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EMIRATES BUSINESS
Emirates Business – One of the finest business newspapers MUBADALA TAKES STAKE IN ARAMCO PIPELINES VENTURE Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investmentcompany, on Wednesd
WORLD’S POWERFUL ECONOMIES BET VACCINE PASSPORTS CAN SAVE Bloomberg. The world’s most powerful economies agreed to back plans for so-called vaccine passports in a bid to pull the travel and tourism industry out of a. pandemic-fuelled slump. Tourism ministers from the Group of 20 threw their weight behind the new certificates, stressing that a resumption of normal activity for the sector iscrucial
WILL AMAZON’S ARBITRATION DECISION HELP CONSUMERS Consumer advocates are cheering Amazon’s quiet decision to stop mandating arbitration for m UAE, A GLOBAL DESTINATION FOR MEDICAL TOURISM The UAE is at the forefront of many global indicators in the field of health, as in 2019 it ranked first in 7 global indicators, according to a report issued in 2020 by the Federal Competitiveness and Statistics Centre. Medical tourism proceeds in the UAE recorded AED12.1 billion in 2018, a growth rate of 5.5% compared to 2017,according to an
ITC OFFERS PAYBY IN ALL ABU DHABI TAXIS ABU DHABI / WAM. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that starting Sunday, taxis will start accepting cashless fare payments throughPayBy.
ROLLS-ROYCE CONFIRMS TALKS WITH BOEING ON ALL-NEW JET Bloomberg. Rolls-Royce Holdings Plc said it’s holding discussions with Boeing Co about a new aircraft program, lending more weight to rumblings that the US planemaker is stepping up work on all-new model that would plug a gap in its lineup. ADSB WINS AED3.5B DEAL FROM UAE NAVY TO BUILD PATROL Abu Dhabi Ship Building (ADSB), the regional leader in the new build, repair, maintenance, refit and conversion of naval and commercial vessels, was awarded on Tuesday an AED3.5 billion contract by the Ministry of Defense (MOD) and UAE Navy, to build Falaj 3-class Offshore Patrol Vessels (OPVs). The new contract is the largest-everorder
MADAR FARMS, ADIO PARTNER TO ACCELERATE UAE’S AGTECH Abu Dhabi / WAM. UAE-based AgTech company, Madar Farms partnered with the Abu Dhabi Investment Office (ADIO) to support the operation of the world’s first commercial-scale indoor tomato farm using only LED lights and a new research facility to help in accelerating the AgTech industry in the UAE and the region. SPOTIFY’S COMPETITION IN AFRICA WON HEARTS OF LISTENERS A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listenoffline.
EMIRATES BUSINESS
Emirates Business – One of the finest business newspapers MUBADALA TAKES STAKE IN ARAMCO PIPELINES VENTURE Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investmentcompany, on Wednesd
WORLD’S POWERFUL ECONOMIES BET VACCINE PASSPORTS CAN SAVE Bloomberg. The world’s most powerful economies agreed to back plans for so-called vaccine passports in a bid to pull the travel and tourism industry out of a. pandemic-fuelled slump. Tourism ministers from the Group of 20 threw their weight behind the new certificates, stressing that a resumption of normal activity for the sector iscrucial
WILL AMAZON’S ARBITRATION DECISION HELP CONSUMERS Consumer advocates are cheering Amazon’s quiet decision to stop mandating arbitration for m UAE, A GLOBAL DESTINATION FOR MEDICAL TOURISM The UAE is at the forefront of many global indicators in the field of health, as in 2019 it ranked first in 7 global indicators, according to a report issued in 2020 by the Federal Competitiveness and Statistics Centre. Medical tourism proceeds in the UAE recorded AED12.1 billion in 2018, a growth rate of 5.5% compared to 2017,according to an
ITC OFFERS PAYBY IN ALL ABU DHABI TAXIS ABU DHABI / WAM. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that starting Sunday, taxis will start accepting cashless fare payments throughPayBy.
ROLLS-ROYCE CONFIRMS TALKS WITH BOEING ON ALL-NEW JET Bloomberg. Rolls-Royce Holdings Plc said it’s holding discussions with Boeing Co about a new aircraft program, lending more weight to rumblings that the US planemaker is stepping up work on all-new model that would plug a gap in its lineup. ADSB WINS AED3.5B DEAL FROM UAE NAVY TO BUILD PATROL Abu Dhabi Ship Building (ADSB), the regional leader in the new build, repair, maintenance, refit and conversion of naval and commercial vessels, was awarded on Tuesday an AED3.5 billion contract by the Ministry of Defense (MOD) and UAE Navy, to build Falaj 3-class Offshore Patrol Vessels (OPVs). The new contract is the largest-everorder
MADAR FARMS, ADIO PARTNER TO ACCELERATE UAE’S AGTECH Abu Dhabi / WAM. UAE-based AgTech company, Madar Farms partnered with the Abu Dhabi Investment Office (ADIO) to support the operation of the world’s first commercial-scale indoor tomato farm using only LED lights and a new research facility to help in accelerating the AgTech industry in the UAE and the region. SPOTIFY’S COMPETITION IN AFRICA WON HEARTS OF LISTENERS A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listenoffline.
