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Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), on Monday successfully launched its second edition of fintech Abu Dhabi Summit, held under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council, at the Fairmont Bab Al Bahr, Abu Dhabi. The two-day event, was well-attended by about 1,000 participants comprising senior government ...

ABU DHABI / WAM Plug & Play, a global innovation platform, bringing together the best startups and the world’s largest corporations, will start deploy capital in the UAE by Q1 2019 “to invest in the local startup scene more proactively,” Omeed Mehrinfar, Managing Director Fintech, at Plug and Play told the Emirates News Agency (WAM). “Actually we could have started ...

DUBAI / WAM The Dubai Land Department (DLD), and the Dubai Creative Clusters Authority (DCCA), signed two Memoranda of Understanding (MoUs), in line with the interests of the two parties to structure and develop their relationship. The first MoU covers the integration of electronic systems and the exchange of both information and technical expertise, while the second revolves around the ...

DUBAI / WAM The Dubai Science Park, a science-focused business community, hosted a panel discussion in partnership with CPhI Middle East and Africa, the region’s most comprehensive pharma gathering, to discuss the importance of attracting manufacturing activities to the local pharmaceuticals and medical equipment sector and decrease dependency on medical imports. Themed ‘Dubai Industrial Strategy 2030: Advancing the UAE pharmaceutical ...

Bloomberg The cost of delivering world trade is about to go up. A.P. Moller-Maersk A/S, the world’s largest container shipping line, said that customers using its giant box ships will have to pay separately for fuel from 2020, when prices are expected to surge because of tougher environmental standards. The regulations are designed to cut down emissions of sulfur, a ...

Bloomberg Saudi Arabia’s sovereign wealth fund raised an $11 billion loan, marking its first-ever borrowing. The loan was larger than initially planned due to strong interest from banks and establishes a core banking group for the Public Investment Fund to work with on future deals, the fund said. “This is the first step in incorporating loans and debt instruments into ...

Bloomberg New Jersey is taking a step closer to erecting wind turbines off the coast of some of its most storied beaches. State regulators are about to consider Governor Phil Murphy’s proposed solicitation for 1.1 gigawatts of offshore-wind farms. The process was expected to begin on September 17, subject to approval by the state’s Board of Public Utilities, Murphy said ...

Bloomberg More than half of South Africa’s core coal plants are running low on fuel, with at least four holding less than 10 days of supply, and the country’s power utility plans on trucking and railing emergency stocks as far as 400 kilometres (249 miles). State-owned Eskom Holdings SOC Ltd. has 15 around-the-clock baseload coal stations throughout the nation, nine ...

Bloomberg KKR & Co. agreed to sell Singapore hard-drive component maker MMI Holdings Ltd. for about $645 million including debt, people with knowledge of the matter said, exiting the oldest Asian investment listed in its portfolio. KKR signed a deal to sell MMI, which it has owned for 11 years, to a Chinese buyout group led by an affiliate of ...

Bloomberg Dalian Wanda Group Co., the Chinese firm controlled by Wang Jianlin, is scaling back its bet on AMC Entertainment Holdings Inc. as part of a push by the billionaire to shore up finances. The largest US movie-theatre chain will receive a $600 million investment from private equity firm Silver Lake, letting it buy back stock owned by Wanda and ...