February, 2018

• 3 February

  Growing global trust key to UAE’s economic progress

  

  Dubai / WAM The growing local and international trust in Dubai, and the wider UAE, promises greater progress in the domestic economy, especially in the Islamic economy domain, Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of Dubai Islamic Economy Development Centre (DIEDC), at the DIEDC’s meeting. DIEDC convened its first board meeting for 2018, reviewing all the ...

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• 3 February

  UAE pledges $100mn to support education

  

  Abu Dhabi / WAM The United Arab Emirates has pledged AED 367 million ($100 million) to the Global Partnership for Education (GPE) for the next three years to improve education and learning outcomes of 870 million children and young people in 89 developing countries during the Global Partnership for Education Replenishment Conference held between 1-2 February in Dakar, the capital ...

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• 3 February

  AURAK signs deal with Al Shrooq Green Energy

  RAS AL KHAIMAH / WAM The American University of Ras Al Khaimah (AURAK) has signed a Memorandum of Understanding (MoU) with Al Shrooq Green Energy (ASGE), a UAE based company specialising in municipal solid waste (MSW) gasification technologies. The arrangement agrees to mutual cooperation in terms of sharing expertise, a pilot scaled Skid Mounted Gasification Unit (SMGU), and research on ...

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• 3 February

  UAE, Austria keen to enhance bilateral ties

  Vienna / WAM Chancellor of Austria Sebastian Kurz received His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and his accompanying delegation, as part of HH’s official visit to Austria. Sheikh Abdullah conveyed the greetings of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and ...

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• 3 February

  FTA urges businesses to complete, submit tax returns before Feb 28

  

  Abu Dhabi / WAM The Federal Tax Authority (FTA), has set up integrated electronic systems to allow Taxable Persons to register, file tax returns and pay their due taxes seamlessly. The system encourages voluntary compliance, said FTA Director General Khalid Ali Al Bustani, calling on all businesses registered with the Authority, whose first Tax Period ends on January 31, to ...

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• 3 February

  PM Modi’s election budget may push India’s interest rates higher

  

  Bloomberg India’s Narendra Modi delivered an election year budget focussed on tamping down rural discontent ahead of crucial elections, spending that could prompt the central bank to raise interest rates in the coming months. With less than a week to go before the Reserve Bank of India meets to decide on policy, Finance Minister Arun Jaitley unveiled a budget that ...

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• 3 February

  Fosun’s biotech arm mulls Hong Kong IPO

  

  Bloomberg Shanghai Henlius Biotech Inc., backed by Fosun Group, is planning an initial public offering that could make it one of the first to take advantage of proposed Hong Kong listing rules aimed at attracting early-stage drug developers, people familiar with the matter said. The subsidiary of Shanghai Fosun Pharmaceutical (Group) Co. is considering selling shares in Hong Kong as ...

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• 3 February

  India to launch healthcare scheme for 100mn poor

  Bloomberg India expects to spend up to $1.9 billion annually on premium payments to provide as many as 100 million poor families with free access to health care. The programme, which provides poor with hospital care, will be funded with 60 percent contribution from the federal government and rest coming from the states, the National Institution for Transforming India, the ...

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• 3 February

  Apple climbs on demand for iPhone X

  

  Bloomberg Apple Inc. quelled investor concern with results showing solid demand for its flagship iPhone X and a pledge to put its cash hoard to work in buybacks, dividends and acquisitions. The average selling price for the iPhone, Apple’s most important gadget, was $796 in the crucial holiday quarter. That was up from less than $700 a year earlier and ...

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• 3 February

  Tesla expands sales of solar gear

  

  Bloomberg Tesla Inc. is planning a major expansion of its solar division at Home Depot Inc., embarking on a critical test of the mainstream appeal of its renewable-energy products. The tech pioneer, best known for its electric cars, is beginning to roll out Tesla-branded selling spaces at 800 of the retailer’s locations, the company confirmed to Bloomberg News. The areas, ...

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