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DUBAI / Emirates Business Noor Bank, one of the leading Shari’ah-compliant banks in the UAE, has entered a strategic partnership with National Bonds Corporation, a renowned investment company, to launch a first-of- its-kind initiative in the UAE that allows customers to purchase Shari’ah-compliant investment products using credit cards. Starting 15 August 2019, the new scheme enables Noor Bank credit card ...

Bloomberg China said recent violence in Hong Kong protests was the “creation of the US,” for the first time laying direct blame on Washington as their dispute over the unrest escalates. Chinese Foreign Ministry spokeswoman Hua Chunying made the remark at a news briefing in response to comments by US Secretary of State Michael Pompeo. The top American diplomat had ...

Bloomberg Huawei Technologies Co reported a 23 percent rise in revenue to 401.3 billion yuan ($58 billion) in the first half as the Chinese telecommunications giant withstood US efforts to curb its business. The profit margin for period was 8.7 percent in the six months ended in June, the Shenzhen-based company said in a statement. Smartphone shipments for the half ...

Bloomberg The UK government has a message for British sheep farmers worried about the impact of a no-deal Brexit: Look East. “I would point to the market in Japan, that has just been opened to Welsh and British sheep,” Welsh Secretary Alun Cairns told BBC Radio. “That is a significant market for which we haven’t really scratched the surface yet.” ...

Bloomberg When Apple Inc launches a new iPhone, that usually means rising revenue. Chances are that won’t happen this year. Apple was expected to report fiscal third-quarter results on Tuesday, but all eyes will be on its forecast for the fiscal fourth quarter. That’s when the Cupertino, California-based technology giant is expected to release new versions of its flagship handset. ...

Bloomberg More than half of the Trump administration’s trade war aid for farmers went to just a 1/10 of the recipients in the program, according to analysis of payments by an environmental organisation. Eighty-two farming operations received more than $500,000 in payments through April under the US Agriculture Department’s Market Facilitation Program, according to the Environmental Working Group, which analysed ...

Bloomberg Surescripts, a company that enables electronic prescribing of drugs, terminated its contract with a vendor that it says improperly requested access to patients’ medication histories to give to Amazon.com’s PillPack subsidiary. Surescripts, which is partially owned by two of the largest pharmacy-benefit managers, said in a statement it has alerted the FBI and stopped its vendor, ReMy Health, from ...

DUBAI / WAM Dubai Economy has unveiled a platform initiative to facilitate research and development (R&D) collaboration between the different ecosystem operators in the emirate, which is expected to accelerate innovation in Dubai. It is also aimed at consequently supporting the mission and strategy of Dubai Economy to promote the competitiveness and sustainable growth of the local economy. Khalid Al ...

DUBAI / WAM Dubai Mercantile Exchange (DME) on Monday announced a 45 percent increase quarter-on-quarter in trading activity on the exchange’s forward curve and a 33 percent growth in exchange average daily volume (ADV) during the first half of 2019. Forward curve volume reached 208,997 contracts from April 2019 through June 2019 versus 143,703 contracts traded in Q1 2019. Exchange ...

DUBAI / WAM Dubai Land Department (DLD) has signed a partnership agreement with Online Auction company to boost the real estate market’s activities, and provide new competitive options that enhance investor confidence. The strategic partnership agreement that was signed by Sultan Butti bin Mejren, Director General of DLD, and Ahmad Mustafa Ahli, Owner of Online Auction, will impact on achieving ...