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Abu Dhabi / WAM First Abu Dhabi Bank (FAB), notified the Qatar Financial Centre Regulatory Authority, (QFCRA), that it will relinquish its Qatar Financial Centre (QFC), branch licence and permanently close its QFC branch. According to a statement issued by FAB, the decision to close its QFC branch follows “many months of baseless actions by the QFCRA that have made it impossible ...

Dubai / Emirates Business Dubai Internet City (DIC), the Middle East’s leading technology business community, on Wednesday witnessed the launch of the first Russian Centre for Digital Innovations and Information and Communication Technologies. The centre, facilitated by the Russian Export Centre (REC), is one of the largest and only business support platforms for Russian tech firms outside Russia, and follows ...

Bloomberg Apple Inc has asked its largest suppliers to consider the costs of shifting 15 percent to 30 percent of its output from China to Southeast Asia in a dramatic shake-up of its production chain, the Nikkei reported. The US tech giant asked “major suppliers” to evaluate the feasibility of such a migration, the newspaper cited multiple sources as saying. ...

Bloomberg Tesla Inc is revamping its organisation in Asia to put more focus on China as the company prepares to start manufacturing in the world’s largest electric-car market, people familiar with the matter said. The company is dismantling its Asia Pacific business unit and forming a new division for Greater China that will cover the mainland as well as Hong ...

Bloomberg Both China’s Xi Jinping and North Korea’s Kim Jong-un have suffered from President Donald Trump’s penchant for walking away from talks. Now, he’ll have to worry about what they tell each other behind closed doors. Xi’s state visit to Pyongyang on Thursday — the first such visit by a Chinese president in 14 years — will showcase a renewed ...

Bloomberg Prime Minister Justin Trud-eau’s government decided to proceed with the construction of a major crude oil pipeline, saying the project has met strict requirements on safety and consultation with Canadian indigenous groups. Trudeau’s cabinet approved the expansion of Trans Mountain, a state-owned pipeline that runs from Alberta to Vancouver. The project will add 590,000 barrels of daily shipping capacity, ...

Bloomberg Adobe Inc. reported quarterly revenue that topped Wall Street estimates, signalling the Photoshop maker’s expanding prod-uct suite is continuing to fuel growth. Sales increased 25 percent to $2.74 billion in the fiscal second quarter from a year earlier, the San Jose, California-based company said in a statement. Analysts, on average, projected $2.7 billion. For more than a decade, Chief ...

Bloomberg New York’s Senate has passed the state’s own version of the Green New Deal — a climate bill that will set the most aggressive clean energy target in the country, more than triple the state’s solar capacity and unleash wind power off the coast. The legislation, which was approved 41-21 and is expected to clear the Democratic-led Assembly, would ...

Abu Dhabi / WAM Pakistani workers coming to work in the UAE will sign an ‘Employment Job Offer’ before the departure from their home country, according to a Memorandum of Understanding (MoU), reached between Pakistan and the UAE. According to the agreement, an Employment Job Offer will be signed by both parties prior to the individual’s departure from Pakistan, to ...

TAIZ / WAM The UAE has borne the costs of conducting more than 600 major and minor surgeries at the Al Mawasit Rural Hospital during the months of March, April and May, as well as providing other free health services provided to all citizens. A report issued by the hospital and the health office in Al Mawasit district in June ...