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Bloomberg The US Supreme Court will consider freeing state and local governments to collect billions of dollars in sales taxes from online retailers, agreeing to revisit a 26-year-old ruling that has made much of the internet a tax-free zone. Heeding calls from traditional retailers and dozens of states, the justices said they’ll hear South Dakota’s contention that the 1992 ruling ...

Bloomberg Investor D.E. Shaw & Co. has built an active stake in US home retailer Lowe’s Cos., according to people familiar with the matter. While D.E. Shaw’s specific plans for the investment couldn’t immediately be learned, the firm does plan to use its holding to agitate for changes at Lowe’s, the people said, asking not to be identified as the ...

Bloomberg A day after embarking on a pay hike, Wal-Mart Stores Inc. is taking steps to shake up management at thousands of its stores. The world’s biggest retailer is removing about 3,500 store co-managers, a salaried role that acts as a lieutenant underneath each store manager, according to people familiar with the move. It’s also adding about 1,700 assistant store ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) approved a total budget of AED26.417 billion ($7.2 billion) for 2018, compared to AED24.358 billion in 2017. The 2018 budget incorporates investments in conventional and non-conventional energy sources, adva- nced technologies and innovative projects to realise the vision of Vice President and Prime Minister of the UAE and Ruler of Dubai, ...

ABU DHABI / WAM The Emirates Nuclear Energy Corporation (ENEC) participated in the second Atlantic Council Global Energy Forum in Abu Dhabi, held by The Atlantic Council and in partnership with the UAE Ministry of Energy, ADNOC, Mubadala, and Masdar. ENEC Chief Executive Officer, Mohamed Al Hammadi, addressed participants during the opening of “A New Age for Nuclear Energy” plenary ...

Bloomberg Iraq joined the United Arab Emirates and Oman in calling for OPEC and allied producers to stick with their agreement to cut oil output until the end of the year, despite recent price gains. Output cuts by the Organization of Petroleum Exporting Countries and fellow producers have contributed to stability in the oil market, and Iraq supports OPEC’s decision ...

DUBAI / WAM Director of Dubai Customs, Ahmed Mahboob Musabih, held a meeting with Emmanuel Kamarianakis, Consul-General of Canada in Dubai. The two discussed means of boosting cooperation between Canada and Dubai especially in bilateral trade and customs business. “It’s very important for us to boost ties of partnership with Canadian diplomatic missions and business councils and corporates. We have ...

DUBAI / WAM The number of Russian tourists travelling to the GCC in 2020 is expected to be 38 percent higher than the arrival figures recorded for 2016, according to data published recently by Arabian Travel Market (ATM 2018), which takes place at Dubai World Trade Centre from April 22 to 25. Looking at the economic drivers, the value of ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received Abdulaziz bin Saud bin Nayef bin Abdulaziz Al Saud, Minister of Interior of Saudi Arabia, who is currently visiting the country, in Al Ain on Saturday. During the meeting, the two sides reviewed ...

Abu Dhabi / WAM The Board of Directors of the UAE Central Bank held its first meeting for 2018 at the Central Bank Head Office – Abu Dhabi, under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, the Governor, and Board members ...