July, 2016

• 12 July

  MoF, ADGM sign agreement on automatic exchange of information for tax purposes

  

    Abu Dhabi / WAM Following its commitment to exchange tax information according to international requirements and sign agreements on the avoidance of double taxation, the Ministry of Finance (MoF) recently signed a Memorandum of Understanding with Abu Dhabi Global Market (ADGM) on the automatic exchange of information (AEoI) for tax purposes on ADGM premises. The MoU was signed by Younis ...

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• 12 July

  ENOC awarded for innovative jet refuelling hydrant servicers

    Dubai / Emirates Business Emirates National Oil Company (ENOC) won the Ideas Arabia Competition 2016 in the ‘Health & Safety’ category for its innovative idea in the design and deployment of specialised jet refuelling hydrant servicers for the smaller-sized Boeing 737 aircraft. The unprecedented advanced system allows for faster and safer refuelling of aircrafts reflecting ENOC’s commitment to HSE ...

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• 12 July

  Dubai Municipality ‘Smart Search’ to help enhance town planning

    Dubai / WAM As part of its efforts towards pioneering a sustainable and smarter city by embracing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, Dubai Municipality, with the help of Microsoft SharePoint, launched DM Smart Search, a unified portal that provides access to vital information from across ...

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• 12 July

  Global stocks erase Brexit losses; Investors bail on bonds, yen

  

    Bloomberg Global stocks erased losses sparked by the U.K.’s secession vote, the Dow Jones Industrial Average topped its closing record and commodities joined a rally in risk assets on the prospect of stimulus in major economies. Government bonds sank with the yen. The MSCI All-Country World Index reached its highest level since June 23, while the S&P 500 Index ...

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• 12 July

  OPEC sees tighter 2017 oil market, Brexit drag on economy

  

    LONDON / Reuters OPEC on Tuesday gave an upbeat outlook for the oil market in 2017, saying global demand for its crude would be higher than its current production and pointing to a supply deficit rather than a sizeable surplus that has weighed on prices. However, the Organization of the Petroleum Exporting Countries in a monthly report also cut ...

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• 12 July

  Gulf bourses end higher on oil prices; profit-taking drags Egypt

  

    DUBAI / Reuters Gulf bourses benefited from recovering oil prices to all close higher on Tuesday, although Egypt’s exchange stumbled for a second day as investors took profits from a rally inspired by future currency devaluation speculation. Crude rose from the near-two-month lows hit the previous day: Brent crude was up $1.29 at $47.54 per barrel at 1218 GMT. ...

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• 12 July

  UAE agents lead the way in travel tech trends

  

    RITIKA SHARMA / Emirates Business The UAE is not only doing exceptionally well in terms of tech-aided travel solution, but also emerging as a trendsetter for innovative technology-based services in the regional travel industry, experts believe. The country has proved that the right technology mix can make a huge difference and strengthen the travel industries across countries, they opine. ...

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• 12 July

  Huawei, Dubai South ink pact on Smart City innovation

  

    DUBAI / Emirates Business Leading global ICT solutions provider Huawei has signed an MOU with Dubai South to bring future-city capabilities and services to Dubai South’s Business Park Free Zone. Located at the gateway of Dubai South and comprising 11 modern buildings, the Business Park offers commercial space to support diverse sectors including aviation, logistics, general trading, finance, business ...

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• 12 July

  Air Miles undergoes digital revamp

  

    Emirates Business Air Miles — the region’s leading loyalty programme — has transformed its entire platform to digital, creating a sophisticated, user friendly app and website to make Air Miles more convenient and valuable to customers and business. The app, Air Miles ME, is available on Android and iOS and can be used when shopping with Air Miles partners ...

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• 12 July

  Nissan cuts carbon emissions by 22.4pc

  

    DUBAI / Emirates Business Nissan Motor Co., Ltd. published its annual Sustainability Report showing that the global automaker’s carbon dioxide (CO2) emissions have fallen by 22.4% over the past decade. Nissan’s success in reducing emissions, promoting zero-emission vehicles and saving energy at its facilities has made it the highest-performing automotive company tracked by the Carbon Disclosure Project, which works ...

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