News

Bloomberg SpaceX slashed the size of the leveraged loan it sought by $500 million, according to people with knowledge of the matter, the latest twist in a saga that had already seen Elon Musk’s closest ally on Wall Street balk at the terms of the deal. Space Exploration Technologies Corp reduced the loan to $250 million despite having enough investors ...

Amman / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and King Abdullah II of Jordan, on Tuesday attended the signing of a $100 million agreement to finance micro, small and medium-sized enterprises (SMEs) in the Hashemite Kingdom. The agreement, signed at Al Husseiniya Palace ...

DUBAI WAM The Sawab Centre, a bilateral Emirati-American initiative to counter online extremist propaganda and promote positive alternatives, and the Organisation of Islamic Cooperation (OIC) announced a new cooperative agreement to mutually enrich each organisation’s capabilities and to share information and best practices. The Memorandum of Understanding (MoU) forma-lises the mutual interaction and strengthens existing relationship between Sawab Centre and ...

Bloomberg The Trump administration is considering tighter curbs on technology exports, a step that Deutsche Bank AG says would have a “profound and long lasting adverse impact” on relations between the US and China. A request for public comment, published on the US government’s Federal Register, asks if a list of new technologies that have national security applications — from ...

Abu Dhabi / WAM The letters of guarantee issued by banks and other business entities in the UAE amounted to AED12.7 billion during the first nine months of 2018, a growth of 15 percent as compared to the end of 2017, according to the Central Bank of the UAE. In September, the value of the letters of guarantee provided by ...

Sharjah / Emirates Business Investments in Gulf-based fintech startups are expected to reach $2 billion in the next decade, compared to a $150 million invested in the last 10 years, according to a new study by Mena Research Partners (MRP), a leading rese-arch company in the region. The study was released on Tuesday, to coincide with the Sharjah Entrepreneurship Festival, ...

Dubai / Emirates Business SirajPower, the UAE’s leading provider of solar roof plants that offers both construction and financing solutions under one umbrella, on Tuesday announced a strategic partnership with DP World, the global trade enabler. Under this partnership, SirajPower will deliver a first batch of 15 MW to DP World’s facilities in Dubai located at Jebel Ali Free Zone ...

DUBAI / Emirates Business Dubai Land Department (DLD) signed an MoU with Majid Al Futtaim. The agreement showcases both parties’ commitment to strengthening their existing stra-tegic cooperation through unifying efforts in improving the institutional work to serve all customers. HE Juma bin Humaidan, Deputy Director General of DLD, signed the MoU with Hawazen Esber, CEO of Communities at Majid Al ...

Dubai / Emirates Business In keeping with its commitment to offer its customers an unmatched home improvement experience and in line with its vision to expand its presence in UAE, region’s leading home interior solutions brand Danube Home launched its biggest multi-level Showroom at Umm Suqueim street, Al Barsha Dubai. The showroom is spread across 100,000 sq feet area and ...

Dubai / Emirates Business Dubai World Trade Centre (DWTC) has been awarded by Dubai Municipality for its continued support of the UAE Food Bank. The award demonstrates DWTC’s commitment to fostering a culture of giving and social responsibility in the UAE, as well as preserving the environment through waste management. Launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, ...