DUBAI / AGENCIES 500 Startups, a Silicon Valley venture fund with a track record of investing in young companies, said on Tuesday Abu Dhabi Financial Group (ADFG) had acquired a strategic stake in the firm. Through this investment, ADFG will hold a strategic stake and will be injecting substantial capital to accelerate the growth of 500’s key initiatives, expand into ...

DUBAI / Reuters Investment Corporation of Dubai (ICD), the Dubai government’s main investment arm, has raised a $1.2 billion loan needed to refinance existing debt, banking sources said. The loan was led by Citi, Dubai Islamic Bank, Emirates NBD, HSBC, ICBC and Standard Chartered. The Dubai sovereign wealth fund, whose portfolio includes stakes in companies such as Emirates Airline and ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) and Abu Dhabi Ports have launched a facility that will reduce trucking of EGA’s aluminium within the Khalifa Industrial Zone Abu Dhabi (KIZAD) by over 290,000 kilometres per year, reducing costs and environmental emissions. The new container freight station will be used to load metal into containers for transfer onto ships for ...

ABU DHABI / WAM The Abu Dhabi Investment Authority (ADIA) on Tuesday announced its intention to establish a presence at the Abu Dhabi Global Market (ADGM) in the International Financial Centre of Abu Dhabi. ADIA manages a global investment portfolio that is diversified across more than two-dozen asset classes and sub-categories. ADIA’s managing director Sheikh Hamed bin Zayed Al Nahyan ...

DUBAI / WAM Arrivals from Europe to the GCC will increase 17% over the period 2018 to 2020, driven by extra flights, routes, competitive fares, and the rising number of mid-market hotels throughout the region, according to the latest data published ahead of Arabian Travel Market 2018, which takes place at Dubai World Trade Centre from April 22-25. According to ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Tuesday received Sheikh Khalid bin Ahmed Al Khalifa, Minister of Foreign Affairs of Bahrain, on the sidelines of the Arab Media Forum. The Bahraini Foreign Minister conveyed the greetings of King Hamad bin Isa Al Khalifa of ...

SHARJAH / WAM The Court of HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, on Tuesday mourned the death of Sheikh Ahmed bin Mohammed bin Sultan Al Qasimi, who passed away on Tuesday morning. Sheikh Ahmed was the brother of HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy ...

Dubai / Emirates Business Preparations for Expo 2020 across all industries especially the construction and hospitality sectors are in full swing in Dubai. By the time Expo 2020 arrives, Dubai will have a lot more hospitality options including restaurants and hotels for its residents and visitors. In planning for Expo 2020, Dubai has set a visitor goal of 20 million ...

TOKYO / WAM The Japanese Prime Minister, Shinzo Abe, received His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and his accompanying delegation. Sheikh Abdullah conveyed the greetings of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, attended the launch of the Arab Media Forum (AMF), on Tuesday. His Highness was accompanied by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and HH Sheikh Maktoum bin Mohammed ...