UAE SEES 1,933 NEW RECOVERIES FROM COVID-19 Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted UAE RANKS SECOND GLOBALLY FOR OVERALL BUSINESS SKILLS Dubai / WAM According to Coursera’s Global Skills Report 2021, the UAE ranks first in th MUBADALA TAKES STAKE IN ARAMCO PIPELINES VENTURE Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investmentcompany, on Wednesd
WEBINAR EXAMINES LEGAL ASPECTS OF OPERATING COMMERCIAL Dubai / WAM. Dubai Chamber of Commerce and Industry, in cooperation with PricewaterhouseCoopers (PwC) Legal Middle East and The Oath Magazine organised a webinar that examined key legal aspects associated with operating commercial agencies in the UAE. The virtual event was attended by more than 230 participants, including businessowners
ADIBF’S 30TH EDITION CONCLUDES Abu Dhabi / WAM Under the patronage of HH Sheikh Mohamed bin Zayed AlNahyan, Crown Pri
WILL AMAZON’S ARBITRATION DECISION HELP CONSUMERS Consumer advocates are cheering Amazon’s quiet decision to stop mandating arbitration for m S&P ASSIGNS ‘AA-’ ISSUER RATING TO EDB WITH OUTLOOK STABLE Emirates Business One of the finest business newspapers in the UAE brought to you by our professional writers and editors. LUFTHANSA MAY HELP REVIVE ONE OF AFRICA’S OLDEST AIRLINES Bloomberg. Lufthansa Consulting GmbH is in talks with Sudan’s government over a role in restructuring one of Africa’s oldest airlines. “If not through a joint venture, they can help to restructure Sudan Airways so that it can be competitive,” Finance Minister Gibril Ibrahim said in an interview. JAPAN’S CHIP FUTURE LIES IN A TAIWAN PARK As much as the US pines for the good old days of global semiconductorsupremacy, Japan fe
BOFA PUTS MORE CAPITAL INTO SALES, TRADING TEAMS: CEO Bloomberg Bank of America Corp (BofA) Chief Executive Officer Brian Moynihan said the banEMIRATES BUSINESS
Emirates Business – One of the finest business newspapers MUBADALA TAKES STAKE IN ARAMCO PIPELINES VENTURE Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investmentcompany, on Wednesd
WORLD’S POWERFUL ECONOMIES BET VACCINE PASSPORTS CAN SAVE Bloomberg. The world’s most powerful economies agreed to back plans for so-called vaccine passports in a bid to pull the travel and tourism industry out of a. pandemic-fuelled slump. Tourism ministers from the Group of 20 threw their weight behind the new certificates, stressing that a resumption of normal activity for the sector iscrucial
WILL AMAZON’S ARBITRATION DECISION HELP CONSUMERS Consumer advocates are cheering Amazon’s quiet decision to stop mandating arbitration for m UAE, A GLOBAL DESTINATION FOR MEDICAL TOURISM The UAE is at the forefront of many global indicators in the field of health, as in 2019 it ranked first in 7 global indicators, according to a report issued in 2020 by the Federal Competitiveness and Statistics Centre. Medical tourism proceeds in the UAE recorded AED12.1 billion in 2018, a growth rate of 5.5% compared to 2017,according to an
ITC OFFERS PAYBY IN ALL ABU DHABI TAXIS ABU DHABI / WAM. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that starting Sunday, taxis will start accepting cashless fare payments throughPayBy.
ROLLS-ROYCE CONFIRMS TALKS WITH BOEING ON ALL-NEW JET Bloomberg. Rolls-Royce Holdings Plc said it’s holding discussions with Boeing Co about a new aircraft program, lending more weight to rumblings that the US planemaker is stepping up work on all-new model that would plug a gap in its lineup. ADSB WINS AED3.5B DEAL FROM UAE NAVY TO BUILD PATROL Abu Dhabi Ship Building (ADSB), the regional leader in the new build, repair, maintenance, refit and conversion of naval and commercial vessels, was awarded on Tuesday an AED3.5 billion contract by the Ministry of Defense (MOD) and UAE Navy, to build Falaj 3-class Offshore Patrol Vessels (OPVs). The new contract is the largest-everorder
MADAR FARMS, ADIO PARTNER TO ACCELERATE UAE’S AGTECH Abu Dhabi / WAM. UAE-based AgTech company, Madar Farms partnered with the Abu Dhabi Investment Office (ADIO) to support the operation of the world’s first commercial-scale indoor tomato farm using only LED lights and a new research facility to help in accelerating the AgTech industry in the UAE and the region. SPOTIFY’S COMPETITION IN AFRICA WON HEARTS OF LISTENERS A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listenoffline.
