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  • Sunday 21st October 2018

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    • Crucial Gulf Summit convenes in Kuwait Crucial Gulf Summit convenes in Kuwait

      Abu Dhabi-The 38th Gulf Cooperation Council (GCC) Summit, set to be held in Kuwait on Tuesday and Wednesday faces the challenging task of consolidating the Gulf family, to reinforce its security being breached by Iran’s expansionist project, analysts said yesterday. Speaking to Gulf News on the eve of the crucial summit, analysts argued this consolidation can only be achieved through, not reconciliatory, but honest and candid dialogue, in order to eliminate the issues currently obstructing true cooperation between GCC member states. “The summit should rearrange the Gulf House to cement its security and foil any breaches by foreign forces...

    • SEVEN STEPS TO SAVE MONEY IN THE UAE

      With high rental costs, rising bills and a spending culture, the UAE is an expensive place to live, which is why so many expats leave with less than they arrive. Many expats are attracted to the Emirates by tax-free salaries with every intention of saving each month, but their plans quickly evaporate as they get caught up in the lifestyle on offer and splurge their income Most UAE residents are unsure of the steps needed to achieve financial goals Seven in ten UAE residents are unsure of the steps needed to achieve their financial goals, a recent poll by...

    • How VAT will impact everything from auto insurance to cleaning contracts

      ubai: Some UAE consumers thought they had finished paying for their car insurance and other services for the coming year. Now they’re having to think again. Gulf News has heard from some consumers after they received letters asking for more money for service contracts that extends into 2018. This includes auto insurance, commercial rental agreements and contracted services. Companies too are confused about how this will impact their service agreements, and lawyers that Gulf News spoke to say many are struggling to figure out just how to recover tax from customers, especially those who have paid for their services...

    • Toshiba shares fall on new share sale plan toshiba innovation

      Toshiba shares fell nearly 5% on Monday after the company announced a plan to help it retain its listing on the Tokyo Stock Exchange (TSE). On Sunday, Toshiba said it would raise $5.4bn (£4.1bn) from new shares to plug a hole in its balance sheet left by its bankrupt US nuclear unit. The TSE’s rules require the delisting of any company with a negative net worth for two consecutive years. Toshiba needs a positive net worth before the delisting deadline in March. The share sale is a short-term fix aimed at retaining the listing while a much bigger deal...

    • Singles’ Day: China’s shopping festival makes new record

      11 November Shanghai(China)-Alibaba, the Chinese e-commerce giant, said its Singles’ Day sales surged past last year’s total just after midday Saturday, hitting a record $18 billion, pointing to a likely giant haul for the world’s biggest shopping event. Once a celebration for China’s lonely hearts, Singles’ Day has become an annual 24-hour extravaganza that exceeds the combined sales for Black Friday and Cyber Monday in the United States, and acts as a barometer for China’s consumers. After a star-studded event in Shanghai late Friday to ring in the event, which is held each year on November 11, the volume of goods sold on...

    • Global Business Forum on Africa 2017 calls for an investment boost in Trade, Finance etc

      The 4th Global Business Forum on Africa, organised by the Dubai Chamber of Commerce and Industry, has called for increase in investment flows between the UAE and Africa in several key sectors, including trade, financial services, logistics, and tourism. A poll conducted during the two-day forum revealed that 48% of delegates considered trade to be the most promising sector for investment, followed by financial services (24%), and 14% for both logistics and tourism sectors. Participants labeled the above sectors as key areas where Dubai can offer its expertise and investment to boost African economies. Over the last five years, Dubai Chamber...

    • China – US ink historic deals worth $253.5b

      10 November Beijing-Chinese President Xi Jinping and his US counterpart Donald Trump witnessed the signing of dozens of trade deals with record-breaking volumes in Beijing, which experts say will help narrow the trade imbalance, one of Trump’s biggest concerns. On the second day of Trump’s state visit to China, a total of $253.5 billion in deals in sectors ranging from agricultural produce to high-tech products were reached, in what Chinese Minister of Commerce Zhong Shan described as a “miracle.” However, negotiations are still needed to tackle the structural issues that caused the imbalance of trade between the two economies,...

    • Paypal Launched Its services in India Officially

      8 November Mumbai (India)- Global digital payments major PayPal on Wednesday announced its India operations, after offering cross-border payments in the country for close to a decade, the company said. In a statement issued here PayPal Holdings, Inc, said: “At launch, Indian consumers can use PayPal to shop online at some of India’s most popular businesses. “Merchants offering PayPal will be able to process both local and global payments through PayPal, getting access to PayPal’s 218 million customers around the world and in India through a single integration.” “PayPal has been offering cross-border payments in India for close to a...

    • Infosys slashes revenue guidance for year to 5.5-6.5% second software giant company infosys india

      25 October BENGALURU (INDIA): Infosys drastically slashed its revenue guidance for the fiscal, marking a sombre start to new chairman Nandan Nilekani’s tenure and reflecting perhaps the turmoil the company went through over the past months. India’s second largest software services company by revenue said it now expects to grow between 5.5% and 6.5% for the fiscal ending March 2018 in constant currency, down from 6.5%-8.5% it had forecast three months earlier. Constant currency negates the effect of currency volatility, over which the companies have no control. On a reported currency basis, the company is projected to grow between 6.5% and 7.5%, a...

    • UAE Central Bank warns against using ‘digital currency’ digital currency dubai

      24 October Dubai(UAE)- The UAE Central Bank on Monday warned about the risks of using digital currencies as a medium of exchange for now, amid mounting risks including massive volatility, speculation  and money laundering. Speaking on the sidelines of the Islamic Financial Services Board’s Summit, Mubarak Rashid Al Mansouri, Governor of the Central Bank, said digital currencies do not go through official channels and cannot be monitored and controlled, thereby posing risks in case it is used to launder money or fund terrorist activities. “The risks of trading in digital currencies have clearly appeared when the prices of digital...