August, 2017

• 19 August

  Healthcare projects worth $55bn in pipeline in MENA

  

  Dubai / Emirates Business As much as $55.2bn worth of healthcare projects are in the pipeline in the Middle East and North Africa (MENA) region in 2017, with major new developments expected to be annou- nced at the forthcoming Build- ing Healthcare Innovation & Design Show. According to the latest industry estimates, a total of 37 mega hospital projects are ...

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• 19 August

  ADFD allocates AED1.2 billion for 18 development projects in Afghanistan

  

  ABU DHABI / WAM Spanning crucial sectors, such as agriculture, housing, energy, transport, industry and health as well as social services, to date, the Abu Dhabi Fund for Development (ADFD) has allocated AED1.2 billion in Abu Dhabi government grants and concessionary loans to 18 development projects in Afghanistan. According to an ADFD country report marking Afghanistan’s Independence Day on August ...

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• 19 August

  DGCX to launch region’s first Shariah-compliant spot gold contract

  DUBAI / WAM The Dubai Gold & Commodities Exchange (DGCX) and Ayedh Dejem Group, a conglomerate from the Kingdom of Saudi Arabia, have agreed to develop and launch the Middle East’s first-ever Shariah-compliant spot gold contract to be traded on an international exchange. The partnership enables both entities to increase their presence in the Saudi Arabian and wider GCC Islamic ...

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• 19 August

  Sharjah FDI Forum to discuss investment trends

  

  SHARJAH / wam The Sharjah FDI Forum 2017 will host a series of panel discussions conducted by regional and international investment experts. The annual foreign direct investment (FDI) event is held under the patronage of HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. Taking place on September 19 and 20, the third Sharjah ...

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• 19 August

  Awareness sessions on VAT for real estate sector held

  

  ABU DHABI / WAM The Abu Dhabi Chamber of Commerce and Industry, in co-operation with the Federal Tax Authority, has organised an awareness workshop on applying the tax system in the UAE, titled “VAT for Real Estate Sector and Registration Mechanism.” The workshop aimed at spreading awareness among real estate companies on the mechanism of applying value added tax (VAT) ...

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• 19 August

  Wal-Mart gives tepid outlook as grocery race heats up

  

  ­­­­­­­­­­­Bloomberg Wal-Mart Stores Inc., racing to fend off Amazon.com Inc. and a fresh attack from European grocery discounters, gave a lukewarm earnings forecast for the third quarter, a sign that heavy spending aimed at maintaining its edge is taking a toll. The shares slid recently after the retail giant said that profit will be 90 cents to 98 cents a ...

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• 19 August

  Uber’s Kalanick calls investor Benchmark lawsuit a ‘fabrication’

  

  Bloomberg Uber Technologies Inc.’s co-founder Travis Kalanick fired back at investor Benchmark, saying its lawsuit seeking to oust him from the ride-hailing company’s board is based on “a fabrication” and accused the firm of threats and intimidation. Upping the ante on his fight with the venture capital firm, which holds a 13 percent stake in Uber, Kalanick said that Benchmark ...

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• 19 August

  UK to give more Brexit plan details

  

  ­­­­­­­­­­­Bloomberg The UK is preparing to give further details of its approach to Brexit next week when it lays out positions in at least three different areas that it wants to negotiate with the European Union. Prime Minister Theresa May’s government will publish two papers on Monday with more expected in the following days, as Britain and the EU gear ...

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• 19 August

  Health startup Medopad raises funds with UBS

  Bloomberg Medopad Ltd., backed by pharmaceuticals giant Bayer AG, is looking to raise new funds, joining the clutch of fast growing UK startups that are mixing artificial intelligence and health care. A London-based mobile platform for health-care companies, insurers, doctors and patients, Medopad is working with UBS Group AG to raise up to $30 million from private investors, according to ...

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• 19 August

  UK McDonald’s set for first strike

  

  Bloomberg McDonald’s Corp. workers at two restaurants in England have voted in favour of a strike, in what would be the first industrial action by staff of the American fast-food chain in the UK. Employees at one site in Crayford, near London, and a second in Cambridgeshire were balloted following a dispute over the use of zero-hour contracts and the ...

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