News

ABU DHABI / WAM Mubadala Investment Company, Abu Dhabi’s strategic investment and development fund, has exchanged a set of strategic agreements with the Republic of Uzbekistan, in which future partnerships can be explored across three key strategic sectors; the conventional power generation, renewables, and the oil and gas sectors of Uzbekistan’s economy. This will build on the existing strategic government-to-government ...

Dubai / WAM Uber and Careem have reached an agreement for Uber to acquire Careem for $3.1 billion, consisting of $1.7 billion in convertible notes and $1.4 billion in cash. The acquisition of Careem is subject to applicable regulatory approvals. The transaction is expected to close in Q1 2020. Uber will acquire all of Careem’s mobility, delivery, and payments businesses ...

ABU DHABI / WAM Continuing its upward streak for the second straight month, the total foreign currency assets held by the Central Bank of the UAE increased to AED359 billion by the end of February 2019, a growth of 3.2 percent from AED348 bn in the preceding month, as current account balances and deposits with foreign banks strengthened to AED289.76 ...

Kuwait / Emirates Business Gulf Craft, the Emirates pioneer builder of luxury yachts and leisure boats, and Al Boom Marine, its dealer in Kuwait, explore a world of opportunities at the 7th international edition of the Kuwait Yacht Show 2019. The shipyard returns to the show with a fleet of 7 yachts and boats, boasting its leading position in the ...

Emirates Business Ideas Abu Dhabi, a two-day ideas festival bringing together some of the brightest minds from the UAE and around the world to tackle complex global challenges, returns for the third time on March 27-28. Part invite-only Forum, part public Festival, Ideas Abu Dhabi will be held at New York University Abu Dhabi (NYUAD), on Saadiyat Island and features ...

Beirut / Emirates Business Emirates, the world’s largest international airline, is looking for Lebanese candidates to join its multinational cabin crew team. The Dubai-based airline is holding two Cabin Crew recruitment open days at Beirut and Jounieh. The Open Day at Beirut will be held at 9.00am sharp on March 30 at Movenpick Hotel Beirut, General de Gaulle Avenue Raoucheh, ...

SHARJAH / WAM A total of 18 countries from around the world will be participating in the 46th Watch and Jewellery Middle East Show, which is due to be held from April 2-6 according to Expo Centre Sharjah. A top official said that Expo Centre Sharjah has completed necessary preparations to host the largest and longest running event for precious ...

FUJAIRAH / WAM His Highness Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, highlighted the importance of preserving the maritime environment and maritime resources to achieving sustainable development, in line with international environmental conventions, most of which were ratified by the UAE. He also noted the directives of HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme ...

Dubai / WAM The Abundance 360 Summit (A360), being held for the first time in Dubai highlighted, during its first day, the latest global industry trends and challenges that are presented by the evolvement of technology. Delegates representing top financial institutions, unicorn tech companies, representatives of some of the region’s most renowned family offices and senior management of Fortune 500 ...

Abu Dhabi / WAM Emirates NBD, together with FinTech Hive announced a new programme where they are certifying FinTechs that collaborate, co-create and innovate using Emirates NBD’s API (Application Programming Interface) Sandbox. API Sandbox is an important milestone in the bank’s AED1 billion digital transformation programme. The platform, which has been opened up to developers and FinTech firms, consists of ...