Italy, China will sign up to $23 billion of deals, official says

Rome: Chinese and Italian companies will sign 10 accords potentially worth as much as 20 billion euros ($23 billion) at a ceremony with Chinese President Xi Jinping on Saturday, according to an Italian official who declined to be named before the event. Xi and Italian Prime Minister Giuseppe Conte will separately sign a memorandum of […]

Dubai to host inaugural ‘Abundance 360 Summit’

DUBAI A speaker line up has been confirmed for the upcoming Abundance 360 Summit, A360, in Dubai. Conceptualised by renowned futurist Peter Diamandis, A360 is hosted by Dubai Future Foundation, and held under the patronage of Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council, and Chairman […]

FTA bans sale of unmarked tobacco products from August 1, 2019

DUBAI. The Federal Tax Authority, FTA, has announced that the selling or distribution of any unmarked tobacco products will be prohibited across all local markets as of August 1, 2019. In a press statement issued on Monday, the Authority said that it held a series of training workshops to introduce inspectors across the UAE’s economic […]

Government sets a record with a $234 billion deficit in February

Washington: The US government posted the largest monthly budget deficit in American history in February, hitting a dramatic milestone as tax revenue lags and spending levels continue to skyrocket. The government spent $234 billion (Dh859 billion) more than it brought in through tax receipts last month, much more than the deficit levels hit during the […]

GM plans $1.8b US investment after Trump’s criticism

Orion Township, Michigan: General Motors Co. committed to investing $1.8 billion at plants in six states and to creating 700 new jobs, as the largest US automaker looks to ward off months of criticism by President Donald Trump. The bulk of the new jobs will go to a factory in Michigan where GM plans to […]

Malaysia seizes Jho Low’s family mansion, New Straits Times says

Kuala Lumpur: Malaysian authorities have seized a mansion believed to belong to the family of Low Taek Jho in connection to investigations into 1Malaysia Development Bhd., the New Straits Times reported. A notice of seizure dated January 17 was posted on the front wall of the house in Penang state, and addressed to a person […]

Disruption is no stranger to the UAE’s FMCG business

Think of FMCG and it is made up of relatively low value and high volume food, beverages, toiletries, over-the-counter drugs and other consumables. Within that, the beverage sector does have a big part, particularly in the hot and sultry months of summer in the UAE. This category constitutes a mix of carbonated and non-carbonated ready-to-drink […]