January, 2018

• 13 January

  FTA clarifies import procedures for non-registered businesses

  

  Dubai / Emirates Business The Federal Tax Authority (FTA), has clarified the import procedures for non-registered businesses, adopting the e-Dirham system for payments and e-Guarantee to provide guarantees, in order to ease processes for non-registered importers. Non-registered businesses wishing to import, are required to follow standard customs procedures and pay VAT in one of the following methods: By completing a ...

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• 13 January

  UAE opens hospital to treat Rohingyas

  ABU DHABI / WAM The Zayed Volunteers Humanitarian Hospital opened in Cox’s Bazar, Bangladesh, as part of a programme by the Zayed Giving Initiative to treat children and elderly Rohingya refugees. The United Arab Emirates is the first Arab country to set up a field hospital to serve Rohingya refugees under the supervision of a UAE-Bangladesh volunteer medical team. This ...

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• 13 January

  GM gives robo driver control

  

  Bloomberg Next year, General Motors Co. will no longer need an engineer in the front seat babysitting the robot brain that controls its self-driving Chevrolet Bolt. The steering wheel and pedals will be gone, giving total control to the machine. When GM starts testing its autonomous electric sedan in San Francisco ride-sharing fleets, it’ll likely be the first production-ready car ...

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• 13 January

  VW, Uber to use Nvidia AI for self-driving

  

  Bloomberg Nvidia Corp., trying to spread its industry-leading graphics chip technology into new areas, said Uber Technologies Inc. and Volkswagen AG will use its artificial intelligence expertise to help bring self-driving cars to the roads. Uber, the largest ride-hailing company, will use Nvidia processors and software for its forthcoming fleet of self-driving vehicles, the chipmaker’s Chief Executive Officer Jen-Hsun Huang ...

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• 13 January

  Fitbit’s smartwatch for children can track sugar level, too

  

  Bloomberg Fitbit Inc. is considering developing a wearable device for children, according to people familiar with the matter, as the company struggles to revive demand for its fitness products by pushing into new hardware categories. The product was focussed around health, a sector Fitbit has been increasingly focussed on, according to one of the people. The line of gadgets for ...

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• 13 January

  China steps up policing of multinationals over sovereignty

  

  Bloomberg China is stepping up its policing of international companies such as Inditex SA-owned Zara and Delta Air Lines Inc. and demanding they respect the government’s position on long-standing territorial disputes from Taiwan to Tibet. The Cyber Administration Office in Shanghai said Zara listed Taiwan, an island that China claims as its own, as a separate country on its website. ...

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• 13 January

  India’s Infosys profit surges 38 %

  

  Bloomberg Infosys Ltd. posted a 38 percent surge in third-quarter profit on a tax benefit and investments in digital technologies as its new chief executive officer maintained forecasts for slowing sales growth. Net income was 51.3 billion rupees ($806 million) in the three months ended in December, compared with the 36.1 billion rupee average of estimates compiled by Bloomberg. The ...

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• 13 January

  Indonesia warns against trading cryptocurrency

  

  Bloomberg Bank Indonesia is taking a firm stance against cryptocurrencies as it urges all parties to refrain from owning, selling or trading the tokens. “Owning virtual currencies is very risky and inherently speculative,” the central bank said in a statement on Saturday. The digital tokens “are prone to forming asset bubbles and tend to be used as method for money ...

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• 13 January

  China’s movie ticketing app plans $1 billion IPO

  Bloomberg Maoyan Weying, China’s biggest online movie ticketing platform, is planning a Hong Kong initial public offering that could raise about $1 billion, people with knowledge of the matter said. The company, which also helped fund the latest “Transformers” movie, has held initial discussions with potential advisers about the share sale, according to one of the people. It is targeting ...

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• 13 January

  Warning lights flash up in Asia as oil price hits $70

  

  SINGAPORE / Reuters Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some traders are sounding a warning — the world’s biggest crude consuming region, Asia, is showing signs of an impending downward correction. Prices for Brent crude oil futures, ...

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