July, 2018

• 9 July

  Adnoc Distribution wins ISO certification

  

  Abu Dhabi / Emirates Business Adnoc Distribution announced it has been awarded the International Organization for Standardization Certification (ISO 50001) for its world class Energy Management System (EnMS). The certificate was presented to Adnoc Distribution’s Acting CEO Saeed Mubarak Al Rashdi by Matthew Skinner, Regional Managing Director (Gulf and Pakistan), Intertek Certification, an international accredited certifying body. The ISO 50001 ...

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• 9 July

  Business Park at Dubai South sees 400% growth in number of firms

  

  Dubai / WAM The Business Park at Dubai South recorded a 400% growth in companies operating in the park since its inception in early 2015 with the number of companies increasing from 900 in 2015 to 4,500 in 2018. An average of 1,500 new companies has joined the park each year. The park also has a high customer retention rate ...

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• 9 July

  Dubai non-oil private sector growth improved in June

  

  Dubai / WAM The health of the non-oil private sector in Dubai improved at a marked rate in June. Although the headline index fell from May’s recent peak, reflecting easing travel and tourism growth momentum, stronger expansions were registered in both the wholesale and retail and construction sectors. Furthermore, business confidence accelerated to a survey-record high in June amid a ...

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• 9 July

  US stocks rally as greenback strengthens, Treasuries slip

  

  Bloomberg US equities joined a global rally that began in Asia as investors set aside concern about escalating trade tensions to focus on the coming earnings season. The pound erased gains after pro-Brexit official Boris Johnson quit as UK foreign secretary. The S&P 500 Index rose to the highest since mid-June and the Dow Jones Industrial Average popped through key ...

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• 9 July

  China stocks rebound with biggest gain since 2016

  

  Bloomberg Chinese large cap stocks climbed the most in two years, bouncing back from a bruising run of losses in the lead up to the imposition of US tariffs from July 6. The yuan also rose after retreating for four weeks straight. The Shanghai Composite Index jumped 2.5 percent, the most since May 2016, following seven weekly declines in a ...

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• 9 July

  Samsung opens world’s largest mobile phone factory in India

  

  Bloomberg Samsung Electronics Co. opened the world’s largest mobile phone factory in India, in a win for PM Narendra Modi’s flagship programme to lure investors to manufacture in the South Asian nation. The factory was inaugurated by Modi and South Korean President Moon Jae-in during their visit to the facility located at the outskirts of Delhi. This will double Samsung’s ...

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• 9 July

  China to reimburse soy tariffs for state reserve

  

  Bloomberg China will reimburse the buyer for the cost of the 25 percent tariff on soybean imports from the US if the cargoes are for state reserves, according to people familiar with the matter. Extra duties were applied to a range of US farm products from July 6 in retaliation for President Donald Trump’s tariffs on $34 billion of Chinese ...

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• 9 July

  Alibaba in talks with BT for cloud deal

  

  Bloomberg Alibaba Group Holding Ltd. is in talks with BT Group Plc about a cloud services partnership as the Chinese internet giant challenges Amazon.com Inc.’s dominance in Europe. An agreement between Alibaba and the IT consulting unit of Britain’s former phone monopoly could be similar to Alibaba’s existing arrangement with Vodafone Group Plc in Germany, according to a person familiar ...

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• 9 July

  Typhoon Maria spurs heavy rain in Taiwan

  Bloomberg A fierce typhoon is headed in the direction of Taiwan, spurring warnings over extreme weather that risks shuttering schools, businesses and the stock exchange. Super Typhoon Maria could bring strong winds and heavy rains to northern and central Taiwan in the coming days, Central Weather Bureau specialist Judy Wuu said. Taipei, the political and business capital, is on the ...

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• 9 July

  Nissan finds ‘misconduct’ in exhaust, fuel economy tests

  

  Bloomberg Nissan Motor Co., the Japanese carmaker that was embroiled in a vehicle-inspection scandal last year, said it uncovered some instances of misconduct involving falsified data about exhaust emissions and fuel economy. The data falsification, which occurred on 19 models across five plants in Japan, was found out when the company was carrying out an internal check about employees conducting ...

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