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Empower has garnered three loan instalements

The Emirates Central Cooling Systems Corporation, Empower, announced that it has prepaid three loan instalments of US$157.5 million (AED580 million) prior to their maturity. With these prepayments and payment of DIB facility of $128 million, Empower has fully settled its term loan facilities for a total amount of $728 million …

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AI solutions pioneered by DEWA joint venture

The Dubai Electricity and Water Authority, DEWA, has signed a memorandum of understanding, MoU, with Whizkey Future labs, a start-up company, to develop innovative and futuristic solutions to disrupt the current electricity and water utility business models. This will be done using Fourth Industrial Revolution technologies such as Artificial Intelligence, …

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Dubai’s tourism college to serve people of determination

The Dubai College of Tourism, DCT, an institution established by Dubai’s Department of Tourism and Commerce Marketing, Dubai Tourism, has announced the launch of a training programme to teach individuals working with tourists to provide the best level of customer service to people of determination. Inclusive Service is an online …

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Dubai launches E-Hail Taxi Joint Venture with Careem

The Dubai Roads and Transport Authority, RTA, has announced the establishment of an E-Hail Taxi Joint Venture with Careem Networks Company (Careem); the leading ride hailing technology company in the region. Accordingly, the new company, the name and logo of which will be announced in the next few months, will …

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UAE gets lion share of Mideast FDI

The UAE maintained its lead in attracting the highest amount of Foreign Direct Investment (FDI) inflows to the Arab region in 2017, according to a top official at the Ministry of Economy. “The UAE was recipient of 40 percent of FDI inflows into Arab and Western Asian countries and 23.3 …

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Gross bank assets in UAE rise by 6% from 2017

The UAE gross bank assets amounted to AED2.854 trillion by the end of November 2018, 6.00 percent up from AED2.694 trillion by the end of December 2017, according to Central Bank of UAE statistics released today. Gross credit increased to around AED1.653 trillion by the end of November, a growth …

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Dubai airport makes world’s top ten list

The achievement of the Emirate of Dubai to welcome one billion passengers across the five continents shows that it has entered into a new stage in strengthening its international presence. According to the latest ranking of the International Civil Aviation Organisation, ICAO, on the world’s ten most dynamic and attractive …

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UAE building new airport lounge in Rome

Emirates’ passengers travelling from Rome’s Leonardo da Vinci-Fiumicino Airport can now enjoy greater levels of comfort and convenience with the opening of the airline’s new lounge. All Emirates’ First Class and Business Class customers, as well as Skywards Platinum and Gold members, travelling on the airline’s two flights a day …

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Kyrgystan relations topic of discussion in UAE

H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has discussed ways of broadening the scope of cooperation with Kyrgyzstan at a meeting with Chingiz Aidarbekov, the Foreign Affairs Minister of the Central Asian state, at the ministry’s premises in Abu Dhabi. H.H. Sheikh Abdullah …

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OPEC Fund to loan Malawi public sector

The OPEC Fund for International Development, OFID, has signed a US$12 million public sector loan agreement with Malawi for a project aimed at improving health and living standards for about 125,000 people. The loan will finance infrastructure related to potable water and safe sanitation as part of the Nkhata Bay …

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UAE Central Bank raising interest rates

The Central Bank of the UAE (CBUAE) has announced that, effective,Thursday 20th December, 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds …

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Abu Dhabi development fund grants $50 million to Chad

Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, today allocated a government grant worth US$50 million (AED184 million) to support the Chadian government in achieving its development goals. The funding will contribute to driving financial stability in the Central African country and fuel the growth …

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Details of Saudi expansionary budget revealed

The Saudi Council of Ministers, chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, has approved the largest budget in the Kingdom’s history with SAR1.106 trillion spending in 2019, approximately 7 percent higher than the projected expenditure by the end of the fiscal year …

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Capacity building key for financial expansion in Sharjah

