DUBAI / Emirates Business Next Orbit Ventures (NOVF) ESDM, the newly launched Abu Dhabi-based fund established under the Abu Dhabi Global Markets (ADGM) jurisdiction, announced the launch of $2 billion fund for building semiconductors and electronics fab ecosystem in India. For the first time, an India-based fund going to be raised from GCC-based investors will be regulated by an external ...

Dubai / Emirates Business Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry, announced that it has launched The Caterer, a new age company offering nutritious and balanced meals to businesses, communities and individuals. This catering service, located in Dubai Investment Park, is the 30th commercial project to be launched under Tejar Dubai to date, while it ...

Fujairah / WAM National Bank of Fujairah (NBF), announced that NBF Islamic has once again received the ‘Best Islamic Window – UAE’ award for the second consecutive time at the Islamic Business & Finance Awards 2017. Hosted by CPI Financial, the Islamic Business & Finance Awards has quickly established itself as a reputable platform for banks and financial institutions aiming ...

Abu Dhabi / Emirates Business Khalifa Industrial Zone Abu Dhabi (KIZAD) announced on Wednesday the signing of a Memorandum of Understanding (MoU) with Bank of China Ltd. – Abu Dhabi (BOC) to mutually promote their services for the benefit of both entities’ customers in the UAE and abroad. Under the terms of the agreement and in the context of the projects ...

Dubai / WAM Dubai Food Festival (DFF), Dubai’s annual citywide culinary celebration, will return from February 22 to March 10, 2018. Organised by the Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (Dubai Tourism), the 5th edition of DFF will bring together the best of Dubai’s gastronomy offering and shines a spotlight ...

DUBAI / Emirates Business In a keynote address to cruise line executives and regional industry stakeholders at the opening session of Seatrade Middle East Cruise Forum, Issam Kazim, CEO, Dubai Corporation of Tourism and Commerce Marketing (DCTCM) confirmed that Dubai remains on track to receive one million cruise passengers by 2020. Addressing delegates, he also referenced DCTCM’s plan to ensure ...

Bloomberg US stocks gained but moved off their session highs after Congressional leaders said they’d reached a tentative agreement on a tax overhaul package. The dollar dropped and Treasuries rallied following reports that a measure of US inflation fell short of estimates, only hours before the Federal Reserve was expected to announce its decision on interest rates. All major equity ...

Reuters Abu Dhabi was supported by a strong new listing and Qatar surged after the release of the government’s 2018 budget. The Dubai index dropped 1.4 percent as Emaar Properties sank 6.2 percent to its lowest close since June, in its heaviest trade since June. Emaar said it would pay a special dividend of four billion dirhams ($1.1 billion) related ...

DAMMAM / AGENCIES Saudi Aramco signed on Wednesday agreements with foreign and local companies worth at least 39 billion riyals ($10.4 billion). The bulk of the memorandum of understanding agreements were part of a drive to promote local manufacturing, the company said. One agreement was also signed with drilling and oil service company Schlumberger worth 6 billion riyals. Meanwhile, the ...

DAMMAM / Reuters Saudi Arabia will establish an export bank with capital of $8 billion to support overseas sales by its industrial and mining projects, energy, industry and mineral resources minister Khalid al-Falih said on Wednesday. “A bank for exports with a capital of 30 billion (riyals) will be established to encourage and support exports, and 5 billion riyals have ...