New law provides for 100% foreign ownership of maritime companies, Al Nuaimi says

Abu Dhabi: A new draft law provides for 100 per cent foreign ownership of maritime companies, sets up a maritime Development Fund to support small and medium enterprises (SMEs) and introduces a new dispute settlement system, said Dr Abdullah Bin Mohammad Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Federal Land and […]

India aims to raise $2.18b by cutting stakes in 18 firms to 75 per cent — source

New Delhi: India’s government aims to raise up to Rs150 billion (Dh8.02 billion, Dh2.18 billion) by reducing its stake in 18 state firms to 75 per cent, a finance ministry official involved in the matter said on Monday, as it looks to boost revenues and rein in the fiscal deficit. Finance Minister Nirmala Sitharaman set […]

Flight rates from UAE spike 100% to 300%

As the holiday season kicks in and expatriate families living in the UAE travel home, ticket prices to some destinations soar. Travel agents revealed that flight rates to some sectors have soared massively from 100 per cent and, in some instances, all the way up to 300 per cent, compared to non-peak rates. According to Premjit […]

EU working to get European candidate to replace Lagarde at IMF, official says

Brussels: The European Union wants to have an agreed European candidate to replace Christine Lagarde at the helm of the International Monetary Fund, a senior EU official said on Monday. The fund will need to replace Lagarde after she was nominated last week by EU leaders as the next president of the European Central Bank, […]