EMIRATES BUSINESS
Emirates Business – One of the finest business newspapers MUBADALA TAKES STAKE IN ARAMCO PIPELINES VENTURE Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investmentcompany, on Wednesd
WORLD’S POWERFUL ECONOMIES BET VACCINE PASSPORTS CAN SAVE Bloomberg. The world’s most powerful economies agreed to back plans for so-called vaccine passports in a bid to pull the travel and tourism industry out of a. pandemic-fuelled slump. Tourism ministers from the Group of 20 threw their weight behind the new certificates, stressing that a resumption of normal activity for the sector iscrucial
WILL AMAZON’S ARBITRATION DECISION HELP CONSUMERS Consumer advocates are cheering Amazon’s quiet decision to stop mandating arbitration for m UAE, A GLOBAL DESTINATION FOR MEDICAL TOURISM The UAE is at the forefront of many global indicators in the field of health, as in 2019 it ranked first in 7 global indicators, according to a report issued in 2020 by the Federal Competitiveness and Statistics Centre. Medical tourism proceeds in the UAE recorded AED12.1 billion in 2018, a growth rate of 5.5% compared to 2017,according to an
ITC OFFERS PAYBY IN ALL ABU DHABI TAXIS ABU DHABI / WAM. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that starting Sunday, taxis will start accepting cashless fare payments throughPayBy.
ROLLS-ROYCE CONFIRMS TALKS WITH BOEING ON ALL-NEW JET Bloomberg. Rolls-Royce Holdings Plc said it’s holding discussions with Boeing Co about a new aircraft program, lending more weight to rumblings that the US planemaker is stepping up work on all-new model that would plug a gap in its lineup. ADSB WINS AED3.5B DEAL FROM UAE NAVY TO BUILD PATROL Abu Dhabi Ship Building (ADSB), the regional leader in the new build, repair, maintenance, refit and conversion of naval and commercial vessels, was awarded on Tuesday an AED3.5 billion contract by the Ministry of Defense (MOD) and UAE Navy, to build Falaj 3-class Offshore Patrol Vessels (OPVs). The new contract is the largest-everorder
MADAR FARMS, ADIO PARTNER TO ACCELERATE UAE’S AGTECH Abu Dhabi / WAM. UAE-based AgTech company, Madar Farms partnered with the Abu Dhabi Investment Office (ADIO) to support the operation of the world’s first commercial-scale indoor tomato farm using only LED lights and a new research facility to help in accelerating the AgTech industry in the UAE and the region. SPOTIFY’S COMPETITION IN AFRICA WON HEARTS OF LISTENERS A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listenoffline.
UAE SEES 1,933 NEW RECOVERIES FROM COVID-19 Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted UAE RANKS SECOND GLOBALLY FOR OVERALL BUSINESS SKILLS Dubai / WAM According to Coursera’s Global Skills Report 2021, the UAE ranks first in th MUBADALA TAKES STAKE IN ARAMCO PIPELINES VENTURE Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investmentcompany, on Wednesd
WEBINAR EXAMINES LEGAL ASPECTS OF OPERATING COMMERCIAL Dubai / WAM. Dubai Chamber of Commerce and Industry, in cooperation with PricewaterhouseCoopers (PwC) Legal Middle East and The Oath Magazine organised a webinar that examined key legal aspects associated with operating commercial agencies in the UAE. The virtual event was attended by more than 230 participants, including businessowners
ADIBF’S 30TH EDITION CONCLUDES Abu Dhabi / WAM Under the patronage of HH Sheikh Mohamed bin Zayed AlNahyan, Crown Pri
WILL AMAZON’S ARBITRATION DECISION HELP CONSUMERS Consumer advocates are cheering Amazon’s quiet decision to stop mandating arbitration for m S&P ASSIGNS ‘AA-’ ISSUER RATING TO EDB WITH OUTLOOK STABLE Emirates Business One of the finest business newspapers in the UAE brought to you by our professional writers and editors. LUFTHANSA MAY HELP REVIVE ONE OF AFRICA’S OLDEST AIRLINES Bloomberg. Lufthansa Consulting GmbH is in talks with Sudan’s government over a role in restructuring one of Africa’s oldest airlines. “If not through a joint venture, they can help to restructure Sudan Airways so that it can be competitive,” Finance Minister Gibril Ibrahim said in an interview. JAPAN’S CHIP FUTURE LIES IN A TAIWAN PARK As much as the US pines for the good old days of global semiconductorsupremacy, Japan fe
BOFA PUTS MORE CAPITAL INTO SALES, TRADING TEAMS: CEO Bloomberg Bank of America Corp (BofA) Chief Executive Officer Brian Moynihan said the banEMIRATES BUSINESS
Emirates Business – One of the finest business newspapers INDIA’S COVID-19 CRISIS THREATENS OIL RECOVERY India’s Covid-19 crisis threatens oil recovery. Admin April 25, 2021 Opinion. India, the world’s third-largest oil consumer behind the US and China, was meant to be a major driver of oil’s demand recovery as economies reopened. But the country’s devastating health crisis has made that impossible. SME SECTOR TO CONTRIBUTE 53% TO UAE’S GDP IN 2019 This objective also aligns with the goals set under the UAE Centennial 2071 for the future development. He pointed out that the contribution of the SME sector to the GDP of the country is constantly growing. In 2019, it is estimated at 53 percent, up from about 49 percent in 2018 according to the Federal Competitiveness and Statistics Authority UAE, A GLOBAL DESTINATION FOR MEDICAL TOURISM The UAE is at the forefront of many global indicators in the field of health, as in 2019 it ranked first in 7 global indicators, according to a report issued in 2020 by the Federal Competitiveness and Statistics Centre. Medical tourism proceeds in the UAE recorded AED12.1 billion in 2018, a growth rate of 5.5% compared to 2017,according to an
ITC OFFERS PAYBY IN ALL ABU DHABI TAXIS ABU DHABI / WAM. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that starting Sunday, taxis will start accepting cashless fare payments throughPayBy.
