News

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) signed a Memorandum of Understanding (MoU) with the Government of Zanzibar in the Federal Republic of Tanzania to provide AED37 million ($10 million) towards the development of Wete Hospital on Pemba Island in Zanzibar. The MoU was signed by Mohammed Saif Al Suwaidi, ADFD Director General and Mohammed Ramia Abdiwawa, ...

Dubai / WAM Dubai FDI, the investment development agency of Dubai Economy, announced that the Dubai Multi Commodities Centre (DMCC), will be holding an “Investing in Trade Forum”, on the sidelines of the Dubai Investment Week 2019. The Forum is part of “Spotlight on Investment Opportunities” forums that are a series of specialised forums held in partnership with Dubai FDI’s partners ...

Abu Dhabi / WAM The Majlis Affairs Office at the Abu Dhabi Crown Prince’s Court in coordination with the Abu Dhabi Securities Exchange (ADX), carried out two informative lectures on “Capital Markets and Returns”. The lectures took place in Zakher Majlis in Al Ain and Al Wathba. ADX briefed investors and public about its new market products and services, and vital ...

ABU DHABI / WAM The Government of Abu Dhabi, represented by 32 key government and academic entities, has expressed readiness in preparing its participation at ‘Gitex Technology Week’, which will be held from October 6 to 10, at the Dubai World Trade Center (DWTC). Abu Dhabi Digital Authority (ADDA), the leading governmental entity in charge of coordinating the participation of ...

Dubai / WAM A Norwegian programme to swap plastic waste for financial reward, an online software from Bhutan that calculates healthy, cost-effective school meals sourcing ingredients from local farms, and a Cameroonian project to build sustainable refugee camps are among the 25 projects selected in Expo 2020 Dubai’s Global Best Practice Programme. The 25 success stories – all simple, effective, ...

Bloomberg Toyota Motor Corp is boosting its stake in Subaru Corp to about a fifth of the smaller automaker, as Japan’s biggest car company arms itself for a future of self-driving vehicles, electric cars and evolving transport services. Subaru, the maker of Forester and Outback wagons, will also take a stake in Toyota, strengthening their capital ties and collaboration, according ...

Bloomberg SoftBank Group Corp is tapping Marcelo Claure to help turn around WeWork, after ousting co-founder and Chief Executive Officer Adam Neumann from the corner office earlier this week. Masayoshi Son, the head of SoftBank, WeWork’s largest investor, has asked the former chief executive officer of Sprint Corp to take a more hands-on role helping oversee a cleanup of the ...

Bloomberg Vietnam’s economic growth quickened in the third quarter, underpinned by solid growth in exports and manufacturing. Gross domestic product rose 7.31 percent from a year earlier, up from a revised 6.73 percent in the second quarter, the General Statistics Office in Hanoi said on Saturday. That compared to a median estimate of 6.7 percent in a Bloomberg survey of ...

Bloomberg Apollo Hospitals Enterprise Ltd, India’s largest hospital chain, is considering passing on the proceeds of corporate tax cuts announced to its shareholders, according to people familiar with the matter. Apollo may also use some of its tax savings to pay down debt and invest in the business, which operates 71 hospitals throughout India, said the people, who asked not ...

Bloomberg Indiabulls Housing Finance Ltd was set for the biggest drop in more than a week after the Delhi High Court agreed to hear a petition to investigate the financier. The petition alleged that Indiabulls Housing gave “dubious loans” worth billions of rupees to shell companies through firms owned by the group’s founders “to increase their personal wealth.” The company ...