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WASHINGTON U.S. President-elect Donald Trump released a video on Monday laying out actions he will take on his first day in office on Jan. 20, including withdrawing the United States from a Trans-Pacific Partnership trade deal. Trump also said he would issue a rule cutting government regulations, direct the Labor Department to investigate abuses of visa programs, and cancel some restrictions on energy production, including shale oil […]

The United Arab Emirates could refer the United States to the World Trade Organisation over anti-dumping charges levied on steel pipes, a senior official said on Monday. The US International Trade Commission announced on Friday it was taking measures against UAE, Oman and Pakistan in relation to circular welded carbon-quality steel pipes, after a Department of Commerce investigation found them to be sold in the United States […]

Dubai/London: November21, 2016  Advance Global Capital (AGC), announced the partnership with Invoice Bazaar, a FinTech Supply Chain Finance platform in the United Arab Emirates for offering receivables purchase from SME suppliers. As part of the initial term sheet signed, AGC is committing a capital of AED 4 Million (US$1.1Million) as the first tranche towards purchase of receivables mainly targeted towards the SME segment. Supply Chain Finance, is […]

Mylan NV (MYL.O) has declined a U.S. Senate committee request to testify about a $465 million pending settlement to resolve charges the company underpaid government healthcare programs by misclassifying its the EpiPen emergency allergy treatment. In a Nov. 18 letter to the Senate Judiciary Committee released on Monday, Mylan said the company would not attend since government agencies had also refused to testify. Senator Chuck Grassley, who […]

The 11km Boardwalk at Palm Jumeirah in Dubai was officially opened on Monday by Nakheel chairman Ali Rashid Lootah, marking the completion of another new attraction at the world-famous island.  The AED150 million Boardwalk was created by building out over the rocks of the island’s protective breakwater to produce a six metre wide promenade – and a new destination for fitness, leisure and socialising. Accessible from 14 […]

Six people suffered minor injuries in a 25-car pile-up on the busy Al Ain-Abu Dhabi Road on Monday morning, according to Abu Dhabi Police. “Twenty-five vehicles were involved in an early-morning crash due to low visibility,” said Brigadier General Ali Khalfan Al Dhaheri, director-general of central operations at Abu Dhabi Police. The injured received first aid on the spot and were then taken to Tawam Hospital in […]

By Timothy Aeppel and Mai Nguyen American companies from appliance makers to auto parts suppliers have lined up to offer a quiet caution to President-elect Donald Trump as he considers pulling the United States from trade deals: most lost manufacturing jobs aren’t coming back, but higher costs for consumers could. Consider the sneaker industry, one of the first to move to Asia because of the sharply lower […]

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An onboard smoke alert forced a flight from Miami to Doha to make an emergency landing in Zurich yesterday afternoon. The Boeing 777-300 (flight QR778) was 15 nautical miles (28 kms) northeast of Zurich when the crew reported smoke on the flight deck, according to a report in Aviation Herald. The plane landed safely at Zurich where it was met by emergency vehicles. Following an inspection by […]

Rowan Companies Plc (RDC.N) said it was forming a joint venture with Saudi Arabian state oil giant Saudi Aramco to operate offshore drilling rigs in the country. Rowan said it would provide three jack-up rigs and Saudi Aramco two when the joint venture begins operations in the second quarter of 2017. Both companies would contribute $25 million as working capital, Rowan said in a regulatory filing on […]

HE Ahmed Bin Shafar: “District cooling is an ideal cooling solution that replaces conventional systems, bringing benefits to environment, economy and users” Dubai, UAE, 21 November 2016 Emirates Central Cooling Systems Corporation (Empower), world’s largest district cooling services provider, has urged real estate developers participating in the four-day “Big 5” exhibition 2016, that kicked off today (November  21 2016), at  the World Trade Center in Dubai, […]

Theresa May has set out the terms of a new grand bargain with business, where the government invests to boost productivity and cuts corporation tax, in exchange for help tackling the worst excesses of capitalism. Setting out her business strategy, the UK prime minister proposes in the Financial Times a pact with corporate Britain to work together to defend capitalism, free markets and free trade from populist […]