GBF AFRICA 2021 TO SHED LIGHT ON GLOBAL ECONOMIC RECOVERY Dubai / WAM. The sixth edition of the Global Business Forum (GBF) Africa is set to take place on October 13-14, under the theme Transformation Through Trade, Dubai Chamber of Commerce and Industryhas announced.
UAE A NATION OF TOLERANCE, PEACE, CULTURAL DIVERSITY, AND The UAE is a nation of tolerance, peace, cultural diversity, and coexistence. Moreover, UAE law guarantees respect and dignity for everyone, criminalises hate, racism and all forms of discrimination. The UAE has also ratified international conventions and agreements that denounce violence, extremism and discrimination, and has launchedseveral
FTA CLARIFIES VAT REGISTRATION OF ‘SOLE ESTABLISHMENTS Abu Dhabi / WAM. The Federal Tax Authority (FTA) clarified that a natural person owning a number of sole establishments may only obtain one tax registration for all its sole establishments, and not a registration for each. establishment separately. The FTA indicated that a sole establishment (also referred to as sole proprietorship) isa legal
BILLIONAIRE ARISON SELLS $930MN STAKE IN ISRAEL’S BANK The holding company owns just over 20 percent of Hapoalim. The total value of the sale wasn’t disclosed. The deal pegs Hapoalim, Israel’s largest bank and the holding company’s most valuable asset, at 24.82 shekels per share. That translates to a purchase price of 3.25 billion shekels ($930 million), according to Bloombergcalculations
SPOTIFY’S COMPETITION IN AFRICA WON HEARTS OF LISTENERS A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listenoffline.
EMIRATES BUSINESS
Emirates Business – One of the finest business newspapers INDIA’S COVID-19 CRISIS THREATENS OIL RECOVERY India’s Covid-19 crisis threatens oil recovery. Admin April 25, 2021 Opinion. India, the world’s third-largest oil consumer behind the US and China, was meant to be a major driver of oil’s demand recovery as economies reopened. But the country’s devastating health crisis has made that impossible. SME SECTOR TO CONTRIBUTE 53% TO UAE’S GDP IN 2019 This objective also aligns with the goals set under the UAE Centennial 2071 for the future development. He pointed out that the contribution of the SME sector to the GDP of the country is constantly growing. In 2019, it is estimated at 53 percent, up from about 49 percent in 2018 according to the Federal Competitiveness and Statistics Authority UAE, A GLOBAL DESTINATION FOR MEDICAL TOURISM The UAE is at the forefront of many global indicators in the field of health, as in 2019 it ranked first in 7 global indicators, according to a report issued in 2020 by the Federal Competitiveness and Statistics Centre. Medical tourism proceeds in the UAE recorded AED12.1 billion in 2018, a growth rate of 5.5% compared to 2017,according to an
ITC OFFERS PAYBY IN ALL ABU DHABI TAXIS ABU DHABI / WAM. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that starting Sunday, taxis will start accepting cashless fare payments throughPayBy.
GBF AFRICA 2021 TO SHED LIGHT ON GLOBAL ECONOMIC RECOVERY Dubai / WAM. The sixth edition of the Global Business Forum (GBF) Africa is set to take place on October 13-14, under the theme Transformation Through Trade, Dubai Chamber of Commerce and Industryhas announced.
UAE A NATION OF TOLERANCE, PEACE, CULTURAL DIVERSITY, AND The UAE is a nation of tolerance, peace, cultural diversity, and coexistence. Moreover, UAE law guarantees respect and dignity for everyone, criminalises hate, racism and all forms of discrimination. The UAE has also ratified international conventions and agreements that denounce violence, extremism and discrimination, and has launchedseveral
FTA CLARIFIES VAT REGISTRATION OF ‘SOLE ESTABLISHMENTS Abu Dhabi / WAM. The Federal Tax Authority (FTA) clarified that a natural person owning a number of sole establishments may only obtain one tax registration for all its sole establishments, and not a registration for each. establishment separately. The FTA indicated that a sole establishment (also referred to as sole proprietorship) isa legal
BILLIONAIRE ARISON SELLS $930MN STAKE IN ISRAEL’S BANK The holding company owns just over 20 percent of Hapoalim. The total value of the sale wasn’t disclosed. The deal pegs Hapoalim, Israel’s largest bank and the holding company’s most valuable asset, at 24.82 shekels per share. That translates to a purchase price of 3.25 billion shekels ($930 million), according to Bloombergcalculations
SPOTIFY’S COMPETITION IN AFRICA WON HEARTS OF LISTENERS A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listenoffline.
UAE SEES 1,933 NEW RECOVERIES FROM COVID-19 Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted GBF AFRICA 2021 TO SHED LIGHT ON GLOBAL ECONOMIC RECOVERY Dubai / WAM. The sixth edition of the Global Business Forum (GBF) Africa is set to take place on October 13-14, under the theme Transformation Through Trade, Dubai Chamber of Commerce and Industryhas announced.
