News

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met President Shavkat Mirziyoyev of Uzbekistan on Tuesday. During the meeting, the two sides reviewed bilateral ties between the two countries, particularly in the tourism, energy, and investment sectors. HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, ...

ABU DHABI / WAM The Khalifa Fund for Enterprise Development (KFED), signed a Memorandum of Understanding with the Abu Dhabi National Oil Company (Adnoc), where Khalifa Fund will provide a range of training programmes and entrepreneurship workshops for Adnoc’s employees and retirees who are looking to enhance their skills and knowledge in the SME sector. The signing of agreement was held ...

DUBAI / WAM The first ever global report on employee volunteering projects has found that there is substantial potential amongst private companies in the UAE for participation in employee voluntary projects that could contribute significantly to the achievement of United Nations Sustainable Development Goals (UNSDGs). “Investing for the Future: The Practice and Potential of Employee Volunteering in the UAE”, was ...

Abu Dhabi / WAM The Federal Authority for Nuclear Regulation (FANR), management board reviewed the 2020 Operational Plan blueprint that details key activities supporting the Authority’s mission to regulate the nuclear industry in the UAE. The Board learned about latest updates of the FANR ongoing review of the Operating License Application for Units 1 and 2 at the Barakah Nuclear ...

Bloomberg SoftBank Vision Fund is joining a $300 million investment in Cloudminds, helping the Chinese robotics and artificial intelligence startup ramp up production capacity with the goal of tripling its revenue this year. Cloudminds, which last raised money in 2017 at a $440 million valuation, aims to sell half a million of its robots this year to Chinese customers from ...

Bloomberg Alibaba Group Holding Ltd may get its cheapest dollar-denominated syndicated loan ever as it negotiates with banks to amend terms of its existing $4 billion borrowing. The Chinese Internet giant wants to cut the interest margin of the facility that it signed in May 2016 by 25 basis points to 85 basis points over Libor, said people familiar with ...

Bloomberg China’s former top internet regulator was sentenced to 14 years in prison for corruption, completing the downfall of a once-high-flying official who mingled with executives from Apple Inc and Facebook Inc. Lu Wei was found guilty of taking bribes on Tuesday by the Ningbo People’s Intermediate Court in the eastern province of Zhejiang, according to the official Xinhua News ...

Bloomberg Apple Inc. and Goldman Sachs Group Inc. are joining forces in the consumer credit business, launching the Apple Card for iPhones. The card is tied to Apple Pay, a service that lets people load banking information and pay in store or use it for purchases online. It works globally where Apple Pay is accepted, lets users track spending in ...

Bloomberg European dealmaking is on course for its worst first quarter since the height of the credit crisis. Unless something dramatic happens by the end of the week, Europe’s on track to have the worst quarter for M&A since 2013, when unemployment and austerity plans were causing protests and countries were asking the European Union to bail out their banks. ...

Bloomberg Brookfield Asset Management Inc. will invest C$750 million ($559 million) in power producer TransAlta Corp. and nominate two directors to its board. Brookfield could also increase its stake in the Calgary-based utility to about 9 percent under certain conditions, according to a statement. The deal allows Brookfield to convert its investment into an equity interest in TransAlta’s Alberta hydro ...