News

ABU DHABI / WAM Adnoc Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (Adnoc), has signed a contract with Borouge, a leading provider of value creating plastics solutions, to handle its Ruwais container terminal operations. The five-year contract, awarded through a competitive bidding process, is the first deal signed between Borouge and Adnoc ...

Dubai / WAM UAE-based Transguard Group on Wednesday released its annual figures for the financial year ending March 31, revealing another record, with revenue, profitand headcount increasing across the board. The figures, audited by PricewaterhouseCoopers, highlight the gro-up’s strength in the market, gene- rating revenue of more than AED2.3 billion, a 22% increase over the previous year and profit over ...

Abu Dhabi / Emirates Business A total of 217 space sector start-ups and entrepreneurs received funding exceeding $2.5 billion throughout 2017, with 14 having been founded in the Middle East, audiences heard at the final day of the Global Aerospace Summit in Abu Dhabi. Of the 217, 121 are based in the US, according to Mark Boggett, Managing Director of ...

Wellington / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met Winston Peters, New Zealand’s Deputy Prime Minister and Minister of Foreign Affairs. During the meeting, the two sides discussed means to advance relations between the UAE and New Zealand, and to strengthen frameworks of cooperation across various sectors, including the trade ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, on Wednesday launched the third cycle of its Internal Excellence Award. In line with the Abu Dhabi government’s strategy to promote excellence across government and public sector institutions in the emirate, the award reaffirms the Fund’s commitment to encouraging innovation and creativity ...

Abu Dhabi / Emirates Business Strata Manufacturing PJSC (Strata), the advanced composite aerostructures manufacturing company wholly owned by Mubadala Investment Company PJSC (Mubadala), signed a Cooperation Agreement (CA) with Dema SpA, the Italian aerospace company headquartered in Naples. The agreement will enable Strata and Dema SpA to create a roadmap that will enable both companies to transfer knowledge and exchange ...

DUBAI / Emirates Business Mashreq bank, the UAE’s leading financial institution closes a $100 million dual tranche syndicated term facility for Stanbic Kenya Bank Limited (Stanbic Bank Kenya) – a subsidiary of the Standard Bank Group (SBG). The transaction closed nearly two and a half times oversubscribed. Mashreq, the sole coordinating bank and book-runner for Stanbic Bank Kenya’s fourth international ...

DUBAI / Emirates Business Noor Bank, one of the leading Shari’a-compliant banks in the UAE, on Wednesday announced the launch of the Noor Business Council (NBC), which is a thought leadership platform. Bringing together SMEs and large corporate clients of Noor Bank, the NBC has been designed to serve as a platform to discuss topics relevant to the business landscape, ...

Dubai / Emirates Business Global air services provider, dnata, has been certified by IATA’s Center of Excellence for Independent Validators in Pharmaceutical Logistics (CEIV Pharma) for its pharma-handling processes and facilities in Dubai. The CEIV Pharma was created by IATA to provide a globally consistent and recognized pharmaceutical product handling certification that focuses on airfreight and temporary storage. The stringent ...

Dubai / Emirates Business Future Blockchain Summit, the world’s largest blockchain festival, hosted by Smart Dubai and organised by Dubai World Trade Centre (DWTC), opened its doors on Wednesday. From a world-class line up of speakers to game-changing signings, experts from around the world have come to Dubai – the future blockchain capital of the world. During her keynote speech ...