AFZ HIGHLIGHTS NEW OPPORTUNITIES FOR GROWTH IN EDUCATION The free zone has reported a 35 percent growth in the number of education companies registering in AFZ compared to the first quarter of 2020. Ali AlSuwaidi, Director-General of Ajman Free Zone, said, “Ajman Free Zone’s multi-cluster approach has allowed the expansion and growth of the educational sector and its facilities inthe free zone.
SINGAPORE’S NIUM EXPANDS IN UK BEFORE IPO Bloomberg Nium, a Singapore-based fintech startup backed by state-owned investor Temasek Holdin LUFTHANSA MAY HELP REVIVE ONE OF AFRICA’S OLDEST AIRLINES Bloomberg. Lufthansa Consulting GmbH is in talks with Sudan’s government over a role in restructuring one of Africa’s oldest airlines. “If not through a joint venture, they can help to restructure Sudan Airways so that it can be competitive,” Finance Minister Gibril Ibrahim said in an interview. S&P ASSIGNS ‘AA-’ ISSUER RATING TO EDB WITH OUTLOOK STABLE Emirates Business One of the finest business newspapers in the UAE brought to you by our professional writers and editors. WILL AMAZON’S ARBITRATION DECISION HELP CONSUMERS Consumer advocates are cheering Amazon’s quiet decision to stop mandating arbitration for m JAPAN’S CHIP FUTURE LIES IN A TAIWAN PARK As much as the US pines for the good old days of global semiconductorsupremacy, Japan fe
ZIMBABWE TO BAN FIRMS FROM FX AUCTIONS Bloomberg Zimbabwe has threatened to ban traders from the country’s foreign-exchange (FX) aucti JOE BIDEN’S TRICKLE-UP ECONOMICS MAY FAIL President Joe Biden’s recently unveiled budget marks a new era in US economic policy making. DecadEMIRATES BUSINESS
Emirates Business – One of the finest business newspapers INDIA’S COVID-19 CRISIS THREATENS OIL RECOVERY India’s Covid-19 crisis threatens oil recovery. Admin April 25, 2021 Opinion. India, the world’s third-largest oil consumer behind the US and China, was meant to be a major driver of oil’s demand recovery as economies reopened. But the country’s devastating health crisis has made that impossible. SME SECTOR TO CONTRIBUTE 53% TO UAE’S GDP IN 2019 This objective also aligns with the goals set under the UAE Centennial 2071 for the future development. He pointed out that the contribution of the SME sector to the GDP of the country is constantly growing. In 2019, it is estimated at 53 percent, up from about 49 percent in 2018 according to the Federal Competitiveness and Statistics Authority UAE, A GLOBAL DESTINATION FOR MEDICAL TOURISM The UAE is at the forefront of many global indicators in the field of health, as in 2019 it ranked first in 7 global indicators, according to a report issued in 2020 by the Federal Competitiveness and Statistics Centre. Medical tourism proceeds in the UAE recorded AED12.1 billion in 2018, a growth rate of 5.5% compared to 2017,according to an
ITC OFFERS PAYBY IN ALL ABU DHABI TAXIS ABU DHABI / WAM. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that starting Sunday, taxis will start accepting cashless fare payments throughPayBy.
GBF AFRICA 2021 TO SHED LIGHT ON GLOBAL ECONOMIC RECOVERY Dubai / WAM. The sixth edition of the Global Business Forum (GBF) Africa is set to take place on October 13-14, under the theme Transformation Through Trade, Dubai Chamber of Commerce and Industryhas announced.
UAE A NATION OF TOLERANCE, PEACE, CULTURAL DIVERSITY, AND The UAE is a nation of tolerance, peace, cultural diversity, and coexistence. Moreover, UAE law guarantees respect and dignity for everyone, criminalises hate, racism and all forms of discrimination. The UAE has also ratified international conventions and agreements that denounce violence, extremism and discrimination, and has launchedseveral
FTA CLARIFIES VAT REGISTRATION OF ‘SOLE ESTABLISHMENTS Abu Dhabi / WAM. The Federal Tax Authority (FTA) clarified that a natural person owning a number of sole establishments may only obtain one tax registration for all its sole establishments, and not a registration for each. establishment separately. The FTA indicated that a sole establishment (also referred to as sole proprietorship) isa legal
BILLIONAIRE ARISON SELLS $930MN STAKE IN ISRAEL’S BANK The holding company owns just over 20 percent of Hapoalim. The total value of the sale wasn’t disclosed. The deal pegs Hapoalim, Israel’s largest bank and the holding company’s most valuable asset, at 24.82 shekels per share. That translates to a purchase price of 3.25 billion shekels ($930 million), according to Bloombergcalculations
SPOTIFY’S COMPETITION IN AFRICA WON HEARTS OF LISTENERS A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listenoffline.
