April, 2018

• 3 April

  Here’s why blue jeans making a comeback in a yoga-pants world

  

  Bloomberg From Ralph Lauren to Calvin Klein, America’s biggest fashion labels are pinning their hopes on a blue jean revival. Across the industry, fashion brands are renewing their focus on denim, betting the wardrobe staple can be a major sales driver as jeans battle stretchy pants for supremacy from the waist down. The jeanmaking industry has been just as distressed ...

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• 2 April

  Mena to invest $574bn in energy sector by 2022

  

  DAMMAM / WAM The MENA region has committed $345 billion to critical energy projects under execution while an additional $574 billion worth of development is pla- nned over the next five years, bringing total committed and planned investments up to $919 billion to meet growing demand and demographic and urban expansions, according to MENA Energy Investment Outlook, issued by Arab ...

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• 2 April

  RAK launches petroleum licensing round

  RAS AL-KHAIMAH / WAM The Government of Ras al-Khaimah has announced the official launch of RAK’s 2018 Petroleum Licensing Round and the establishment of the new Ras al-Khaimah Petrole-um Authority, the regulator responsible for the Licensing Round tendering process and ongoing management of petroleum rights. These actions reflect the vision of HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council ...

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• 2 April

  UAE attracts AED37.8 billion FDI in 2017

  

  Dubai / Emirates Business Global investment is seeing a bumpy recovery as worldwide foreign direct investment (FDI) flows reach $1.52 trillion in 2017, according to the World Investment Report published by the United Nations Council on Trade and Development (UNCTAD). FDI to developing economies remained stable, at an estimated $653 billion, 2 percent more than the previous year. A number ...

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• 2 April

  ADFD offers $15mn aid for Tanzania road project

  

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, has extended an AED55 million ($15mn) concessionary loan to the government of Tanzania to finance the upgrade of 51km of the Uvinza-Ilunde-Malagarasi Road. The funded project is an extension to Kidaho – Ovinza Road which was funded in 2009 by ADFD as a ...

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• 2 April

  Shurooq, Nakheel collaborate to bring AED75 million retail centre in Sharjah

  SHARJAH / WAM The Sharjah Investment and Development Authority (Shurooq) and master developer Nakheel have collaborated in a joint venture, that will bring a new community retail centre to Sharjah. The project Nakheel’s first outside its home emirate of Dubai has an estimated development value of AED75 million. Under the agreement, signed on Monday by Marwan bin Jassim Al Sarkal, ...

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• 2 April

  VAT compliance driving digital transformation

  DUBAI / Emirates Business Tax authorities in GCC are starting to use sophisticated digital platforms that require taxpayers to submit data in real time or near-real time prompting firms to enhance their digital capabilities. This is changing the way businesses collect, format and report tax information, and accelerates reporting, filing obligations. Sherif El-Kilany, MENA Tax Leader at EY said, “The ...

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• 2 April

  Damac hires Barclays, HSBC for possible Islamic bonds sale

  

  Bloomberg Damac Properties Dubai Co. hired banks including Barclays Plc and HSBC Bank Plc for a possible sale of US dollar-denominated Islamic bonds, according to people familiar with the matter. The second-largest listed real estate developer in Dubai is expected to hire more banks to arrange the debt sale, which may happen as soon as this month, said the people, ...

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• 2 April

  Kremlin: Trump invited Putin to White House for summit

  

  Bloomberg US President Donald Trump didn’t just propose a summit meeting to Vladimir Putin when he called the Russian leader last month. He invited him to the White House, according to the Kremlin. “When our presidents spoke on the phone, Trump suggested having the meeting in Washington at the White House,” Kremlin foreign policy aide Yuri Ushakov told reporters on ...

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• 2 April

  Failure of ‘Dreamer’ deal may tip control of Congress

  

  Bloomberg The failure of President Donald Trump and Democratic lawmakers to strike a deal on young undocumented immigrants puts the divisive issue into the middle of some hotly contested campaigns for November’s midterm elections — ones which could tip control of Congress. A relatively small number of people are affected personally by the Deferred Action for Childhood Arrivals program that ...

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