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Abu Dhabi / WAM Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda, has entered into a Memorandum of Understanding (MoU) with Rakbank on Credit Guarantee and Co-lending programmes for SMEs in the UAE. Under the agreement, Rakbank can offer up to AED10 million financing to small and medium-sized enterprises (SMEs), and ...

Dubai / WAM Etihad Credit Insurance (ECI) and the Kenya National Chamber of Commerce and Industry (KNCCI) have entered into a strategic partnership to boost economic cooperation between the UAE and Kenya by stimulating international trade and investment flows, as well as supporting the business communities in the two countries during the post-pandemic era. The alliance was forged in the ...

Abu Dhabi / WAM Abu Dhabi Islamic Bank (ADIB) has announced it partnered with Visa to introduce the UAE’s first biometric authentication solution for e-commerce transactions. The solution leverages Visa Consumer Authentication Service to deliver a significant improvement in customer experience and reinforced data security. Visa Consumer Authentication Service aims to enhance user experience, as well as mitigate security and ...

Bloomberg Thailand’s state-controlled PTT Pcl, the country’s largest company by market value, has invested in a venture to make plant-based protein, including so-called faux meat, as part of its objective to become less dependent on fossil-fuel businesses. The oil-and-gas giant formed a 300 million baht ($9.6 million) partnership with NR Instant Produce Pcl, which specialises in making protein from jackfruit, ...

Bloomberg Vice President Kamala Harris warned Central Americans not to migrate to the US and said the Biden administration would intensify efforts to combat corruption in the region, after meeting with Guatemalan President Alejandro Giammattei. “Do not come. Do not come,” Harris said at a news conference in Guatemala City. “If you come to our border, you will be turned ...

Abu Dhabi / WAM S&P Global Ratings has assigned ‘AA-‘ long-term issuer credit rating with stable outlook to Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda. The bank has also been assigned a ‘gcAAA’ long-term GCC regional scale rating by S&P Global Ratings, said a statement issued by EDB on Monday. ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) welcomed Lars Pera, Ambassador of Guatemala to the UAE, and Jose Bassila, Commercial Counsellor at the Embassy of Guatemala, to discuss means to boost bilateral ties and stimulate investments in food security, waste management and natural tourism fields, among others. The two sides agreed to organise a coordination meeting ...

Abu Dhabi / WAM First Abu Dhabi Bank (FAB) announced the signing of an agreement with the Mohammed bin Rashid Housing Establishment (MBRHE) to provide flexible financing options for UAE nationals seeking suitable family housing. The agreement comes as part of the ‘Al Yusr’ programme, one of the housing establishment’s initiatives aimed at providing the best financing options for nationals ...

SHARJAH / WAM Air Arabia has announced the introduction of a new service to Phuket, Thailand, with direct flights from Sharjah International Airport starting on July 2. Air Arabia is the first low-cost carrier in the region to launch a direct route to Phuket. The Tourism Authority of Thailand has confirmed that travellers who have been vaccinated against Covid-19 from ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced it will organise the 23rd Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show from October 5-7, at Expo 2020 Dubai. Dewa is the Official Sustainable Energy Partner of Expo 2020 Dubai. The announcement was made by Saeed Mohammed Al Tayer, MD and CEO of Dewa, Founder and ...