July, 2018

• 2 July

  Singapore’s Trax raises $125mn pre-IPO funding

  Bloomberg Trax, a Singapore-based startup serving the retail industry, raised $125 million in a funding round led by Boyu Capital as it advances plans for an initial public offering. The IPO could take place in the next 18 to 24 months and the company is already in talks with both the Nasdaq and New York Stock Exchange, CEO Joel Bar-El ...

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• 1 July

  UAE provides urgent food aid to Somalia

  PUNTLAND / WAM Teams from the Khalifa bin Zayed Al Nahyan Foundation have begun the distribution of emergency relief assistance to Somali families in villages in Puntland State, northeastern Somalia, as part of phase two of a campaign launched to assist those ravaged by drought in the region. 900 tonnes of food aid is being delivered to help recipients endure ...

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• 1 July

  Automakers call on US to forgo car tariffs

  

  Bloomberg BMW AG and Hyundai Motor Co urged the US not to impose tariffs on auto imports, joining General Motors Co in pressing their case to the Commerce Department even as a top aide to President Donald Trump dismissed the concerns as “smoke and mirrors.” “It seems that the threat to impose these sanctions is designed to achieve certain goals,” ...

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• 1 July

  Credit lending to industrial, business sectors up 3.4%

  Abu Dhabi / WAM The balance of loans lent by banks operating in the UAE to the industrial and business sectors rose 3.4 percent at the end of May 2018 to AED 774.5 billion, from AED748.9 billion in December 2017, according to figures released by the UAE Central Bank (CBUAE) on Sunday. The two sectors borrowed 48 percent of aggregate ...

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• 1 July

  SCA, ministry to launch platform for funding SMEs

  

  ABU DHABI / WAM The Securities and Commodities Authority (SCA) is working with the Ministry of Economy (MoE) and the Organisation for Economic Co-operation and Development (OECD) to launch a new international initiative to create a platform for funding small and medium-sized enterprises (SMEs), said Dr Obaid Al Zaabi, CEO of the SCA. In his statement to the Emirates News ...

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• 1 July

  Strong ties among Arab countries vital to future food security in Mena

  

  DUBAI / Emirates Business HE Mariam bint Mohammed Almheiri, Minister of State for Future Food Security, said that the future food security of the Middle East and North Africa region (Mena) depends primarily on strengthening economic and trade cooperation between regional countries, and elevating these ties to newer heights, especially in agriculture and agricultural production. “With similarities in the climatic ...

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• 1 July

  Report confirms UAE’s strong human rights record: Hanif Al Qasim

  

  Dubai / WAM Dr Hanif Hassan Al Qasim, Chairman of the Geneva Centre for Human Rights Advancement and Global Dialogue, said that the adoption by the United Nations of the UAE’s Universal Periodic Review Report reflects the country’s leading record in human rights. In a statement, Dr Al Qasim praised the UAE leadership’s efforts in human rights development, which it ...

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• 1 July

  DIFC to host second edition of Global Financial Forum in March

  

  Dubai / WAM Dubai International Financial Centre (DIFC), announced that the second edition of its Global Financial Forum (GFF), will be held on March 11, 2019, in Dubai. The forum will be held under the theme, ‘Unlocking Opportunities in a Changing World’, in partnership with the Financial Times, one of the world’s leading business news organisations. Through this partnership, the ...

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• 1 July

  Dubai launches smart system to issue export food health certificates

  

  Dubai / WAM The Food Safety Department of Dubai Municipality launched a smart system that allows customers to print their export health certificates for food electronically, without the need to visit its offices to print hard copies. Essam Al Hashimi, Head of the Food Trade Control Section at the Food Safety Department of Dubai Municipality, stressed that the new smart ...

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• 1 July

  Etisalat launches free ‘Talking Bill’ service for ‘visually impaired’

  Abu Dhabi / WAM Etisalat on Sunday announced the launch of a ‘Talking Bill’ service that enables visually impaired customers to access bill summary details of their account free of charge. Customers can subscribe to the service at no extra cost by dialling 101 or visiting any of Etisalat’s retail stores. Upon successful activation, customers will get from the following ...

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