News

MUSCAT / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, offered his condolences to Sultan Haitham bin Tariq on the demise of Sultan Qaboos. Sheikh Mohamed bin Zayed conveyed the condolences of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to Sultan Haitham of ...

ABU DHABI / WAM The Statistics Centre Abu Dhabi, SCAD, released its annual national accounts report for 2018, in addition to the quarterly reports for the second and third quarters of 2019, where, cumulatively, the results showed a significant increase in Abu Dhabi’s gross domestic product (GDP). The GDP at current prices reached AED932.4 billion in 2018, compared to AED813.6 ...

DUBAI / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – registered 1,969 new companies in 2019, a signal of strong investor confidence in Dubai and the Authority’s position as one of the world’s most interconnected business districts. DMCC finished 2019 with the strongest Q4 registrations in four years. A ...

Abu Dhabi / WAM The Abu Dhabi Fund for Development (ADFD), on Sunday confirmed the allocation of approximately $105 million for eight renewable energy projects under the seventh cycle of its partnership with the International Renewable Energy Agency (Irena). The Irena/ADFD Project Facility announcement marks a record level of funding for any cycle since the Facility was launched and will ...

DUBAI / Emirates Business Emirates Glass, a subsidiary of Dubai Investments PJSC and one of the largest processors of flat architectural glass in the Middle East, announced that it has recorded manufacturing of more than 1,800,000sqm of glass products, valued at over AED 180 million ($49 million) during 2019. Recording a 10% rise in business as compared to the previous year, ...

Dubai / WAM More than 250 start-ups are expected to participate in the AIM Startup Pitch Competition, which will be held on the sidelines of the 10th edition of the Annual Investment Meeting (AIM 2020), slated to take place at the Dubai World Trade Centre from March 24-26. AIM 2020 will offer start-up exhibitors an opportunity to showcase their businesses ...

DUBAI / WAM Emirates Central Cooling Systems Corporation, Empower, announced its participation in the thirteenth edition of the World Future Energy Summit 2020, the world’s largest annual conference on renewable and future energy solutions. The summit is being held from January 13-16 at the Abu Dhabi National Exhibition Centre (Adnec). The World Future Energy Summit 2020 is a global industry ...

Bloomberg The Treasury Department is proposing that the Trump administration revive twice-yearly talks with China to discuss the economic relationship between the countries, according to people familiar with the matter. The talks — if they go ahead — would be separate from phase-two negotiations on a further trade deal that president Donald Trump has said he wants to start “right ...

Bloomberg Carlos Ghosn’s decision to flee to Lebanon last week effectively ended his legal prosecution in Japan, leaving former Nissan Motor Co executive Greg Kelly at the center of the sprawling case. Under Japanese criminal law, only minor accusations can be tried without a defendant, according to Nobuo Gohara, a former prosecutor. That’s not Ghosn. If found guilty of the ...

Bloomberg South Korean e-commerce giant Coupang Corp is preparing for an initial public offering as soon as 2021, according to people with knowledge of the matter. The Seoul-based company, founded in 2010 by Chief Executive Officer Bom Kim and said to be valued at $9 billion in late 2018, has begun working on tax structuring among other changes as it ...