January, 2018

• 9 January

  AED68.5mn mall opens in Al Dhait

  

  Dubai / WAM Majid Al Futtaim-the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia on Tuesday opened My City Centre Al Dhait to meet the everyday dining, lifestyle and retail needs of Ras Al Khaimah’s fastest-growing communities. Today’s inauguration marks Majid Al Futtaim’s first investment in a community and convenience focused retail and ...

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• 9 January

  Abu Dhabi to host ‘global forum for innovation in agriculture’

  

  Abu Dhabi / WAM Abu Dhabi is set to host the Global Forum for Innovation in Agriculture (GFIA Abu Dhabi 2018), which will run from February, 5-6 at Abu Dhabi National Exhibition Centre (ADNEC). The event will coincide with the UAE Innovation Month, Held under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of ...

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• 9 January

  Dubai records AED285bn realty deals

  

  DUBAI / Emirates Business The Dubai Land Department (DLD) revealed the annual results of the Dubai real estate market for 2017, with the total real estate transactions exceeding AED285 billion through 69,000 real estate transactions. Commenting on DLD’s Annual Transactions Report, which summarizes the market activity over the past year, Sultan Butti bin Mejren, Director General of DLD, said: “The ...

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• 9 January

  Emirates, flydubai to launch more connections

  

  DUBAI / Emirates Business Emirates and flydubai will offer travellers even more connectivity and flight options in 2018, with new codeshare flights planned to Krakow in Poland from April 8, and Catania in Italy from June 13. Both Dubai-based airlines currently offer customers a breadth of travel options across their complementary networks, with codeshares to 81 destinations and more to ...

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• 9 January

  Jack Ma’s firm pauses fundraising as China curbs micro-loans

  

  Bloomberg After selling billions of dollars of debt backed by consumer loans in 2017, Chinese billionaire Jack Ma’s Ant Financial is pausing such fundraising as the government steps up curbs on micro lending. The company hasn’t sold any asset-backed securities (ABS) since early December, according to data compiled by Bloomberg and China Securitization Analytics. That marks an abrupt shift after ...

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• 9 January

  Samsung misses analyst profit estimates

  

  Bloomberg Samsung Electronics Co. missed analyst profit estimates as South Korea’s surging currency and year-end bonuses outweighed display orders from Apple Inc. for the new iPhone X. Operating income was 15.1 trillion won ($14.2 billion) in the three months ended in December, missing the average of estimates by 1 trillion won. Shares fell in Seoul after the result. Samsung is ...

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• 9 January

  Baidu plugs ‘Apollo 2.0’ self-driving platform at CES

  

  Bloomberg Baidu Inc. unveiled a souped-up version of its open self-driving platform, declaring rapid progress with partners from Microsoft Corp. to TomTom NV in developing autonomous cars for China and beyond. China’s largest search engine used the Consumer Electronics Show in Las Vegas to announce an upgrade for its Apollo software, which it says will allow cars to drive on ...

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• 9 January

  Didi moves to shake up bike-sharing business

  

  Bloomberg Didi Chuxing became China’s reigning car-hailing service by pummeling Uber into submission. Now it wants to do the same in bike-sharing, joining an increasingly pitched battle between arch-foes Mobike and Ofo. Didi declared it wants to become a “comprehensive” platform for bike-sharing, co-opting struggling No. 3 player Bluegogo and starting its own two-wheeler service. That’s a departure from a ...

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• 9 January

  Renren scraps ICO after talks with China regulators

  Bloomberg Renren Inc. has cancelled a potential initial coin offering after Chinese regulators discouraged the Beijing-based social network from pursuing the plan, people familiar with the matter said. Regulators, which declared ICOs in China illegal, have held talks with Renren and other Chinese companies that sought to skirt the rules on such offerings, according to the people, who asked not ...

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• 9 January

  Trump touts tax cuts to farmers amid immigration, trade concerns

  

  Bloomberg President Donald Trump told a group of farmers that recent tax cuts and deregulation will revitalise the US rural economy. Trump’s speech at the American Farm Bureau Federation’s annual conference in Nashville was his first policy address since Congress passed the $1.5 trillion tax overhaul. He said agricultural producers, businesses and workers will all benefit from the legislation, and ...

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