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Bloomberg Tax cuts have given a boost to Americans’ take-home pay this year. The question hanging over the US economy is whether they are putting the extra cash towards savings and debt, or using it to go shopping. Retail-sales data due on Monday from the Commerce Department will help provide an answer, and economists are betting that consumers finally opened ...

LONDON / Reuters Rolls-Royce requires more money and more inspections to fix problems with Trent 1000 engines on Boeing 787 Dreamliner planes, leading to further disruption for airlines and testing relations between Rolls and its customers. Problems with engine turbine blades wearing out sooner than expected have hampered a restructuring programme prompted by the engineering company’s declining older engine programmes ...

DUBAI / WAM The Dubai Land Department (DLD) revealed that real estate transactions in Dubai for the first three months of 2018 totalled AED58 billion through 13,759 sales. Commenting on the announcement, Sultan Butti bin Mejren, Director-General of DLD, said, “The Dubai real estate market continues to show continuous growth, driven by general optimism and confidence in the real estate ...

DUBAI / WAM Deyaar on Saturday announced its preliminary unaudited financial results for the first quarter of 2018, ending on March 31, 2018. Deyaar reported a year-on-year increase in revenues by nearly 25 percent to over AED176 million for the first quarter of 2018, compared to AED142 million last year. Deyaar reported a healthy rise in net profit by more ...

SHARJAH / WAM Sharjah Islamic Bank (SIB) has been awarded the ISO 27001 Certification, and is among few in the region to have been given this accolade. ISO 27001 is a globally recognised standard for “Information Security Management System” and provides the accreditation on SIB’s security practices to customers, regulators, partners and other stakeholders and ensures that SIB is aligned ...

SHANGHAI / WAM Saudi Arabia’s ACWA Power and China’s Shanghai Electric have signed an Engineering, Procurement, and Construction (EPC) contract for the 700MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), said, “I am pleased to be here today (Saturday) in Shanghai ...

Dubai / Emirates Business Under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, the 8th edition of FAHR International Conference begins this Monday, at the Jumeirah Emirates Towers Hotel in Dubai. The FAHR International Conference & Exhibition is the Middle East’s largest government HR event held by the Federal Authority for ...

Dubai / Emirates Business The Dubai Airport Freezone Authority (DAFZA) is taking part in the Alimentaria 2018 Exhibition, the international business event geared towards professionals in the food, drinks and gastronomy industry, being held from April 16-19 at the Gran Via Venue – Barcelona. DAFZA will be showcasing its wide range of services and offerings in the Halal sector, and ...

ABU DHABI / WAM The UAE Cabinet last week adopted the technical regulations for the emergency communication system in vehicles ‘ECall’, (UAE.S 5019: 2018) issued by the Emirates Authority for Standardisation and Metrology (ESMA), which aims to reduce the response time for vehicles involved in traffic accidents by up to 40 percent. Commenting on the announcement, Abdullah Al Maeeni, Director-General ...

Dubai / Emirates Business As part of its community service commitments, DP World, UAE region is partnering with Al Jalila Children’s Specialty Hospital’s volunteer programme, becoming the first UAE based organisation to do so. Al Jalila Children’s Specialty Hospital is the first dedicated children’s hospital set up in the UAE, created under the directive of HH Sheikh Mohammed Bin Rashid ...