News

Bloomberg Two of the world’s biggest drugmakers agreed to create a giant seller of over-the-counter medicines, in yet another sign that pharmaceutical giants are slowly turning away from the grocery store and back towards the laboratory. GlaxoSmithKline Plc and Pfizer Inc said that they plan to combine their sprawling consumer-health businesses into a single company selling everything from Advil pain ...

ABU DHABI / WAM The UAE maintained its lead in attracting the highest amount of foreign direct investment (FDI) inflows to the Arab region in 2017, according to a top official at the Ministry of Economy. “The UAE was recipient of 40 percent of FDI inflows into Arab and Western Asian countries and 23.3 percent of FDIs directed to Middle ...

Dubai / Emirates Business The Middle East and North Africa (Mena) region is home to some of the most exciting projects markets in the world. With an estimated $3.5 trillion worth of projects planned across the region, the pipeline of future projects is vast. Data from Meed Projects show that construction, which covers private real estate and public buildings, represents ...

Dubai / Emirates Business HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council (DFZ Council), noted that Dubai’s free zones have made a significant contribution to the growth of non-oil trade. Free zone trade in Dubai hit AED394 billion in first nine months of 2018, accounting for 41 percent of emirate’s total trade during the ...

Bloomberg The richest people on earth lost $511 billion this year after record first-half gains were obliterated by a succession of bruising market selloffs. Global trade tensions and worries about a US recession dragged markets lower at year-end. It’s only the second annual decline for the daily wealth index since its 2012 debut, and represents a sharp about-turn from the ...

DUBAI / Emirates Business The Dubai Islamic Economy Development Centre (DIEDC) on Saturday outlined the 2019 action plan for the Dubai: The Capital of Islamic Economy initiative at its fourth board meeting for 2018. Chairing the meeting, Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC, confirmed the UAE’s pioneering role as a catalyst for innovative initiatives ...

Dubai / Emirates Business Global trade enabler DP World has helped establish a 2,500 kilometre long transport corridor from Jebel Ali to the Naseeb-Jaber border crossing between Jordan and Syria. Trucks loaded with goods at its flagship Jebel Ali Port and Free Zone in the UAE have travelled through Saudi Arabia, Jordan, Syria and Lebanon in close collaboration with all ...

ABU DHABI / WAM The United Eastern Medical Services Board announced on Saturday the second phase of the expansion project of Danat Al Emarat Hospital for Women and Children in Abu Dhabi. The second phase includes the construction of a new tower with a capacity of 100 beds, at a total cost of AED300 million ($81.7 million). The new tower ...

ABU DHABI / WAM The Environment Agency – Abu Dhabi (EAD), and RTI International, an independent, non-profit research institute headquartered in the United States, celebrated 10 years of close collaboration on environmental protection technology, systems, and practices. The strategic partnership has enhanced EAD’s capabilities in developing environmental management programmes tailored to Abu Dhabi’s unique biological, social, and economic context. It ...

Dubai / WAM The Department of Economic Development (DED), announced the release of the ‘Dubai Economic Report 2018’ on Saturday. The report reviews the major macro-and sectoral level economic developments and growth in the emirate during 2017. It aims to be a reference for public and private sector decision-making as well as for developing policies and strategies that enhance overall ...