July, 2017

• 30 July

  UAE’s transport projects value reaches $87 billion in first half

  

  DUBAI / Emirates Business The total value of 481 active transport projects exceeded AED 321.49 billion ($87.6 billion) in the first half of 2017, according to BNC Network, – the largest and most comprehensive construction intelligence service in the Middle East and North Africa (MENA) region. Of these, 364 projects with a combined value of $36.5 billion are road projects ...

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• 30 July

  Dubai tourist arrivals jump 10.6% to 8.06mn in first half

  

  DUBAI / Emirates Business A record total of 8.06 million international overnight tourists arrived in Dubai during the first six months of 2017, reflecting a stellar 10.6 percent increase over the same period last year. Figures released by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) affirm the foundational strength, and sustained acceleration of the emirate’s tourism sector, as ...

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• 30 July

  DCCI promotes Dubai as global industrial hub in Russia

  

  DUBAI / Emirates Business The Dubai Chamber of Commerce and Industry (DCCI) participated in INNOPROM 2017, Russia’s largest international industrial trade fair, as part of its efforts to showcase Dubai’s potential as a global hub for emerging industries. The conference and exhibition, held in Ekaterinburg, featured a Dubai Chamber stand which provided visitors with an overview of the Dubai Industrial ...

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• 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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