August, 2016

• 3 August

  Ajman Free Zone kick starts its ‘Business Centre’

    AJMAN / WAM Ajman Free Zone launched its newest product, ‘The Business Centre’, a kick-starter pack for those looking to open companies in the country. The plan aims to contribute towards aiding entrepreneurs in establishing companies, and increase the rate at which companies start up in the city. It intends to do this by offering prices that are less ...

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• 3 August

  Let the geeks watch over the internet

  

    As Russian intelligence agencies escalate their use of the US-created internet as a tool of political sabotage, it’s haunting to recall the famous communist dictum: “The capitalists will sell us the rope with which we will hang them.” Against this menacing background, the subject of internet governance — long an arcane topic of discussion among geeks and technologists — ...

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• 3 August

  Abandon Trump to safeguard democracy

    The saying goes like this: counting other people’s sins does not make you a saint. And it defines Donald Trump, the Republican presidential candidate. Trump, a political neophyte, has attacked anything and everything during his primary campaign preceding nomination. He is uncouth, impulsive and belligerent. And he does not mince words. And yes, he shoots from the hip. Many ...

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• 3 August

  Mervyn King’s new job

  

    One of the most famous and incisive critics of the banking industry has now taken a job as an adviser to a bank. The outcry that has followed is not only unjustified but also bewildering. Mervyn King, former governor of the Bank of England, has stirred controversy with his new job at Citigroup. Critics say such moves create a ...

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• 3 August

  A year after crash, China has new bubbles, old tools

  

    The collapse of China’s stock markets a year ago was eye-catching, but in the end, hardly earth-shattering. Despite the pain for millions of retail investors, the fact is that stocks remain a small part of the financial system in China. Their brief, giddy rise and spectacular collapse never really threatened the wider Chinese economy, let alone the global financial ...

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• 3 August

  Stocks fluctuate as crude rebounds to $40; emerging assets drop

  

    Bloomberg US stocks fluctuated near an all-time high, while a rebound in crude oil lifted energy producers and gold snapped its longest rally in six weeks. The rally in global bonds faltered. The S&P 500 Index swung between gains and losses as retailers stumbled a second day on lackluster quarterly results. Crude rose past $40 a barrel after U.S. ...

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• 3 August

  Egypt closes at 1- high on IMF hopes, Gulf sags

    DUBAI / Reuters Egypt’s stock market closed at a one-year high on Wednesday on optimism among local investors that a loan deal with the International Monetary Fund would boost the economy, while weak oil prices and global bourses pushed Gulf bourses down further. Cairo’s main index jumped 1.6 percent to a one-year high of 8,105 points in rising turnover, ...

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• 3 August

  UAE’s non-oil private sector accelerates to a ten-month high

  

    Dubai / WAM Growth of the UAE’s non-oil private sector accelerated to a ten-month high in July. Sharp expansions of output and new work helped the sector to gather momentum, alongside quicker rises in purchasing activity and employment. Notably, the rate of job creation was the fastest in over a year. Meanwhile, purchasing costs continued to increase solidly. The rate ...

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• 3 August

  ECIFD seizes 503 fake passports at Dubai airport

    Dubai / WAM A total of 503 fake passports were seized during the last six months by the Expertise Centre Identity and Fraud Documents (ECIFD) system at Dubai International Airport, according to a top official. During an inspection visit to the ECIFD, Major General Mohammed Al Marri, Director-General of the General Directorate for Residency and Foreigners Affairs in Dubai, GDRFA-Dubai, ...

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• 3 August

  Honeywell’s ‘flying technology lab’ comes to Dubai

    Dubai / Emirates Business In line with its commitment to support aerospace innovation across the Middle East, Honeywell (NYSE:HON), has brought its industry-leading test aircraft to Dubai for a three-day stop as part of final testing for a revolutionary new GX Aviation, high-speed inflight Wi-Fi network arriving to airlines and business jets later this year. Honeywell has a long ...

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