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DUBAI / WAM Dubai developer Emaar has announced plans to build the Middle East’s largest Chinatown within the retail district of its mega development Dubai Creek Harbour. Emaar’s announcement comes ahead of the visit of Chinese President Xi Jinping to the UAE on Thursday and will further strengthen UAE-China relations. The retail precinct will occupy a central location within the ...

ABU DHABI / WAM The UAE has excellent diplomatic and economic relations with China which are based on mutual cooperation, and is also keen to promote regional and international communication, to help create a bright future and achieve global security, peace and stability. Political Relations The Founding Father of the UAE, late Sheikh Zayed bin Sultan Al Nahyan sent a ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), has called on persons dealing with commercial real estate to apply the basic Value Added Tax, VAT, rate of five percent on all sales and rent of such properties, urging buyers to pay the due VAT before proceeding with the transfer of ownership. The Authority had organised an awareness tour for ...

Abu Dhabi / WAM The National Health Insurance Company, Daman, has launched a new service that allows private sponsors to renew health insurance policies of family members and domestic staff online. The service is a significant upgrade over previous iteration, launched in 2016, which limited renewals to sponsored employees in eight professions, mostly domestic staff. During its trial phase, more ...

Bloomberg Donald Trump was still dug in, unwilling to back down a day after siding with Vladimir Putin over US intelligence agencies in accepting the Russian leader’s denial of interfering in the 2016 US presidential election. That changed after a meeting between the president and Vice President Mike Pence and Secretary of State Michael Pompeo, according to a person familiar ...

Bloomberg Reliance Industries Ltd., India’s second-largest company by market value, plans to raise about $5.8 billion in fresh debt this financial year as it expands its consumer businesses, according to people familiar with the matter. The billionaire Mukesh Ambani-led company will raise funds through loans and bonds, mostly in the Indian currency, the people said asking not to be named ...

Bloomberg Swatch Group AG, the maker of Omega and Tissot timepieces, reported the highest first-half profit in three years, fuelled by Asian demand and market share gains across its collection of 18 brands. Operating profit rose 70 percent to $628 million, the Biel, Switzerland-based company said in a statement. Analysts expected 612 million francs. The stock rose as much as ...

Bloomberg The Trump administration plans to open an investigation into whether uranium imports are harming national security, a move that could lead to tariffs on foreign shipments of the metal, said three people familiar with the matter. US uranium producers Energy Fuels Inc. and Ur-Energy Inc. filed a petition in January asking the Commerce Department to investigate the matter under ...

Bloomberg UK inflation unexpectedly held at 2.4 percent last month as cheaper clothing and computer games offset the rising cost of filling up a vehicle. The pound weakened as investors pared bets that the Bank of England will raise interest rates next month. Consumer prices were unchanged from May, the Office for National Statistics said on Wednesday. Annual inflation was ...

Bloomberg The home crowd that cheered on Russia’s run to the quarterfinals of the soccer World Cup may have been too preoccupied to do much shopping. Countries staging the world’s most-watched sporting event have a poor record when it comes to economic benefits off the pitch. In the three past World Cups, South Africa — the only host nation whose ...