth and hedge-funds, has driven up valuations of many unprofitable startups, Jeffrey Jaensubhakij, group chief investment officer of GIC Pte., said in an ...

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• 14 July

  Apple fails to tempt Indian consumers

  

  Bloomberg Apple Inc. has lost a trio of pivotal executives in India in recent weeks as it struggles to boost iPhone sales in the world’s fastest-growing major smartphone market, people familiar with the matter say. Among the executives who’ve departed are its national sales and distribution chief, the head of its commercial channels and mid-market business, and the head of ...

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• 14 July

  Tesla, BMW bypass Trump’s trade war, score a win for China

  

  Bloomberg Less than a week into President Donald Trump’s trade war with China, global automakers have shown there are ways to bypass the battle — and scoring a win for Beijing in the process. Tesla Inc. and BMW AG are among the biggest potential losers from Beijing’s retaliatory tariffs on car imports from the US because much of their production ...

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