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Tag Archives: diversification

UAE begins producing nuclear power

The United Arab Emirates has begun start-up operations in the initial unit of its first nuclear power plant, the Emirates Nuclear Energy Corporation (ENEC) said on Saturday. The Barakah nuclear power plant in Abu Dhabi, a major oil producer, is being built by Korea Electric Power Corporation (KEPCO). The plant …

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Saudi moving into facebook minority stake

Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing (BA.N), Facebook (FB.O) and Citigroup (C.N), according to a U.S. regulatory filing. The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in …

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Adnoc CEO: Diversification is the name of the game

Dr Sultan Bin Ahmad Sultan Al Jaber, Minister of State and Group CEO of the Abu Dhabi National Oil Company (Adnoc) participated in the second annual ‘Future Investment Initiative Conference’, held in Riyadh, Saudi Arabia, on Tuesday. The conference sees global leaders from both the public and private sectors convene …

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Dubai private sector maintains strong growth in June

Dubai’s non-oil private sector activity in June continued to surge with both output and new orders increasing at a sharp rate, indicating strong demand across the three key sectors such as travel and tourism, wholesale and retail and construction. The headline Dubai Economy Tracker Index (DET) eased to 56 in …

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UAE’s non-oil private sector growth spikes

The UAE’s non-oil private sector output and new orders in June rose at their fastest pace this year, indicating a strong improvement in the overall health of the economy, according to the Emirates NBD Purchasing Managers’ Index (PMI). The PMI for June rose to a 2018 high of 57.1, up …

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Stimulus package will aid in diversification

The new economic stimulus package will accelerate the local economy, further promote economic diversification and build a long-term future for its people, heads of Abu Dhabi’s top industrial firms said. “At the heart of this announcement are initiatives that will attract more innovative talent and across all economic sectors, including …

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On the road to Silicon Valley

We’d be lying if we said travelling to cover technology wasn’t part of the fun. Over the years Gulf News reporters have traveled to North America, Europe, Asia and Africa to cover technology trends or the latest gadget launch. But it’s rare for a tech company to actually hold a …

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Dubai gets record 4.7m foreign tourists in Q1

Dubai welcomed a record 4.7 million foreign tourists in the first quarter this calendar signalling strong growth momentum for the economy, the Department of Tourism and Commerce Marketing (Dubai Tourism) said in a statement on Friday. “Welcoming 4.7 million international overnight tourists from January-March 2018, the emirate posted a stable …

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Emirati-owned SMEs bagged Dh1.5b in contracts in 2017

The total value of contracts awarded to Emirati-owned small-to-medium-sized enterprises (SMEs) within the emirate since the Government Procurement Programme was begun in 2002 is Dh5 billion, Dubai SME has said. The total value of contracts awarded in 2017 was Dh1.5 billion — the first time the scheme has generated contracts …

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