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BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, on Monday announced that one of its affiliates has acquired a majority ownership position in KSM Consulting, a leading consulting firm specialising in data analytics, technology and digital transformation, from Renovus Capital Partners, which will continue to maintain a minority stake in KSMC. ...

ABU DHABI / WAM SDF, the investment arm of Tawazun Economic Council, and EOS Defence Systems Pty Limited (EOS) have signed an agreement to establish a JV with equal partnership, which would design and develop a new multi-platform Light-Weight 14.5 x 114 mm Chain Driven Machine Gun in the UAE, with the involvement of international and local engineering and designing ...

Abu Dhabi / WAM The second day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2021 has seen the UAE Armed Forces sign 11 new deals, worth AED 7.293 billion, with local and international companies. The cumulative value of deals signed at Idex and Navdex 2021 is now AED12.323 billion. Staff Brigadier-General Mohammed Al Hassani, Official ...

Abu Dhabi / WAM His Highness Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation, has inaugurated the Emirati multi-mission vessel “Saadiyat”, marking its joining to the UAE Navy’s existing fleet. During the celebration, HH Sheikh Nahyan expressed his pride in joining the members of UAE’s naval ...

ABU DHABI / WAM Tawazun and MBDA have signed a head of terms agreement with the intent to cooperate in the field of smart guided weapon systems. Matar Ali Romaithi, Chief Officer of the Economic Development Unit at Tawazun and Florent Duleux, Group Export Sales Director at MBDA, signed the document during this year’s Idex exhibition in the presence of ...

Abu Dhabi / WAM The launch of the 15th edition of the International Defence Exhibition and Conference (Idex) and the Naval Defence and Maritime Security Exhibition (Navdex) 2021 at the Abu Dhabi National Exhibition Centre (Adnec) heralded a period of recovery from the coronavirus (Covid-19) pandemic, underscoring the importance of global cooperation in addressing the impact of the pandemic on ...

Bloomberg Democrats begin the final push for President Joe Biden’s $1.9 trillion stimulus bill this week, dropping any pretense of bipartisanship to quickly pass the package before an earlier round of benefits runs out. This will be the first real test for Democrats’ full control of government since former President Donald Trump’s impeachment trial, with implications for the rest of ...

Bloomberg Romania’s economy outperformed the rest of the European Union (EU) last quarter as the government opted not to impose the kind of harsh lockdown that shuttered most of the continent. Output not only grew from the previous three months, but surged more than 10 times what analysts had expected. The expansion of 5.3% puts it ahead of all other ...

Bloomberg Around 1,000 European Union (EU) finance firms are expected to open their first offices in the UK after losing their passporting rights because of Brexit. Roughly two-thirds of the 1,500 money managers, payment firms and insurers that have applied for regulatory permission to continue operating in the UK previously had no physical operations in Britain, according to Financial Conduct ...

Bloomberg Europe’s consumer-facing companies face a critical choice for when the pandemic passes: should they exploit the expected pickup in business by raising prices? There’s likely to be a rush to hairdressers, restaurants and tourism agencies reopening when virus curbs end, fueled by pent-up demand and a hoard of cash accumulated after more than a year of forced saving. Some ...