The International Monetary Fund (IMF) is estimating $1 billion (OR 385 million) windfall for the Omani government from value added tax (VAT). The consumer tax, not conspicuously stated yet, will account for nearly 1.5 per cent of the gross domestic product though the amount can fluctuate depending on variables such as compliance rate and exemptions, the IMF said. VAT is expected to have a certain degree of […]

Photo President Hassan Rouhani of Iran, center, at a welcome ceremony earlier this month in Karaj, just west of Tehran, has said that his country will remain committed to a nuclear deal with the United States and other world powers. Credit Office of the Iranian Presidency, via Associated Press TEHRAN — At first blush, the election of Donald J. Trump would seem to be bad news for […]

By Henning Gloystein | SINGAPORE SINGAPORE Oil prices rose around 1 percent on Monday as OPEC moved closer to an output cut to rein in oversupply that has pressured prices for over two years. Brent crude futures LCOc1 were trading at $47.31 per barrel at 0743 GMT, up 65 cents, or 0.96 percent, from their last settlement. U.S. West Texas Intermediate (WTI) CLc1 was up 0.9 percent, […]

Sweden’s Henrik Stenson has won European Tour’s Order Of Merit for the second time after none of his challengers could replace him at the top of the money list on the final day of the DP World Tour Championship in Dubai on Sunday. Matthew Fitzpatrick holed a nerve-shredding four-foot putt at the 18th to win the season-ending tournament at Jumeirah Golf Estates, Dubai. The 22 year trailed […]

The head of a leading Russian sovereign wealth fund has hailed Donald Trump’s election victory as a new opportunity for Moscow to do business with the US. “We believe having a businessman in the White House who makes pragmatic decisions is very important,” Kirill Dmitriev, chief executive of the state-run Russian Direct Investment Fund, told the Financial Times in an interview. “We believe what is great about […]

We check out some of the best Black Friday 2016 deals that are on offer on 4K TVs from several retailers such as Target, Walmart, eBay, Best Buy and Newegg. Walmart Walmart has already revealed some of its offers for Black Friday 2016. The deals become available from Thursday, Nov. 24, post 12:01 a.m. ET. The retailer has the following 4K TVs up for grabs at discounted prices. Phillips […]

Three Abu Dhabi banks denied they were in merger talks on Sunday, sending their share prices lower as investor hopes of a shake-up in the banking sector were dashed. Abu Dhabi Commercial Bank (ADCB), Union National Bank (UNB) and Abu Dhabi Islamic Bank in separate statements to the bourse each denied they were involved in merger plans. Shares in the lenders had been suspended earlier on Sunday […]

TOKYO Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump’s election to president could accelerate fund outflows from emerging markets. MSCI’s broadest dollar-based index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dipped 0.1 percent, staying near four-month lows. In local currency terms, many markets are up slightly. Japan’s Nikkei .N225 rose […]

Abu Dhabi International airport reported a slight drop in passenger numbers for the month of October. Abu Dhabi Airports said 1,903,556 passengers travelled through the transport hub during last month, a 0.9 percent drop in the figure (1,920,011) for the same month last year. Passenger numbers for the first ten months of the year at Abu Dhabi, however, are up 5.4% on the number of travellers from […]

For the past year, Deutsche Bank was one of the most stubbornly pessimistic banks. Then, overnight, everything changed for one reason: Donald Trump. The German bank laid out its 180-degree change in opinion in a 30-page Friday note titled “Trump: the huge picture for stocks”, in which it revealed that it now expects the S&P to easily rise to 2,250 by Trump’s inauguration, and then rise to […]

By Mitra Taj and Jeff Mason | LIMA LIMA Pacific rim leaders said on Sunday that they were committed to fighting “all forms of protectionism,” and encouraged signatories of the TPP trade pact to continue supporting it despite fears it may not have a future in its current form. “We reaffirm our commitment to keep our markets open and to fight against all forms of protectionism,” the […]

Qatar could see an increase in interest rates next year as the central bank follows the US in its “gradual tightening cycle” in the coming months, according to new research. The QCB is likely to follow the US Federal Reserve in its strategy, hiking interest rates by 25 basis points (bps), or 0.25 percent, in 2017, BMI Research said. The expected increase will bring the policy rate […]

(Reuters) – Insurer American International Group, or AIG, is looking to move into residential property loans with plans to make what company representatives called direct investments in mortgages, the Financial Times reported Sunday. Reuters

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