The need for more quality resources in Arabic, financial constraints, and mobility are among the main challenges facing the young workforce when attempting to advance their skills. These were revealed during a two-day annual retreat held by Sharjah for Capability Development (SCD), a subsidiary of the Rubu’ Qarn Foundation for …

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Saudi King pledges Vision 2030 economic reform pacakge

Saudi Arabia’s King Salman on Tuesday announced a 1.11 trillion Saudi riyal ($295 billion) budget, the kingdom’s biggest ever, and said the government will move ahead with economic reforms. “We are determined to go ahead with economic reform, achieving fiscal discipline, improving transparency and empowering the private sector,” he said …

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UAE’s dnata reaches Czech republic

dnata has been expanding its operations and production in the Czech Republic to meet the growing demand for its quality inflight catering and inflight retail services. Operating a state-of-the-art facility at Vaclav Havel Airport, the company currently serves 18 airlines in Prague. dnata’s growth in 2018 has been driven by …

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Joint venture signed with SIAL Middle East, food beverage giant

Abu Dhabi National Exhibitions Company, ADNEC, has signed a joint venture agreement with SIAL Middle East, to work together to grow and develop the SIAL Middle East event at the Abu Dhabi National Exhibition Centre through 2021. The strategic agreement enables ADNEC to further promote Abu Dhabi as the region’s …

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Latest UAE-Japan investment forum held in Ajman

The Ajman Chamber of Commerce and Industry, ACCI, and the Department of Economic Development in Ajman organised the UAE-Japan Investment Forum in cooperation with the Japan External Trade Organisation, JETRO. The forum is aimed at opening new skylines of cooperation between the two parties, and to explore the important economic …

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UAE eonomy achievements hailed in latest report

Sultan bin Saeed Al Mansouri, Minister of Economy, revealed that the UAE economy had achieved several developmental milestones in 2018, which have contributed to stimulating its growth, enhancing its competitiveness and ensuring the sustainable development of the economy. The Minister added that the country has reinforced its regional and global …

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UAE receives Solvenian foreign official

Ahmed Sari Al Mazrouei, Under-Secretary of the Ministry of Foreign Affairs and International Cooperation, MoFAIC, received Damjan Bergant, Secretary-General of the Ministry of Foreign Affairs of Slovenia. During the meeting, held in the MOFAIC Under-Secretary’s office in Abu Dhabi, the two sides discussed means of enhancing cooperating between the two …

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Dubai signs MoU with the city of San Salvador

The Dubai Municipality has signed a Memorandum of Understanding, MoU, with the city of San Salvador, the capital of El Salvador seeking bilateral cooperation in various fields of common interest. The MoU was signed by Dawood Al Hajiri, Director-General of Dubai Municipality, and Ernesto Mason García Prieto, Mayor of San …

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LPS Shanghai organised by Dubai Land Department

The Dubai Land Department, DLD, organised the LPS Shanghai, at the Shanghai Convention Centre, China. The DLD was accompanied by a delegation of senior real estate developers in Dubai as strategic partners of the show, which took place from 7th to 9th December, 2018. The Dubai pavilion was inaugurated at …

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“Second Market” Platform topic of discussion at DFM rountable

The Dubai Financial Market, DFM, has organised a roundtable about the listing opportunity on its “Second Market” Platform, in cooperation with the Dubai Chamber of Commerce and Industry and the Dubai Entrepreneurs Council. The discussions focussed on how private companies can unlock capital market opportunities through listing on the “Second …

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Sharjah Chamber of Commerce completes Kenya visit

Sharjah Chamber’s trade mission to Kenya concluded its visit as part of its African tour, where it organised the UAE – Kenya Trade and Investment Forum in Nairobi. The forum, which includes the participation of 30 national companies that operate in various manufacturing and industrial sectors such as iron, steel, …

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Can An Office Chair Boost Your Business Growth?

  Whether it is a startup or a well-established business, your assets will always be your employees. It is due to their hard work that you are able to generate revenue for your business. Thus, it becomes a major responsibility of the business owners to take care of the needs …

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