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DUBAI / WAM The Commercial Compliance and Consumer Protection (CCCP) sector in the Department of Economic Development (DED) announced an automatic settlement facility for traders eligible for 50% reduction on commercial fines. The announcement is in line with the declaration of 2019 as the Year of Tolerance by President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The 50% reduction ...

Bloomberg The Democratic Republic of Congo delayed the release of provisional results from last week’s presidential election as criticism of the country’s handling of the vote grew. Congolese went to the polls on December 30 to find a successor to President Joseph Kabila, who’s ruled since 2001, in an election that was already two years overdue. The central African nation ...

Bloomberg India’s economy grew at a faster pace than most major nations in 2018, and this year, it’s poised to overtake the UK to become the world’s fifth-biggest. But that journey won’t be smooth. The outcome of a general election due by May is a potential pitfall for a nation already battered by emerging market turmoil and a currency rout ...

Bloomberg India needs to resume subsidies on imported natural gas to help revive power plants that have been stranded for want of fuel and could turn into bad assets for banks, according to a lawmakers’ report. The federal government should supply the gas at lower than market rates by utilising funds from the so-called Power System Development Fund or from ...

Bloomberg Big US companies are paying higher risk premiums when they borrow and finding less demand for their bonds, a sign that investors are worried about rising wages and slow- ing economic growth hitting corporate profit growth. Companies are responding by borrowing less: they sold around $8 billion of US investment-grade debt last month, about a seventh of the average ...

Bloomberg UK mortgage approvals dipped to a seven-month low in November and unsecured credit rose at its slowest annual pace for almost four years, the Bank of England (BOE) said. The figures reflect weakening consumer confidence as fears mount that Britain could crash out of the European Union without a deal. House prices rose the least since 2013 last year, ...

Bloomberg Volvo AB, the world’s second-largest truckmaker, will set aside 7 billion kronor ($780 million) to address a faulty emissions-control component that’s worn out more quickly than expected. The charge will eat into operating income in the just-finished fourth quarter, while the drag on cash-flow will impact the coming years, the Gothenburg, Sweden-based manufacturer said in a statement issued after ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued a series of tweets on his official Twitter page regarding the eight principles of governance in Dubai. In his tweet, Sheikh Mohammed thanked all those who showed appreciation in the mark of his 50 years of service. ...

Sharjah / WAM SteelFab 2019 will witness the participation of a number of leading countries in the fields of welding and manufacturing of steel and metal. These countries will participate through national pavilions that comprise some of the largest commercial and manufacturing companies in the world. The mega-event will be hosted at Expo Centre Sharjah from January 14-17. SteelFab, which ...

ABU DHABI / WAM Under the directive of HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and President of Abu Dhabi University’s Board of Regents, Abu Dhabi University (ADU) is set to name the newest building on its Abu Dhabi Campus ‘Umm Al Emarat’, Mother of the Nation, in honour of HH Sheikha Fatima bint ...