News

Bloomberg German Chancellor Angela Merkel’s cabinet approved the government’s budget plans for this year and next, including an extra 60 billion euros ($71 billion) in net debt for 2021 to help offset the impact of the coronavirus. The additional borrowing this year takes the total to more than 240 billion euros, as Germany spends freely to support businesses affected by ...

ABU DHABI / WAM In implementation of the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the UAE has announced that it will invest $10 billion with the Indonesia’s sovereign wealth fund – Indonesia Investment Authority. Investments will focus on strategic sectors in Indonesia, ...

ABU DHABI / WAM The Federal Competitiveness and Statistics Centre’s figures revealed that the UAE’s industrial exports in the first 10 months of 2020 were valued at AED84.2 billion. These figures highlight the key role of the industrial sector in driving national economic development and its ability to maintain its activity despite the negative economic repercussions of the coronavirus (Covid-19) ...

ABU DHABI / WAM Despite a slower and only marginal improvement in business conditions around the world, to the tune of AED35 billion in cash dividends for 2020 have been proposed to date by 51 companies listed in the UAE capital markets, according to data released by the listed firms. Banks are the largest distributors of profits, with nine banks ...

Dubai / WAM Middle East Energy Dubai, a global energy industry event formerly known as Middle East Electricity, has revealed that the 2020 edition of the show generated more than AED18 billion worth of business during the three-day showcase, as registration for the 2021 event goes live on Tuesday. Held under the patronage of HH Sheikh Maktoum bin Mohammed bin ...

WASHINGTON / WAM The United States welcomed Saudi Arabia’s initiative to end the Yemeni crisis, as well as Yemen’s Government commitment to a ceasefire and political process in the country. Deputy Spokesperson at the US Department of State Jalina Porter affirmed during a press meeting that discussions in support of peace efforts are ongoing, calling on all parties to commit ...

ABU DHABI / WAM Mubadala Investment Company, the Abu Dhabi-based sovereign investor, invested $75 million in 5-year pre-IPO convertible bonds of Telegram, an operator of the self-named security-focused social media platform, with Abu Dhabi Catalyst Partners (ADCP) investing a further $75 million. The strategic partnership between the companies is also expected to create new collaboration opportunities and thereby further advance Abu ...

Dubai / WAM Dubai managed to place itself within the top 10 or 20 cities globally in more than 100 indicators related to safety and security in several internationally renowned competitiveness reports, according to a policy brief released by the Dubai Competitiveness Office in Dubai Economy. The policy brief, titled ‘Safety and Security Competitiveness in Dubai: Why Dubai is ranked ...

SHARJAH / WAM The Sharjah Institute for Heritage (SIH), organisers of the 18th edition of the Sharjah Heritage Days (SHD), has announced the launch of an AED20,000 photography competition in two categories, open to amateurs and professionals. The first category will include architectural photographs that showcase the aesthetic elements of the venue, and the country pavilions on site. The second ...

DUBAI / WAM EZDubai, a fully dedicated e-commerce free zone strategically located in the heart of Dubai South’s Logistics District, has welcomed UDA Express, one of the largest express companies in China, that will be expanding its operations in the region by benefitting from EZDubai’s e-commerce, logistics facilities, bespoke business solutions, and reach to the high-growth markets of the Middle ...