July, 2017

• 4 July

  AFZ to raise SME portfolio by 30% through global drive

  

  Ajman / Emirates Business Ajman Free Zone (AFZ), on Tuesday announced that it has launched a new focused initiative through its overseas offices to woo small and medium enterprises (SMEs) which are potentially looking to expand globally and particularly to tap the local and re-export potential of the Middle East and North Africa (MENA) markets. In a statement, AFZ said ...

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• 4 July

  Dubai Customs attains new ISO in customer satisfaction

  Dubai / WAM Dubai Customs added an accolade to many accreditations and unprecedented achievements it has by attaining the ISO 10004:2012 customer satisfaction standard. Ahmed Mahboob Musabih, Director of Dubai Customs received the certificate from Tuv Intercert, the international independent certification group. ISO 10004:2012 standard provides guidance in defining and implementing processes to monitor and measure customer satisfaction. Identification of ...

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• 4 July

  Abu Dhabi Post Offices attract higher number of customers

  Abu Dhabi / WAM Abu Dhabi Post Offices, which fall in the 1st Postal Zone of Emirates Post, continue to attract hordes of customers as it offers over 70 postal and non-postal services. Operating since 1963, the Abu Dhabi Central Post Office is a hub for government services, such as those of Immigration Department and Emirates Identity Authority. The most ...

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• 4 July

  Cityland gets AED524 million funding for Dubai mall project

  

  Dubai / Emirates Business Cityland Group on Tuesday announced a major financing milestone for the $330 million flagship retail project — Cityland Mall — from a consortium of banks consisting of Emirates NBD as the lead bank and Burgan Bank from Kuwait. The loan, which totals $142.74 (AED524mn) million in value, will be utilized for covering the ongoing project cost ...

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• 4 July

  Court rebukes EPA for shelving Obama-era methane regulation

  

  Bloomberg A US appeals court rebuked the Environmental Protection Agency for unilaterally suspending Obama-era methane emissions regulations while the regulator reviewed the rule. The Washington-based panel’s 2-1 majority called the EPA’s move both unauthorized and unreasonable. It granted a request from six environmental groups to allow the rule to remain in place. The decision is the latest blow to the ...

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• 4 July

  Chad seeks delayed repayments on Glencore-led oil loans

  

  Bloomberg Chad is seeking to delay repayment of more than $1 billion of Glencore Plc-led oil-for-cash loans after crude prices plunged, the second time the African country has looked to restructure the debt in two years, according to people familiar with the matter. Glencore has approached the banks that supported the deal to start talks, while Chad has already appointed ...

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• 4 July

  EON’s old nuclear money spinners are now just a big hassle

  

  Bloomberg An EON SE nuclear plant that made billions for the German utility is now losing money. Essen-based EON is battling repeated delays to production at its Brokdorf reactor that has cost the company more than 100 million euros ($114 million) since halting in February, Almut Zyweck, a spokeswoman for EON’s nuclear unit, said by email. Brokdorf, a 1.4-gigawatt reactor ...

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• 4 July

  Oil halts longest winning streak this year

  

  Bloomberg Oil snapped its longest run of gains this year as OPEC output rose amid a boost from members exempt from supply cuts. Futures slid 0.5 percent in New York after advancing almost 11 percent the previous eight sessions. OPEC production in June climbed to the highest level this year because of increases from Libya and Nigeria, which aren’t bound ...

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• 4 July

  Germany’s Russian gas fix raises alarm in Merkel’s backyard

  

  Bloomberg Hidden by pine forests near the deserted site of what was once East Germany’s biggest nuclear reactor, two shiny pipelines emerge from the Baltic Sea to mark the spot where Chancellor Angela Merkel is trying to secure the country’s energy future. Not far from the Hanseatic town of Greifswald — an area Merkel represents in parliament — the chancellor ...

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• 4 July

  Slowing inflation restrains India’s robust growth record

  

  Bloomberg India’s economy is struggling to recover its strong growth record, beset by record low inflation, a widening output gap, and short term uncertainty from the introduction of a uniform sales tax. That will build pressure on the Reserve Bank of India to jettison its neutral monetary policy bias adopted just five months ago, setting the scene for lowering interest ...

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