Business & Economy

China’s August trade with North Korea surges after UN sanctions

China’s trade with North Korea rose in August to its highest since December 2016, data showed on Saturday, even after the United Nations slapped tougher sanctions on Pyongyang in a bid to choke off a third of its $3 billion in annual export revenue. The world’s second-largest economy imported and exported goods worth $604.27 million in August, up from $456.16 ...

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Dafza companies can get dual licences in Dubai

The Dubai Airport Freezone Authority (Dafza) recently signed a memorandum of understanding (MoU) with the Department of Economic Development (DED) in Dubai to allow Dafza’s hosted companies to obtain dual licences to operate across Dubai. The agreement aims to strengthen cooperation on initiatives targeting all aspects related to providing economic support for Dafza’s main services. It will also facilitate collaboration ...

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Wanted: Ambassadors for Dubai business

Dubai is seeking qualified and well-connected professionals who can attract conferences and meetings to the city Dubai Business Events, a division of the Department of Tourism and Commerce Marketing, is looking for new ambassadors to join its drive to bring more meetings and conferences to the emirate, a senior official said. Abdulla Yousuf, senior manager of business development, ...

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VAT likely to affect UAE retail sector

Large margins in region expected to provide retailers some cushion for the introduction of tax A family shops at a Hypermarket in Sharjah. The appliances sector, especially consumer electronics, will be hardest hit by the introduction of value-added tax (VAT), according to Euromonitor International. As for other segments of the retail sector, the UAE’s first major tax will have varying ...

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All transactions in gold should be with pan card, says RBI Committee of Household

Indian markets are touching all-time highs and they are doing that with foreign investors turning net sellers of equity in 2017. This rally in equities despite foreign investors not participating is happening for the first time because of domestic investor support, giving the impression that domestic investor is well and truly getting converted from investing in gold and real estate ...

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South Africa’s finance minister calls for criminal probe into KPMG

JOHANNESBURG: South African law enforcement agencies should investigate KPMG after the global auditor sacked its top management over work done for business friends of President Jacob Zuma, Finance Minister Malusi Gigaba said.KPMG dismissed its South African division’s top management last week following an internal investigation which found that work it did for firms owned by the Gupta family, a trio ...

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Demonetisation was not required at all: Manmohan Singh

Former Prime Minister Manmohan Singh today said the economy is on a “downhill path” because of the “adventure” of demonetisation undertaken last year which was not required at all, either technically or economically. Singh, a renowned economist considered to be the architect of the reforms of early 1990s, said demonetisation has not been successful in any civilised country, except some ...

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SBI has ‘sufficient growth capital’ now: chairman

Vidya Ram LONDON, September 22, 2017 21:56 IST Updated: September 22, 2017 21:57 IST “; var device = “”; for ( var type in WFClientTypeDef) { if (window.matchMedia(WFClientTypeDef[type]).matches) { switch (type) { case “xlarge”: device = ‘desktop’; break; case “large”: device = ‘desktop’; break; case “medium”: device = ‘tab’; break; case “small”: device = ‘mobile’; break; } break; } } ...

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Difficult NAFTA round three set to start in Canada

OTTAWA: The third round of talks on revamping NAFTA, which start Saturday in Ottawa, are expected to be punishing as diplomatic tensions mount.Over the course of a week, negotiators will hammer out details of the broad proposals submitted by some 20 working groups during the previous round of talks on the North American Free Trade Agreement (NAFTA) in Mexico City.US ...

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