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Bloomberg Europe’s space champions are urging buyers at home to favor their technology over that of foreign rivals, as competition intensifies from the likes of Elon Musk’s Space X. As executives from the space industry meet in Paris this week for the World Satellite Business conference, French satellite operator Arianespace is calling on Europe to translate its space sovereignty ambitions ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB), has been named ‘Most Innovative Investment Bank from the Middle East’ for the third consecutive year at The Banker’s 2018 Investment Banking Awards. Andy Cairns, FAB’s Senior Managing Director and Head of Global Corporate Finance, received the award at a ceremony in London. In their 12th year, the awards celebrate innovation ...

ABU DHABI / WAM The UAE’s economic sectors have continued their growth since the start of the current year, according to a digital review of relevant indicators, which encouraged the banking system to fund the activities of various sectors that support the national economy. Statistics issued by the Central Bank of the UAE show that ten vital economic sectors witnessed ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced, on Monday, major development plans for Ruwais City, a 6.9-square kilometer community near the Ruwais Industrial Complex, in Abu Dhabi’s Al Dhafra region. The project will see the city’s population nearly double, over the next 15 years, to more than 50,000 people, as well as the creation of ...

Paris / WAM Yahsat, a leading global satellite operator based in the UAE and wholly owned by Mubadala Investment Company, and Hughes Network Systems (Hughes), a subsidiary of EchoStar Corporation, on Monday announced an agreement to enter into a joint venture to provide commercial Ka-band satellite broadband services across Africa, the Middle East and southwest Asia. This new venture combines ...

DUBAI / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, stressed the importance of providing opportunities for Emirati youth and encouraging them to develop new skillsets associated with Artificial Intelligence (AI) technologies. Al Olama’s statement came on the back of signing a strategic partnership agreement with Mohammed Amin, Senior Vice President, Middle East, Turkey and Africa ...

Bloomberg The Indian rupee and bonds sunk after the current-account deficit widened to the most in five years, as an emerging-market rout raises investor scrutiny of countries with worsening balance of payments. The rupee slid as much as 1.3 percent on Monday to a new low of 72.6738, leading losses among Asia’s emerging-market currencies. Sustained weakening has prompted authorities to ...

Dubai / Emirates Business Indian economy, which registered 8.2 percent growth in the first quarter of 2018-19 fiscal year – the highest in recent history – is expected to attract large-scale investment from the GCC to India, following the recent announcement of the development of a $44 billion oil refinery to be built by Abu Dhabi National Oil Company (Adnoc), ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), on Monday launched its framework to regulate operators of Private Financing Platforms (PFPs), serving equity investment, debt financing and trade receivables funding needs of start-ups, private enterprises and SMEs. This follows the successful completion of a public consultation by Financial Services Regulatory Authority (FSRA), on August 16, to introduce a tailored, ...

SHARJAH / WAM The Department of Sharjah eGovernment announced that 36 government departments in the emirate are set to participate in the “GITEX Technology Week 2018,” scheduled from October 14-18 at the Dubai World Trade Centre (DWTC). All the departments in the Sharjah government are geared up to showcase their latest services at the pavilion of the government. Innovative technological ...