EMIRATES BUSINESS
Emirates Business – One of the finest business newspapers INDIA’S COVID-19 CRISIS THREATENS OIL RECOVERY India’s Covid-19 crisis threatens oil recovery. Admin April 25, 2021 Opinion. India, the world’s third-largest oil consumer behind the US and China, was meant to be a major driver of oil’s demand recovery as economies reopened. But the country’s devastating health crisis has made that impossible. SME SECTOR TO CONTRIBUTE 53% TO UAE’S GDP IN 2019 This objective also aligns with the goals set under the UAE Centennial 2071 for the future development. He pointed out that the contribution of the SME sector to the GDP of the country is constantly growing. In 2019, it is estimated at 53 percent, up from about 49 percent in 2018 according to the Federal Competitiveness and Statistics Authority UAE, A GLOBAL DESTINATION FOR MEDICAL TOURISM The UAE is at the forefront of many global indicators in the field of health, as in 2019 it ranked first in 7 global indicators, according to a report issued in 2020 by the Federal Competitiveness and Statistics Centre. Medical tourism proceeds in the UAE recorded AED12.1 billion in 2018, a growth rate of 5.5% compared to 2017,according to an
ITC OFFERS PAYBY IN ALL ABU DHABI TAXIS ABU DHABI / WAM. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that starting Sunday, taxis will start accepting cashless fare payments throughPayBy.
GBF AFRICA 2021 TO SHED LIGHT ON GLOBAL ECONOMIC RECOVERY Dubai / WAM. The sixth edition of the Global Business Forum (GBF) Africa is set to take place on October 13-14, under the theme Transformation Through Trade, Dubai Chamber of Commerce and Industryhas announced.
UAE A NATION OF TOLERANCE, PEACE, CULTURAL DIVERSITY, AND The UAE is a nation of tolerance, peace, cultural diversity, and coexistence. Moreover, UAE law guarantees respect and dignity for everyone, criminalises hate, racism and all forms of discrimination. The UAE has also ratified international conventions and agreements that denounce violence, extremism and discrimination, and has launchedseveral
FTA CLARIFIES VAT REGISTRATION OF ‘SOLE ESTABLISHMENTS Abu Dhabi / WAM. The Federal Tax Authority (FTA) clarified that a natural person owning a number of sole establishments may only obtain one tax registration for all its sole establishments, and not a registration for each. establishment separately. The FTA indicated that a sole establishment (also referred to as sole proprietorship) isa legal
BILLIONAIRE ARISON SELLS $930MN STAKE IN ISRAEL’S BANK The holding company owns just over 20 percent of Hapoalim. The total value of the sale wasn’t disclosed. The deal pegs Hapoalim, Israel’s largest bank and the holding company’s most valuable asset, at 24.82 shekels per share. That translates to a purchase price of 3.25 billion shekels ($930 million), according to Bloombergcalculations
SPOTIFY’S COMPETITION IN AFRICA WON HEARTS OF LISTENERS A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listenoffline.
UAE AMONG TOP TEN IN 11 BANKING, FISCAL INDEXES Abu Dhabi / WAM. The UAE has strengthened its leading position in international competitiveness indexes, related to banking and fiscal policies, by securing places among the top 20 countries in 11 related competitiveness indexes in 2020. This overall achievement highlights flexibility and attractiveness of policies implemented by UAE that GBF AFRICA 2021 TO SHED LIGHT ON GLOBAL ECONOMIC RECOVERY Dubai / WAM. The sixth edition of the Global Business Forum (GBF) Africa is set to take place on October 13-14, under the theme Transformation Through Trade, Dubai Chamber of Commerce and Industryhas announced.
LUFTHANSA MAY HELP REVIVE ONE OF AFRICA’S OLDEST AIRLINES Bloomberg. Lufthansa Consulting GmbH is in talks with Sudan’s government over a role in restructuring one of Africa’s oldest airlines. “If not through a joint venture, they can help to restructure Sudan Airways so that it can be competitive,” Finance Minister Gibril Ibrahim said in an interview. COVID-19, DEADLOCK TRAP MALAYSIA A crisis of political legitimacy is hanging over Malaysia’s government just when it needs AFZ HIGHLIGHTS NEW OPPORTUNITIES FOR GROWTH IN EDUCATION The free zone has reported a 35 percent growth in the number of education companies registering in AFZ compared to the first quarter of 2020. Ali AlSuwaidi, Director-General of Ajman Free Zone, said, “Ajman Free Zone’s multi-cluster approach has allowed the expansion and growth of the educational sector and its facilities inthe free zone.
EMAAR SALES JUMP 250% IN FIRST 5 MONTHS OF 2021 Dubai / Emirates Business Emaar Properties saw property sales in Dubaisurge by 250 perc
SINGAPORE’S NIUM EXPANDS IN UK BEFORE IPO Bloomberg Nium, a Singapore-based fintech startup backed by state-owned investor Temasek Holdin DUBAI CHAMBER MEMBERS SEE REBOUND IN LATIN AMERICA-BOUND Dubai / WAM. The value of Dubai Chamber members’ exports and re-exports to Latin America surged 69 percent to reach a record $60.5 million in the first quarter of 2021, a trend supported by increased activity among companies in Dubai that are already trading with theregion.
