ABU DHABI / WAM Al Yah Satellite Communications Company PJSC (Yahsat), the UAE’s flagship satellite solutions provider, on Monday announced that its government division, Yahsat Government Solutions (YGS), agreed with Edge Group entity, NIMR, a leading manufacturer of combat-proven wheeled military vehicles, to line-fit pre-qualified Comms-On-The-Move (COTM) solutions on NIMR’s vehicular systems. The agreement was announced at the World ...

  DUBAI / WAM Emirates has signed a Memorandum of Understanding with Sri Lanka Tourism Promotion Bureau at the Emirates Group headquarters in Dubai. The pact reaffirms the airline’s commitment to Sri Lanka and outlines mutually beneficial initiatives that will help revive the country’s trade and tourism industry. The MoU was signed by Ahmed Khoory, Emirates’ Senior Vice President, Commercial ...

  ABU DHABI / WAM The Ministry of Industry and Advanced Technology (MoIAT) on Monday signed a Memorandum of Understanding (MoU) with the Federal Ministry of Finance of the Republic of Austria for a comprehensive collaboration in the hydrogen technology industry. The agreement follows the Comprehensive Strategic Partnership, which was signed in July 2021 during the official visit to Austria ...

  RIYADH / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, met separately with Prabowo Subianto, Indonesian Minister of Defence, and Kang Eun-ho, South Korean Minister of the Defence Acquisition Programme Administration, in the presence of a number of senior officers and officials of the Ministry. During the meetings, held on the sidelines of the World ...

  DUBAI / WAM The Ports, Customs and Free Zone Corporation (PCFC), has signed a commitment letter with the Dominican Republic’s General Directorate of Customs to officially implement a Customs Management System that will streamline logistics processes and reduce time and costs in cross-border trade. This agreement was signed at Expo Dubai 2020, as part of the Dominican Republic’s National ...

  SHARJAH / WAM The Sharjah Entrepreneurship Foundation (Ruwad) affiliated to Sharjah Economic Development Department (SEDD) discussed a new set of funding requests submitted by a number of small and medium enterprises in the Emirate of Sharjah. This came during the 8th meeting of the Foundation’s Project Finance Committee, and its second during 2022, which was held at the headquarters ...

  Abu Dhabi / WAM The government of the UAE has worked with the UK government to launch a toolkit to support financial institutions in tackling illicit financial flows in Illegal Wildlife Trade (IWT). Ahmed Ali Al Sayegh, UAE Minister of State, has partnered with UK Minister Lord Tariq Ahmad of Wimbledon to launch the toolkit, which was launched at ...

Markets have a short memory. It’s hardly surprising that when the price of Brent crude jumps 39% over the course of a month, people take fright. Russia is being touted as one of the world’s biggest oil producers after the US these days. The position of its exports on global markets looks highly uncertain, since sanctions that were designed to ...

French customs officials impounding a Russian billionaire Igor Sechin’s superyacht on the Cote D’Azur made for sensational headlines, but it was just one of the moves against a string of oligarchs by the US, Europe and UK. It is easy to mistake these actions simply as punishment. But hitting individual Russian billionaires with sanctions isn’t some mindless act of revenge ...

  Americans are understandably grumpy about 2022 amid buffeting by surging inflation, supply-chain disruptions, labor shortages and Covid-19. They might or might not feel relieved to learn that the country’s business leaders are more upbeat than ever. The Business Roundtable, the lobby of about 200 chief executives of major US companies, said its quarterly Economic Outlook Index reached an all-time ...