News

Dubai / WAM EZDubai, the fully dedicated e-commerce free zone strategically located in the heart of Dubai South’s Logistics District, has announced that four new facilities of 270,000 square feet are currently under construction. Preparing for demand in the future, the four facilities are under development to complement the 1,300,000 square feet already developed and handed over. The announcement comes ...

Abu Dhabi / WAM Abu Dhabi has significantly expanded its eco-tourism offerings with the announcement that new marine protected sites across the emirate have now been made accessible to the public. The newly unveiled areas will give residents and visitors a host of new options for exploring the emirate’s coastline and waterways, with the initiative also supporting the emirate’s maritime ...

Bloomberg The ride-hailing unit of Zhejiang Geely Holding Group Co, which raised almost $600 million earlier this month, is already in talks with investors for another funding round as it seeks to make ground on dominant market leader Didi Chuxing Inc. The next round of fundraising may be completed in the first half of 2022, Cao Cao Mobility Chief Executive ...

Bloomberg Indian Prime Minister Narendra Modi launched a program that will create a unique digital health identity for over 1.3 billion people and allow them to access their records online, part of an effort to enhance efficiency in a healthcare system constrained by the pandemic. The Ayushman Bharat Digital Mission, unveiled on Monday, aims to create digital health infrastructure to ...

Bloomberg Venture backers made a record number of investments in Southeast Asian startups in the first half of this year, though the value of those deals declined as investors focus on early stage deals in the region’s burgeoning internet scene. There were 393 investments across the region in the first half, topping the previous record of 375 in the first ...

Bloomberg Ninja Van, a Singaporean logistics startup, raised $578 million from investors including Chinese e-commerce giant Alibaba Group Holding Ltd in a series E round. Existing investors B Capital Group, the venture capital firm set up by Facebook Inc co-founder Eduardo Saverin and Raj Ganguly, a former executive at Bain Capital, and European parcel delivery company Geopost/DPDgroup, also participated in ...

Bloomberg Singapore’s finance minister said the country is committed to reopening, and that recently reimposed curbs are to ensure the health system can handle an increased number of daily cases. “Our overall strategy has not changed,” Finance Minister Lawrence Wong said. “We are committed to reopening our economy and our society progressively, but our aim has always been to do ...

Bloomberg China may be diving head first into a power supply shock that could hit Asia’s largest economy hard just as the Evergrande crisis sends shockwaves through its financial system. The crackdown on power consumption is being driven by rising demand for electricity and surging coal and gas prices as well as strict targets from Beijing to cut emissions. It’s ...

ABU DHABI / WAM Mohamed Helal Al Mheiri, Director-General of the Abu Dhabi Chamber, and Michal Kovac, Ambassador of Slovakia to the UAE, have discussed enhancing UAE-Slovakia trade cooperation and economic relations. During a meeting at chamber’s headquarters in Abu Dhabi, Al Mheiri said that Abu Dhabi Chamber is ready to increase joint cooperation between businesses in Abu Dhabi and ...

Abu Dhabi / WAM Abu Dhabi Ship Building (ADSB) signed a memorandum of understanding (MoU) with SNO Yachts, a leading Italian superyacht brand, for the construction of Nautilus 45, a first-in-class superyacht shadow and explorer vessel, for one of SNO Yacht’s existing clients. While the state-of-the-art platform will be built by ADSB in the UAE, SNO Yachts will carry out ...