July, 2017

• 30 July

  Mashreq launches digital mobile wallet

  DUBAI / Emirates Business The UAE’s market leader in innovation, Mashreq Bank, announced the launch of MashreqPay — a digital mobile wallet providing secure easy-to-use payment for purchases, anywhere in the world where cards are accepted and the merchant terminal has NFC (near-field-communication) capability. Since 2014, when Mashreq launched the first mobile contactless payment wallet with its Tap-n-Go sticker, the ...

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• 30 July

  UAE submits candidacy for membership into IMO

  Abu Dhabi / Emirates Business The UAE has officially submitted its candidacy for membership into the International Maritime Organization’s (IMO) Category B during its participation in the organization’s General Meetings held in London. The plenary sessions, which was chaired by His Excellency (HE) Abdullah Belheif Al Nuaimi, Minister of Infrastructure Development and Chairman, Federal Authority for Land and Maritime Transport, ...

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• 30 July

  Dubai real estate deals hit AED132bn

  

  Dubai / Emirates Business Dubai Land Department (DLD) has released its H1 2017 Transactions Report up until June 30, through the Real Estate Research and Studies Department, announcing that total real estate transactions for this period reached a value of AED 132 billion, achieved through 35,571 sales, mortgages and other transactions. The report reveals that the market has achieved a ...

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• 30 July

  Tesla’s Model 3 arrives with a surprise 310-mile range

  

  Bloomberg Three hundred ten. That’s the electric range of a $44,000 version of Tesla’s Model 3, unveiled in its final form on July 28 night. It’s a jaw-dropping new benchmark for cheap range in an electric car, and it’s just one of several surprises Tesla had in store as it handed over the keys to its first 30 customers. Tesla ...

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• 30 July

  BT pitches $788-mn plan for faster rural broadband in UK

  

  Bloomberg BT Group Plc is proposing a 600 million-pound ($788 million) plan to bring faster Internet coverage to the rural UK, to be paid for by charges to other broadband users. The former phone monopoly’s Openreach wholesale division by 2020 would build connections enabling broadband download speeds of at least 10 megabits per second for almost all of the remaining ...

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• 30 July

  AT&T names executives to lead businesses following $85.4 bn Time Warner merger

  

  Bloomberg AT&T Inc. named three new divisional chiefs to lead the company when its $85.4 billion takeover of Time Warner Inc. closes later this year. As reported earlier by Bloomberg News, John Stankey, who ran AT&T’s DirecTV division, will supervise integration planning for the merger and lead the Time Warner businesses after the deal closes, the company said. John Donovan, ...

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• 30 July

  UK workers’ income facing stagnation

  

  Bloomberg Since the financial crisis, it pays to be old in the UK. While the disposable incomes of retired households have risen 15 percent since 2008, for working households it’s been almost a decade of stagnation. Median UK household disposable income rose 5.7 percent to 27,170 pounds ($35,570) in the 12 months through March from its pre-crisis level, the Office ...

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• 30 July

  SoundCloud moves closer to sell stakes to private equity

  

  Bloomberg SoundCloud Ltd. is close to a deal to sell stakes in the company to a pair of private equity firms, according to people familiar with the matter, an investment that will help the beleaguered music-streaming service keep operating for the foreseeable future. The two firms would be acquiring stakes via separate deals, said the people, who asked not to ...

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• 30 July

  China bets Trump won’t resort to strike against North Korea

  

  Bloomberg China is betting that US President Donald Trump won’t make good on his threats of a military strike against North Korea, with Beijing continuing to provide a lifeline to Kim Jong Un’s regime. Secretary of State Rex Tillerson singled out China and Russia as “economic enablers” of North Korea after Kim on Friday test-fired an intercontinental ballistic missile for ...

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• 30 July

  Turnbull: Australia foils plot to ‘bring down’ plane

  Bloomberg Australian counter-terrorism agencies have foiled a plot to “bring down” a plane in a terrorist attack, Prime Minister Malcolm Turnbull says. Four men were arrested on Saturday night by counter-terrorism officers in raids on four Sydney properties over an alleged plot to blow up an aircraft. “My number one priority, and that of my government, is the safety and ...

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