A long-awaited bankruptcy law could be finalised by late 2016, the UAE's Economy Minister has said. His Excellency Sultan bin Saeed Al Mansoori said investment legislation being drafted would permit majority foreign ownership of companies in certain sectors. Under current rules, bounced cheques and unpaid loans can land business owners in jail. The measure is expected to help smaller firms in particular to manage their debt more responsibly.
Dubai’s new business support measures set to boost resilience, growth
Officials overseeing Dubai’s tourism and key economic sectors have said that the business support measures announced earlier this week will bolster resilience, help companies navigate short-term challenges and support sustained growth.
Drugmakers face 100% tariff unless they cut prices or produce drugs in US
President Donald Trump signed an executive order on Thursday imposing 100 per cent tariffs on branded pharmaceuticals imported into the US unless manufacturers agree to government drug pricing deals or commit to making their products domestically.
Wall Street soars as traders bet on potential war off-ramp
Wall Street ended sharply higher on Tuesday, lifted by speculation about a potential de-escalation in the Middle East conflict that has sent oil prices soaring and fuelled fears of global inflation in recent weeks.
US trade chief sees only limited role for WTO
The World Trade Organisation will play only a limited role in global trade policy after a failed ministerial meeting in Cameroon, US Trade Representative Jamieson Greer said on Monday, vowing to seek alternative arrangements with like-minded countries.
Dubai South awards AED 2 billion contract for development of 'Hayat' project
Dubai South Properties has awarded a AED 2 billion contract for the development of multiple phases of the 'Hayat' project, a luxury master-planned community spanning 10 million square feet.
