finance & economy

April 21, 2018

Boring may not be the first thing that comes to mind when thinking of growing a business.

But it does play an integral part of the thinking of the Kanoo Group, one of the UAE’s biggest family conglomerates that is grooming itself for expansion and getting a professional management to run the business while family members take care of shareholder issues.

“In any business you need exciting and you always need boring,” says chairman Mishal Kanoo, a fourth generation member of the family.

“Boring"...

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April 21, 2018

Retail giant Majid Al Futtaim on Thursday announced the launch of its flagship community in Dubai, Tilal Al Ghaf, revealing more details about the project.

The company said the mixed-use destination represents about AED14 billion ($3.8 billion) worth of investment over the next 10 years.

Authentic to the UAE culture, the community name – Tilal Al Ghaf – is inspired by the Ghaf tree which is a symbol of local heritage and sustainability.

Extensive plantings of indigenous Ghaf trees"...

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April 21, 2018

The total foreign assets at the UAE Central Bank amounted to AED336.32 billion, a growth of 10.3 percent from AED324.98 billion during the corresponding period in 2017.

Statistics released by the UAECB today indicated that the rise in foreign assets is attributed to the increase in the UAECB current account balances and deposits with banks abroad from AED178.83 billion during the Q1 in 2017 to AED271.2 by the end of Q1 this year.

The figures released excludes CBUAE's Reserve Tranche Position (RTP) and SDR holdings with the IMF.

In"...

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April 20, 2018

(AETOS Wire)-- Andersen Global expands its presence in Portugal through a Collaboration Agreement with CNA - Curado, Nogueira & Associados (CNA), a law firm located in Porto. The addition of CNA as a collaborating firm of Andersen Global is part of the firm’s growth strategy in Europe.

The CNA team is led by Founding Partners Luisa Curado, Teresa Nogueira and Carla Malhão, who founded the firm in 2005. “We recognize that Andersen Global shares our same commitment to transparency, stewardship, and best-in-class client service, and not only are these values consistent with our own,"...

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April 20, 2018

Strengthens Portfolio, Category Footprint in Top 15 Global OTC Markets

Replaces and Improves Upon Successful PGT Healthcare Joint Venture

(AETOS Wire)-- The Procter & Gamble Company (NYSE:PG) today announced it has signed an agreement to acquire the Consumer Health business of Merck KGaA, Darmstadt, Germany, for a purchase price of approximately 3.4 billion euro.

This acquisition enables P&G to expand its successful consumer health care business"...

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April 20, 2018

(AETOS Wire)-- (NASDAQ: AMZN)— Amazon Studios announced today that it has greenlit a straight-to-series order for Utopia, a nine-episode series from award-winning Gillian Flynn, the best-selling author and screenwriter of Golden Globe nominated Gone Girl and HBO’s highly anticipated Sharp Objects. Flynn has also inked an overall deal with Amazon Studios across television, marking Utopia as the first project."...

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April 19, 2018

(AETOS Wire)-- Horasis, a global visions community dedicated to inspiring our future, announces the 2018 Horasis Global Meeting to be held in Cascais, Portugal from the 5th-8th of May. The Horasis community of more than 600 selected world leaders, from 70 countries, will gather to discuss this year’s theme, “Inspiring our Future”.

Launched in 2016, the annual Horasis Global Meeting is one of the world's foremost gatherings of business leaders who interact with key government officials and eminent thought leaders. The meetings are held to advance solutions to the most critical challenges"...

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April 19, 2018

Dubai International Financial Centre (DIFC) has announced three new strategic initiatives as part of plans to cement its global status as a competitive business destination.

DIFC’s three initiatives focus on attracting foreign direct investment (FDI), particularly from south-east Asia, enabling Dubai Government entities to complete financial services within DIFC, and facilitating the provision of financial products through Dubai.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and chairman of the Executive Council, has assigned the Council"...

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April 19, 2018

The Green Business Summit 2018 opened in Abu Dhabi yesterday (April 17) highlighting the significant opportunities and challenges faced by business leaders and policymakers in adopting sustainable development practices.

Charles Goddard, The Economist Intelligence Unit’s Asia-Pacific editorial director, welcomed attendees at the event organised by The Economist Events, part of the global English-language weekly newspaper, at the Rosewood Hotel.

Goddard said: “Sustainability and green business are the defining issues, the defining themes of our time. It has been roughly two years since the Paris Agreement when the world agreed to cap global emissions to limit climate change and global"...

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April 19, 2018

Developing the tourism industry across the GCC - now one of the fastest-growing regional hospitality markets in the world - is key to the region’s diversification away from oil, but it is resource-intensive and has a wide-reaching impact on the natural environment in terms of CO2 emissions, water and energy demand, food waste, noise and light pollution.

Dubai’s Tourism Vision for 2020 plans to attract 20 million visitors per year by 2020, doubling the number welcomed in 2012 and developing a sustainable tourism industry will be vital: “It’s not just energy reduction that hotels need to look at,' says Harold Goodwin,"...

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