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Dubai / Emirates Business A total of 513 new companies chose Jebel Ali Free Zone (Jafza), the region’s premier trade facilitator and hub as their operational base in 2017, reaffirming its position as a destination of choice for businesses. New companies represent a nine percent increase in Jafza’s portfolio compared with the 470 new companies that registered in 2016. The ...

Sharjah / Emirates Business The Sharjah Investment and Development Authority (Shurooq) has announced that two of its eco-luxury developments – the Kingfisher Lodge, part of the ‘Kalba Eco-tourism’ project, and the Fossil Rock Lodge, part of the second phase of the ‘Mleiha Archaeological and Eco-tourism’ project – are both nearing completion. Shurooq confirmed that the two luxury hospitality projects, which ...

Bloomberg The US and China played down the prospect of a diplomatic breakthrough to resolve their escalating trade dispute as the White House considers what demands it will present to the Chinese. Serious talks “have not really begun yet,” Larry Kudlow, head of the White House National Economic Council, told Bloomberg TV. Treasury Secretary Steven Mnuchin, in a CNBC interview, ...

Bloomberg A corporate court allowed lenders to proceed with selling some assets of Anil Ambani’s Reliance Communications Ltd. to Reliance Jio Infocomm Ltd., but ordered that the proceeds be held in an escrow account until it decides on a dispute with a minority shareholder. The latest decision marks a partial victory for RCom a day after India’s top court vacated ...

Bloomberg Facebook Inc. expressed a “willingness to engage” with European Union regulators in the wake of fresh evidence showing that data on most of the social network’s 2 billion users could have been accessed improperly. Justice Commissioner Vera Jourova is in touch with Facebook “to arrange for high-level contacts in the coming days,” her spokesman Christian Wigand told reporters at ...

Bloomberg Uber Technologies Inc is appointing two new independent non-executive directors to its UK board as it continues its bid to shore up its reputation in one of its major markets. Susan Hooper was previously head of the travel division at Acromas Group, while Roger Parry is non-executive chairman of software company Oxford Metrics and polling company YouGov Plc. The ...

Bloomberg The European Union can help settle the burgeoning trade spat between the US and China, European Commission Vice Presidents Jyrki Katainen and Valdis Dombrovskis said. Rather than participate in the dispute, the EU can leverage its role as the world’s largest market to uphold the rules of international trade and push back against unilateral tariffs like the ones backed ...

Bloomberg The Trump administration has softened a key Nafta demand for more North American content in car manufacturing—a potential olive branch on arguably the biggest sticking point as the US pushes to reach a stopgap deal this month, according to three people familiar with the talks. The US proposal would distinguish between different Nafta car parts by grouping them into ...

Bloomberg The US is taking sanctions against Russia to a new level. The US Treasury turned away from past efforts like curbs on visas to unleash measures that will sever access to global financial markets, buyers and suppliers for several of Russia’s Kremlin-connected billionaires. One of them, Oleg Deripaska, bears the brunt. And sanctions against him entangle some of the ...

Abu Dhabi / Emirates Business In collaboration with more than twenty business councils from around the world, Khalifa Industrial Zone Abu Dhabi (KIZAD), a subsidiary of Abu Dhabi Ports, brought together more than 500 companies, investors, officials and diplomats to discuss investment opportunities in KIZAD and Khalifa Port Free Trade Zone (KPFTZ), the largest free zone in the Middle East. ...