March, 2017

• 21 March

  Prosecutors grill Park over corruption allegations

    SEOUL / AP South Korean prosecutors grilled the country’s just-ousted president on Tuesday in a long-awaited investigation of corruption allegations that ended her rule and now threaten to put her in jail. The questioning of Park Geun-hye came 11 days after the Constitutional Court unanimously ruled to dismiss her over suspicions she colluded with a confidante to extort money ...

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• 21 March

  A strong dollar isn’t that great for America

  

    Perhaps no other piece of economics jargon has caused as much confusion as the term “strong dollar.” The phrase suggests patriotic strength, of the USA riding roughshod over its economic rivals. In reality, dollar strength just means purchasing power — a stronger dollar lets US residents and businesses buy more things from overseas, while a weaker dollar helps them ...

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• 21 March

  Vodafone’s Indian escape act is heavy on the contortions

  

    Vodafone CEO Vittorio Colao has negotiated a partial retreat from a tough situation in India on reasonable terms. Given a bloody price war brought on by a new rival, the deal to join forces with Idea Cellular Ltd is smart even though Colao has ceded control without getting a premium. Vodafone Group Plc and Idea said on Monday that ...

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• 21 March

  Trump’s reckless threat to world trade

    Presumably at the insistence of the U.S. administration, the latest statement from the Group of 20 big economies conspicuously dropped the standard promise to “avoid all forms of protectionism.” It’s worth pausing to understand why that promise was ever worth making, and honoring. The reason is surely not that governments always keep their word. For years they’ve been backsliding ...

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• 21 March

  Brexit: Theresa May’s high-wire act

    At last, the much heralded date for UK to file divorce papers to leave European Union has been announced. British Prime Minister Theresa May will invoke Article 50 of the Lisbon Treaty, the formal process of leaving the EU, on March 29. It will start the clock on two years period, during which to complete the most important negotiation ...

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• 21 March

  Omran Properties unveils AED2.47 billion projects

  

    Sharjah / Emirates Business As part of a massive investment drive, Sharjah-based Omran Properties is to launch three real-estate projects in the emirate worth AED 2.47 billion. The unprecedented developments, the first Omran have made in Sharjah, bring new residential, retail, commercial and hospitality opportunities to Sharjah’s existing and potential investors. The company, established in 2016 through a strategic ...

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• 21 March

  UAE personal loans hit AED349bn in February

    Abu Dhabi / WAM Total volume of personal loans in the UAE increased to AED 349.9 billion in February 2017, according to a UAE Central Bank report issued on Tuesday, which affirmed the banks’ continual contribution to the overall wellbeing and growth of the economy. By providing personal and corporate finance facilities, as well as creation of jobs, the UAE ...

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• 21 March

  MoF launches phase one of tax awareness workshops

    Dubai / WAM The UAE Ministry of Finance has launched the first phase of its awareness and education workshops that will prepare businesses for the new tax system that will be introduced by the end of this year, in the case of excise tax, and early next year for value-added tax, VAT. As the UAE prepares to introduce both taxes ...

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• 21 March

  ADSIC organises future planning workshop for Abu Dhabi digital govt

    Abu Dhabi / WAM More than 120 government employees and managers, as well as top-tier experts from the private sector, attended a workshop on Future Planning for the Abu Dhabi Digital government. The workshop was hosted by the Abu Dhabi Systems and Information Centre (ADSIC) a government agency responsible for developing and managing the ICT sector in the UAE, which ...

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• 21 March

  Mohammed launches new beachfront resort

  

    DUBAI / Emirates Business Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum on Tuesday launched a new beachfront entertainment destination located at Jumeirah beach near Burj Al Arab in Dubai, that features MGM and Bellagio hotels. Sheikh Mohammed was accompanied by HH Sheikh Hamdan bin Mohammed bin ...

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