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Dubai / WAM To enhance the cooperation strategy with different government organisations in the region, the Mohammed bin Rashid Space Centre (MBRSC), signed a cooperation, information and data-sharing agreement with Bahrain’s National Space Science Agency (NSSA), for the application of satellite images and space research sciences. The MoU was signed between Hamad Obaid AlMansoori, Chairman of MBRSC, and Kamal bin ...

BUCHAREST / WAM DP World Constanta, a subsidiary of the Dubai-headquartered global trade enabler DP World, renewed its concession agreement allowing it to operate in the Romanian Black Sea port of Constanta for another 30 years, until 2049. DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem signed the agreement with the Romanian Transport Minister Razvan Cuc in the ...

Dubai / WAM Dubai’s Department of Tourism and Commerce Marketing, Dubai Tourism, reinforced its commitment to the German market during the 2019 edition of ITB Berlin, the world-renowned travel trade show. Bringing together Dubai’s network of industry stakeholders across the public and private sector, the international show provided a platform to share key market insights, further cementing the emirate’s relationships ...

Bloomberg Theresa May looked set to seek a long extension to the UK’s European Union membership after the House of Commons speaker torpedoed her plan to win Parliamentary approval for her deal to leave the bloc. Officials privately accused Speaker John Bercow of over-reaching his powers to help pro-EU politicians deliver a softer divorce and said another vote on May’s ...

Bloomberg India’s Ola is raising $300 million from Hyundai Motor Group, giving the ride-hailing startup more capital to compete for drivers and customers against Uber Technologies just as the US rival prepares for an IPO. The deal values Ola at about $6 billion, said a person familiar with the matter, asking not to be named. The Bangalore-based company will continue ...

Bloomberg General Electric Co. will burn as much as $2 billion of cash this year as the manufacturer tries to repair its balance sheet and put its reeling power business back on stable ground. Free cash flow from the company’s industrial businesses will decline in 2019 as restructuring costs hit at least $2.4 billion, GE said in a presentation detailing ...

Bloomberg The UK labour market remained in robust health in the three months through January, despite a Brexit-induced slowdown in the overall economy. Employment hit a record high after the biggest jump in more than three years and underlying pay growth maintained its fastest pace in more than a decade as companies struggled to fill vacancies, Office for National Statistics ...

Bloomberg Big companies often leave their suppliers hanging for weeks without pay, but Vodafone Group Plc is taking this a step further: it’s investing in a fund that makes money off the delay. The British phone operator poured 1 billion euros ($1.1 billion) into the 2.4 billion-euro fund run by beleaguered Swiss asset manager GAM Holding AG, which generates returns ...

Dubai / WAM On the launch of the third round of Arab Hope Makers initiative, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that “every person has a capacity to give and a talent to invest in serving societies.” He added, “Water drops make a river, and reigniting ...

FUJAIRAH / WAM The National Bank of Fujairah (NBF), held its Annual General Assembly Meeting on Monday, where shareholders approved the distribution of profits of 20 percent of paid-up capital. This took the form of cash dividends of 7.5 percent (AED 23.3 million) and bonus shares of 12.5 percent (AED205.6 million) of paid-up capital. The bank’s shareholders also approved the ...