Billionaire on top of the world chooses China’s Huawei to expand

From his square, glass-walled office atop the family headquarters in Kathmandu, scion Nirvana Chaudhary has a 360-degree view of the capital from which he can point out various holdings of his family’s group “” bank branches, a food production complex, hotels, hospitals. Few families have such a stranglehold over their homeland as do the Chaudharys, […]

Doubling VAT right now is not on

Over the years, we have had the chance to meet annually with International Monetary Fund (IMF) delegations visiting the Gulf to assess the economic conditions. The multilateral institution is known for its professionalism, and its experts have the best credentials in their field. And yet, some of them are not fully aware of the economic […]

Khidmah wins 14 contracts across UAE

ABU DHABI: Khidmah has won 14 new contracts in Abu Dhabi, Dubai, Sharjah and Ras Al Khaimah. The new contracts have been secured by Khidmah following a highly competitive bid process. In Abu Dhabi, Khidmah won five contracts from the master-developer Aldar Properties in Al Saadiyat Island including the Provision of Hard and Soft FM […]

US targets EU with tariffs on Airbus planes and French cheese

London/Brussels/Washington: The United States on Wednesday said it would enact 10 per cent tariffs on European-made Airbus planes and 25 per cent duties on goods from across the continent as punishment for illegal EU aircraft subsidies. The announcement came after the World Trade Organization gave Washington a green light to impose tariffs on $7.5 billion […]

Nasdaq Dubai welcomes listings by DP World of $500 million sukuk, $500 million bond

DUBAI: Nasdaq Dubai has welcomed the listing of a $500 million sukuk and a $500 million conventional bond issued by global trade enabler DP World. DP World is the largest UAE debt issuer by value on the region’s international exchange, with sukuk and conventional bond listings now totalling $9.09 billion. The organisation operates a geographically […]