September, 2017

• 30 September

  WTO probes Canadian jet subsidies in Bombardier blow

  Bloomberg The World Trade Organization approved Brazil’s request to investigate Canada’s alleged use of more than $3 billion in government subsidies to produce Bombardier Inc. aircraft. The South American nation began WTO consultations in February, saying Canada ran afoul of trade rules because its policies unfairly bolstered the domestic aerospace industry to the detriment of Brazilian planemaker Embraer SA. Canada ...

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• 30 September

  Wal-Mart ‘strategy’ to win over moms

  

  Bloomberg Wal-Mart Stores Inc. has just fired a broadside in the battle for your baby’s bottom. The world’s biggest retailer is going after the new parents who typically shop at rival Target Corp. with dozens of new products for infants—including bedding and a softer, more absorbent diaper that took more than a year to design. Wal-Mart said that it’s overhauling ...

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• 27 September

  Expat remittances from UAE hit AED78bn in H1

  

  ABU DHABI / WAM The total value of remittances by foreign workers in the UAE reached some AED78 billion during the first half of 2017, representing 48.5 percent of the total balance of payments in the country in 2016 of AED160.8 billion. The UAE Central Bank announced that the same figure reached AED40.8 billion during the second quarter of 2017, ...

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• 27 September

  UAE ranked first globally in ‘efficiency of government spending’ index: MoF

  

  ABU DHABI / WAM The Ministry of Finance (MoF) announced that the UAE was ranked first in the ‘Efficiency of Government Spending’ index, a sub-criteria of the World Competitiveness Report 2017- issued by the World Economic Forum (Davos) in Switzerland, having ranked second for three previous years. Since 2010, the UAE has achieved high rankings among the top 10 countries in ...

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• 27 September

  Waha Capital acquires $55mn stake in fintech firm

  Abu Dhabi / WAM Waha Capital, an Abu Dhabi-based investment company, has acquired a significant minority stake in Dubai-based Channel VAS, a rapidly growing financial technology company. Waha Capital’s new investment is approximately $55 million. The acquisition adds to the diversification of Waha Capital’s principal investment portfolio, which holds stakes in several companies, including New York-listed aircraft leasing firm AerCap ...

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• 27 September

  Excise tax to go into effect from October 1

  Dubai / WAM The planned Excise Tax is set to go into effect at the beginning of October 2017, announced the Federal Tax Authority (FTA) at a press conference in Dubai on Wednesday. The new tax will be imposed on carbonated drinks by 50%, and tobacco products by 100% and energy drinks by 100%. The tax affects specific “Excise” goods ...

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• 27 September

  Abu Dhabi set to get first Government Academy

  ABU DHABI / WAM Abu Dhabi is to become home to the first-of-its-kind Government Academy in the UAE. The launch came during the UAE Government Annual Meetings under the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive ...

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• 27 September

  UAE takes first step towards 100-year goal

  

  Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, announced the start of the journey toward realising the UAE Centennial 2071 goals. Speaking ...

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• 27 September

  UAE launches Soft Power Strategy

  

  Abu Dhabi / WAM The UAE Soft Power Strategy was launched at the UAE government annual meetings, encompassing a national action plan that seeks to enhance the UAE’s reputation regionally and globally, and to consolidate that country’s position as an economic, cultural and humanitarian leader. H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister ...

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• 27 September

  National Strategy for Higher Education 2030 unveiled

  Dubai / WAM The UAE Government Annual Meeting on Wednesday saw the launch of the National Strategy for Higher Education 2030, put forward by the Ministry of Education. The strategy sets out to build and achieve the highest scientific and professional education standards to serve the UAE’s future generations. The strategy seeks to equip a new generation of Emiratis to face ...

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