ADIBF’S 30TH EDITION CONCLUDES Abu Dhabi / WAM Under the patronage of HH Sheikh Mohamed bin Zayed AlNahyan, Crown Pri
ETIHAD RAIL INKS DEAL TO BUILD DIGITAL LOGISTICS SERVICES ABU DHABI / WAM . Etihad Rail, the developer and operator of the UAE’s national railway network, has signed an agreement with Transportr, a leading company in digital freight services.__
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BIDEN TO INCREASE US CONTRACTS AWARDED TO MINORITY BUSINESSES__3 days ago
FRANCE DEPLOYS AI IN $3.7B PLAN TO SAVE SMALL BUSINESSES__3 days ago
EU TO FORCE MULTINATIONALS TO REPORT REVENUE IN EACH NATION__3 days ago
SWISS ECONOMY POISED TO GAIN PACE__3 days ago
ABU DHABI TERMINALS INKS DEAL WITH MICROSOFT__8 hours ago
ABU DHABI INTERNATIONAL BOOK FAIR CONCLUDES__8 hours ago
MOHRE SEES 50% RISE IN NEW ESTABLISHMENTS__8 hours ago
MOHRE SEES 50% RISE IN NEW ESTABLISHMENTS__8 hours ago
GCC CHIEF WELCOMES UAE’S OFFER TO HOST COP 28 IN 2023__12 days ago
FLOWARD COVERS ENTIRE GCC REGION WITH LAUNCH IN OMAN__26 days ago
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AED68.6BN OF REALTY DEALS IN FOUR EMIRATES IN Q1 ’21__6 days ago
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SHEIKH MOHAMED, LIBYA’S TOP OFFICIAL DISCUSS BILATERAL TIES ABU DHABI / WAM HIS HIGHNESS SHEIKH MOHAMED BIN ZAYED AL NAHYAN, CROWN PRINCE OF ABU DHABI AND DEPUT... UAE HAS ENHANCED ITS POSITION IN THE GLOBAL MARITIME SECTOR FUJAIRAH / WAM HIS HIGHNESS SHEIKH HAMDAN BIN ZAYED AL NAHYAN, RULER’S REPRESENTATIVE IN AL DHAFRA R... HFZA, BEE’AH RENEW STRATEGIC PARTNERSHIP SHARJAH / WAM BEE’AH, SHARJAH-BASED INTEGRATED ENVIRONMENTAL, RECYCLING & WASTE MANAGEMENT COMP... ELECTRONIC CONNECTION ACTIVATED BETWEEN ADJD, UAE CENTRAL BANK ABU DHABI / WAM THE ABU DHABI JUDICIAL DEPARTMENT (ADJD) HAS ANNOUNCED IT BEGAN ACTIVATING THE ELECT... US MAY REGRET USING DOLLAR AS SANCTIONS WEAPON: PUTIN BLOOMBERG PRESIDENT VLADIMIR PUTIN SAID RUSSIA DOESN’T WANT TO STOP USING THE DOLLAR AS HE ACCUSED T... UAE TO ANNOUNCE BEST, WORST GOVERNMENT ENTITIES ON SEPT 4 DUBAI / WAM HIS HIGHNESS SHEIKH MOHAMMED BIN RASHID AL MAKTOUM, VICE PRESIDENT AND PRIME MINISTER OF... SHARJAH OKS FOREIGN OWNERSHIP OF COMMERCIAL, INDUSTRIAL FIRMS SHARJAH / WAM THE SHARJAH ECONOMIC DEVELOPMENT DEPARTMENT (SEDD) ANNOUNCED THAT IT WOULD BE IMPLEMEN... AJMAN APPROVES 1,000 ECONOMIC ACTIVITIES FOR FULL OWNERSHIP AJMAN / WAM THE DEPARTMENT OF ECONOMIC DEVELOPMENT IN AJMAN (AJMAN DED) OPENED 100% OWNERSHIP OF ECO... FLYDUBAI RESUMES ITS OPERATIONS TO ITALY DUBAI / WAM FLYDUBAI, THE DUBAI-BASED AIRLINE, HAS ANNOUNCED ON WEDNESDAY THE RESUMPTION OF ITS OPER... DEAL SIGNED ON CREDIT GUARANTEE, CO-LENDING PROGRAMME FOR SMES ABU DHABI / WAM THE EMIRATES DEVELOPMENT BANK (EDB), FULLY OWNED BY THE UAE FEDERAL GOVERNMENT, HAS ...*
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BIDEN’S BLACKLIST OFFERS OLIVE BRANCH TO BEIJING__8 hours ago
President Joe Biden’s blacklist on investment in Chinese companies offers the kind of compromise that ...Read More »
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PANDEMIC HAS BOOKS BACK IN BUSINESS__8 hours ago
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POST-COVID WORKPLACES CAN CLOSE AUTISM GAP__8 hours ago
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PERSISTENT POLITICS OF TULSA RACE MASSACRE__8 hours ago
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COVID-19 SHOWED THAT WE’RE BAD AT BIG DECISIONS__3 days ago
BANKING
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INDIA CENTRAL BANK EXPANDS QE AS GROWTH SEEN FALTERING__9 hours ago
Bloomberg India’s central bank expanded its version of quantitative easing (QE) and lowered its economic ...Read More »
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BOFA, GOLDMAN BOOST BRAZIL GROWTH BETS AFTER SOLID Q1__9 hours ago
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UBS, CREDIT SUISSE NEED TO RAISE LIQUIDITY: SWITZERLAND__9 hours ago
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GERMANY WEIGHS TAKING PART IN LUFTHANSA CAPITAL INCREASE__8 hours ago
Bloomberg Germany is leaning towards participating in Deutsche Lufthansa AG’s pending capital increase, according to ...Read More »
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INDIAN AIRLINES WILL LOSE $8B DUE TO COVID, SAYS CAPA__8 hours ago
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SINGAPORE AIRLINES SAYS RESERVES SUFFICIENT FOR WELL INTO 2023__8 hours ago
