News

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the Marmoom Reserve project, the first unfenced desert conservation reserve in the country. The reserve spans 10% of the emirate of Dubai’s total area – and will introduce more than 20 environmental, cultural and sports-related initiatives, sponsored by ...

SHABWAH / WAM The Emirates Red Crescent Authority (ERC), signed an agreement on Tuesday to construct and restore lecture halls at the College of Oil and Minerals in the governorate of Shabwah. Signing of the agreement, Mohammed Saif Al Muhairi, Head of the ERC team in Shabwa, said that the construction project is one of a series of infrastructure projects ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) has signed a Memorandum of Understanding with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and seven leading global Central Securities Depository (CSD) companies to collaborate on Distributed Ledger Technology (DLT) implementation in post trade operations, as well as capital market transactions. Today, securities processing, particularly in areas requiring multi-party contact ...

Abu Dhabi / WAM Following the results of a global industry competition launched during Abu Dhabi Sustainability Week last year, Abu Dhabi Future Energy Company (Masdar), selected autonomous vehicle producer NAVYA as the most technically and commercially qualified candidate, to help build the next phase of the mobility network of Masdar City. The driverless vehicle network, currently serving the sustainable ...

Abu Dhabi / WAM Dr Mohammad Salim Al Olama, Under-Secretary of the UAE Ministry of Health and Prevention (MoHAP), has met with Frank Mollen, Ambassador of the Netherlands to the UAE, in the presence of Dr Issa Al Mansouri, Director of the Under-Secretary Office and Director of the International Health Relations. During the meeting, the two sides discussed the opportunities ...

Dubai / WAM Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), received a German delegation, headed by Rainer Baake, State Secretary at the Federal Ministry for Economic Affairs and Energy, at DEWA’s stand during its participation at the World Future Energy Summit (WFES), in Abu Dhabi. The meeting supports DEWA’s commitment to enhance ...

Abu Dhabi / WAM Najeeb Al Ali, Executive Director of the Expo 2020 Dubai Office, has said that some of the participating countries in Expo 2020 Dubai will begin building their pavilions at the start of April 2018, while pointing out that over 180 countries will participate in Expo 2020. He also expects the Expo to receive 25 million visitors, ...

Bloomberg Tencent-backed Chinese startup Kuaishou is seeking to raise funds at about a $17 billion valuation, people familiar with the matter said, as it expands its video-streaming service to Southeast Asia. The company is targeting around $1 billion of financing, the people said, asking not to be identified discussing a private deal. The startup’s desired valuation would be almost six ...

Bloomberg SoftBank Group Corp.’s Vision Fund will invest 460 million euros ($560 million) in Auto1 Group GmbH, valuing the German used-car sales portal at about 2.9 billion euros. Auto1 will use the funds to introduce its service that helps private car owners sell their vehicles in new countries, expand a fintech venture that provides car dealerships with loans, and give ...

Bloomberg If the resilience of emerging markets to rising interest rates is all about the growth outlook, then data from China this week will be key. The country, the world’s biggest emerging market, releases gross domestic product statistics. Less than a week after Angola abandoned its dollar peg, another African nation— Morocco —is due to make good on a promise ...