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2,712.14 -2.05%
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4.79
Hunt v Johnson: The business view - Dotemirates
14/07/2019

Hunt v Johnson: The business view

The race to replace Theresa May as prime minister is now into its final stages as Boris Johnson and Jeremy Hunt go head-to-head for the Conservative leadership.The party's members will now choose the winner, but what do business owners in a safe Tory seat want to hear from the next occupant of 10 Downing Street?The leafy town of Knutsford in Cheshire is in the constituency of Tatton, which has elected a Conservative member of Parliament in every election but one since it was created in 1983. Former Work & Pensions Secretary Esther McVey is the current MP. Former MPs include...


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Business News

18/08/2019

Lidl lines up suppliers to cover no-deal costs

Lidl's Irish business has reminded British suppliers they are expected to pay any EU import tariffs imposed on goods crossing borders after Brexit.Currently, as both countries are member states, no tariffs are paid.But Lidl's current contracts with suppliers contain a clause saying goods must be delivered with tariffs paid.The supermarket said it had held workshops with British suppliers to make sure they had the necessary information to "avoid any disruption"."We have been working closely for over two years with external consultants, not only to get our business Brexit ready, but also to ensure our valued suppliers are as prepared as...
18/08/2019

Legendary Bond Aston Martin DB5 sells for $6.4 million

A James Bond car, with revolving number plates, machine guns behind tail lights and devices to emit smoke, spread nails and slash tyres of pursuers, has been sold for $6.4 million at a car auction in California, reports said. The Aston Martin DB5 1965 model was modified for James Bond film 'Thunderball' (1965) but did'nt appear onscreen and was used for publicity purposes. The buyer of the iconic car, which once belonged to a British politician, at the Monterey Car Festival was not identified, media reports said.   Click/tap here to subscribe to Khaleej Times news alerts on WhatsApp. Make sure...
18/08/2019

UAE banks' exposure to realty declines

Growth in the UAE banking sector's loan exposure to the real estate sector nearly halved to 8.5 per cent last year, compared to 18.1 per cent in the previous year, due to a persistent decline in property prices as well as a reduction in the number of project launches. According to the UAE Central Bank's Financial Stability Report 2018, the outstanding balance of real estate loans amounted to Dh379 billion at the end of 2018, which was slightly above 20 per cent of total loans. Bank lending to the real estate sector (including both residential and commercial real estate) grew...

18/08/2019

Federal Government reveals timeline to implement its 54 banking royal commission recommendations

By senior business correspondent Peter Ryan Treasurer Josh Frydenberg has revealed an "implementation road map" around the 54 recommendations from the financial services royal commission that called for Government action.The final report from commissioner Kenneth Hayne made 76 recommendations, 54 of which were directed at the Government, which has been accused of dragging its feet in response to the commission.In what is described as a "full implementation road map", Mr Frydenberg said more than a third of the Government's commitments in response to the final report will have been implemented or will have legislation before Parliament by the end of...
18/08/2019

New businesses in Dubai pick up in first half of 2019

Dubai has once again proved its resilience despite a slowdown in global markets as investors posed trust in the emirate's growing economy, which continued to enhance its appeal as a destination for sustainable business growth. The latest report issued by the Business Registration and Licensing (BRL) sector of Dubai's Department of Economic Development (DED) on Saturday showed that 14,737 new licences were issued during the first half of 2019 compared to 11,059 in the same period last year, reflecting a year-on-year growth of 33.25 per cent. The commercial sector remained the top choice of new investors as it comprised 52...

Credit demand subdued, economy needs stimulus: SBI Chairman

Kolkata: State Bank of India (SBI) Chairman Rajnish Kumar on Sunday said credit demand remains subdued and there is a need for stimulus in the economy. Though lack of credit demand exists in the economy, there is no supply-side constraint as the public sector banks are more or less well-capitalised, he said. "Demand for credit in the economy is subdued. There is a need for stimulus in the economy", Kumar told reporters here. He was in the city to attend the multi-level consultation programme with the branch managers of SBI in the region. "There is no supply-side constraint. More or...