RETAIL ESTATE
AED68.6BN OF REALTY DEALS IN FOUR EMIRATES IN Q1 ’21__6 days ago
DUBAI RECORDS 4,832 REAL ESTATE DEALS WORTH AED10.98B IN APRIL__10 days ago
US SALES OF PREVIOUSLY OWNED HOMES FALL FOR A THIRD MONTH__11 days ago
TORONTO HOME PRICES SEE SHARPEST DROP__27 days ago
US NEW-HOME SALES RISE MORE THAN FORECAST AFTER WINTER SETBACK__April 24, 2021
DLD ISSUES 4,202 NEW REAL ESTATE PERMITS IN 2020__April 14, 2021
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REAL ESTATE
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AED68.6BN OF REALTY DEALS IN FOUR EMIRATES IN Q1 ’21__6 days ago
Abu Dhabi / WAM UAE property market saw AED68.6 billion in transactions in Q1 of ...Read More »
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DUBAI RECORDS 4,832 REAL ESTATE DEALS WORTH AED10.98B IN APRIL__10 days ago
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US SALES OF PREVIOUSLY OWNED HOMES FALL FOR A THIRD MONTH__11 days ago
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TORONTO HOME PRICES SEE SHARPEST DROP__27 days ago
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US NEW-HOME SALES RISE MORE THAN FORECAST AFTER WINTER SETBACK__April 24, 2021
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RECENT NEWS
US-CHINA TRADE RELATIONSHIP SIGNIFICANTLY IMBALANCED: TAI__8 hours ago
Bloomberg The trade relationship between the two largest economies in the world has “significant imbalance” and the Biden administration is committed to leveling it, according to the US trade representative. “There are parts of this trade relationship that are unhealthy and have over time been damaging in some very important ...Read More »
ABU DHABI TERMINALS INKS DEAL WITH MICROSOFT__8 hours ago
ABU DHABI / Emirates Business Abu Dhabi Terminals, in the presence of His Excellency Omar bin Sultan Al Olama, UAE Ministry of Artificial Intelligence (AI), has announced a partnership agreement with Microsoft that heralds the next phase in the digital transformation of Abu Dhabi’s flagship maritime asset, Khalifa Port. The ...Read More »
ABU DHABI INTERNATIONAL BOOK FAIR CONCLUDES__8 hours ago
ABU DHABI / WAM Under the patronage of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Abu Dhabi International Book Fair (ADIBF) has concluded a successful 30th edition. The fair’s return as a physicalevent saw an ...
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STOCKS
CHINA STATE MEDIA TAKES AIM AT ‘WHIMSICAL’ STOCK INDEX TARGETS__3 days ago
Bloomberg Bullish calls on Chinese stocks appear to have gotten on the nerves of the country’s regulators, with state media reporting that authorities are against analysts forecasting specific levels for the market. “Some predictions in the market are rather whimsical and some people use exaggerated and empty terms in pursuit ...Read More »
EUROPEAN STOCKS RISE AS FUTURES DRIFT; DOLLAR GAINS__3 days ago
Bloomberg European stocks rise while US equity futures drifted on Wednesday as the tussle between economic optimism and inflation concern continues to play out in markets. The dollar ticked up. The Stoxx Europe 600 Index climbed 0.2%, with energy shares getting a boost from oil prices at multi-year highs. Contracts ...Read More »
STOCKS, FUTURES SURGE ON POSITIVE DATA; OIL JUMPS__4 days ago
Bloomberg Stocks rise with US equity futures, and commodities including oil jumped, as a string of positive economic readings spurred optimism in the recovery from the pandemic. The Stoxx Europe 600 Index gained 1%, led higher by cyclical shares, as data showed that euro-area factories are struggling to keep up ...Read More »
SINGAPORE BONDS BEAT GLOBAL PEERS AS CURBS FAN HAVEN DEMAND__4 days ago
Bloomberg Singapore government bonds beat their biggest developed-market peers in May as a flare-up in virus infections in the city state fostered demand for haven assets. The securities gained 1.1% last month, a performance which trails only that of South African, Mexican and Indonesian bonds among 30 of the world’s ...Read More »
CHINA STOCKS’ BIGGEST WEEKLY RISE REKINDLES INVESTOR HOPES__5 days ago
Bloomberg China stocks’ biggest weekly surge since February is rekindling investor hopes for a strong rally ahead. But don’t expect the sentiment-driven frenzy of last year, analysts say. The benchmark CSI 300 Index gained 3.6% last week, with turnover nearing the 1 trillion yuan ($157 billion) mark – the most ...Read More »
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