News

Bloomberg OVH Groupe SAS kicked off an initial public offering in Paris, looking to raise as much as $469 million that will give the cloud-storage provider funding to finance its competition with Amazon.com Inc. and accelerate its international expansion. Existing holders will also sell shares in the IPO, the company said in a statement on Monday. OVHcloud was valued at ...

Bloomberg Facebook Inc pushed back on reports that the company was aware of the negative impact of its products, claiming that the allegations don’t tell the whole picture. The issues of content moderation, mental health risks and misinformation are complex and defy simple policy solutions, according to a statement from Nick Clegg, Facebook’s head of global affairs. He said the ...

MORONI / WAM The Emirates Red Crescent (ERC) inaugurated several development projects to support the victims of Tropical Cyclone Kenneth that struck the Comoros Islands three years ago. Some 280,000 people will benefit from the projects, which aim to support the health and education sectors by reinforcing their capacities and improving their services. The projects include the construction and maintenance ...

Dubai / WAM Emirates Central Cooling Systems Corporation (Empower) announced that it has made a new deal with Mitsubishi Heavy Industries Thermal Systems to take advantage of Mitsubishi’s revolutionary air-conditioning and heating systems, leading to a qualitative leap in Empower’s environmentally friendly district cooling operations. Under the new deal, Mitsubishi Heavy Industries Thermal Systems will supply Empower with advanced water-cooled ...

Sharjah / WAM Sharjah Emergency, Crisis and Disaster Management Team (SECDMT) approved updating the precautionary and preventive measures for home gatherings and social events in the emirate, stating that the number of attendees shall not exceed 50 people at home and 100 people in halls of the Districts and Villages Affairs Department with 4 meters to be kept as a ...

AJMAN / WAM Ajman’s Department of Finance announced that it has witnessed the opening of 44 free bids in its electronic procurement system. Since the opening of the free bids, the system saw the registration of 525 suppliers in its ‘Supplier Portal’ from April to August 2021, a 55 percent increase from 337 registered suppliers during the same period last ...

ABU DHABI / WAM AD Ports Group announced it will establish a state-of-the-art cruise terminal at Marsa Zayed in Aqaba, Jordan, following the signing of a Heads of Terms agreement with the Aqaba Development Corporation. It will be the first facility to be developed by AD Ports Group in the Hashemite Kingdom of Jordan and its first cruise facility outside ...

Dubai / WAM National Bank of Fujairah (NBF) announced the launch of its electronic trading platform – NBFX, which offers customers digital experience to hedge their treasury requirements. The new platform is available for both conventional and Shariah-compliant banking customers on a 24/5 basis, which means that customers can execute transactions during and beyond the bank’s working hours and benefit ...

ABU DHABI / WAM A high-level UAE delegation headed by Abdullah bin Touq Al Marri, Minister of Economy, will visit the United Kingdom this week to discuss the development of economic relations and explore more opportunities to enhance cooperation between the two countries. During the visit, the two sides will also discuss the expansion of partnerships at both public and ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) has published the ‘Typologies in the Financial Sector’ report, produced by the Supervisory Authorities Sub-Committee, which is chaired by CBUAE. The Supervisory Authorities Sub-Committee includes Abu Dhabi Global Market and Dubai Financial Services Authority, the Executive Office for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), and the ...