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ABU DHABI / WAM The patients in the UAE with chronic diseases such as cancer that require long-term treatment will heave a sigh of relief as the Ministry of Health and Prevention (MOHAP), announced a reduction in the prices of a number of medicines. The decision which has been taken in co-operation with the international pharmaceutical company, Sanofi Aventis, is ...

DUBAI / Emirates Business Emirates Gas, a subsidiary of ENOC Group, will commence the installation, supply and distribution of composite LPG cylinders within Al Khail Gate’s residential community. The project is part of an agreement between Emirates Gas and Dubai Properties (DP) signed earlier this year to supply residents with safer cooking gas cylinders. His Excellency Saif Humaid Al Falasi, ...

Bloomberg President Donald Trump has signed a tax overhaul and companies are rejoicing. But the most immediate effect of the new law could be a one-time accounting headache. Hours after the bill signing, announcements started to roll in from some of the world’s biggest companies— with some spectacular numbers. While the bill benefits most companies through a lower rate, it ...

Bloomberg Daimler AG bought a majority stake in French private-hire limousine operator Chauffeur Prive, accelerating the luxury-car maker’s expansion into ride-hailing turf occupied by firms such as Uber Technologies Inc. The German maker of Mercedes and Smart automobiles plans to acquire full control of Chauffeur Prive in 2019 once it gets regulatory clearances, Stuttgart-based Daimler said. The parties wouldn’t disclose ...

Bloomberg All over Europe, companies are wishing their workers a happy holiday and looking forward to a productive New Year when they return to work in 2018. In Brexit Britain, there’s a catch. Businesses that rely on EU countries for labour are concerned that employees will return to their families in continental Europe for Christmas—and stay there. The pound’s decline ...

Bloomberg Didi Chuxing has scored another investment from SoftBank Group Corp. in a massive funding round that will bankroll the Chinese ride-hailing leader’s exploration of new markets and technologies. Didi said it’s secured new financing of more than $4 billion. That pushed its valuation to about $56 billion and lifts cash reserves to $12 billion, people familiar with the matter ...

Bloomberg Alipay is chasing Chinese tourists to Japan, where it’s signing up a growing number of retailers and eyeing the long-term potential of the nation’s $45 billion digital payments market. The volume of payments processed on Alipay in the country swelled about eight times in the 12 months to September, said Genki Oka, Japan chief executive officer of Ant Financial, ...

Bloomberg The United Nations Security Council unanimously approved new sanctions targeting North Korea’s economy following the launch of a ballistic missile last month that Kim Jong Un’s regime said shows it can now target the entire continental US. A week after US Secretary of State Rex Tillerson called out Russia and China for their support of Kim Jong Un’s regime, ...

DUBAI / Emirates Business Emirates on Wednesday announced that it is to launch a new daily route from Dubai (DXB) to London Stansted (STN) on June 8, 2018. With its strategic position close to the tech and pharma hubs of Cambridge and Peterborough, Emirates will be the first Middle Eastern airline to operate out of the popular North East London ...

DUBAI / WAM Emirates NBD on Wednesday announced that it has been named The Banker’s ‘Bank of the Year – UAE 2017’ for the third year in a row. In a news report announcing the 2017 winners, The Banker stated that the bank “impressed the judges with its strong digital focus, as well as the way it has continued to ...