News

Bloomberg Trafigura Group Ltd., the second-biggest metals trader, wants to increase business with post-sanctions Iran. The Singapore-based trading house is seeking to hire a Persian-speaking executive for its refined metals division to work with its traders to “identify, analyze, assess and propose business opportunities in the Arabian Gulf, especially within the rapidly changing Iranian market,” according to a job posting ...

  Bloomberg The International Monetary Fund said its board may be able to approve a $12 billion accord with Egypt by early November, as the country seeks alternative sources of financing to complement the IMF loans. Egypt is making “very good progress” on obtaining about $5 billion to $6 billion of additional funds, and is discussing the issue with Saudi ...

  Abu Dhabi / WAM The UAE has highlighted its efforts in developing an intellectual property system that plays a key role in the move to build a sustainable competitive economy in compliance with the set objectives and goals of the UAE Vision 2021. This came during the UAE Ministry of Economy’s delegation’s participation in the ongoing 56th series of ...

ABU DHABI / WAM Abu Dhabi Marine Services “Safeen”, the marine services subsidiary of Abu Dhabi Ports, supporting the operations of the network of ports and harbours across the emirate of Abu Dhabi with a range of maritime and quayside-support services, announced significant milestones reinfo- rcing Abu Dhabi Ports’ continued expansion and latest remarkable results. Three new state-of-the-art tugs, specialising ...

  DUBAI / WAM Being major re-export hubs in their respective regions, Dubai and the Netherlands can open a gateway for business opportunities with the rest of the GCC, Africa, and Asia, as well as become an ideal trading partner for the European markets, according a senior official of the Dubai Chamber of Commerce and Industry. With access to over ...

  DUBAI / WAM Foreign investors purchased AED524 million worth of shares on the Dubai Financial Market (DFM) and sold AED595.2mn over the week, DFM said. Net foreign investment on the market reached AED71.2 million as aggregate sell. Value of shares bought by foreigner investors comprised 45.4 per cent of the total value of stocks traded during the last five ...

  Seoul / WAM Dubai Holding on Thursday launched the SmartCity concept in Seoul which combines the UAE’s experience in managing smart cities with South Korea’s tremendous technological advancements. The project will cover an area of 51 million sq ft, and will be strategically located between the two metropolitan cities of Seoul and Incheon, close to two international airports. The project ...

  Dubai / WAM A delegation of Mohammed Bin Rashid Al Maktoum Foundation (MBRF) headed by its Managing Director, Jamal bin Huwaireb, recently visited Tokyo to explore avenues of cooperation with key cultural institutions in Japan. bin Huwaireb met Shinjiro Komatsu, Japanese Deputy Minister of Education, Culture, Sports, Science and Technology, and discussed initiatives that Japan has taken to establish a ...

Abu Dhabi / WAM Etihad Airways’ treasury team has again been recognised for excellence in airline treasury management, with three accolades at the 2016 Middle East, African and Islamic Aviation Finance 100 Awards presented by Airline Economics in Dubai this week. Following a string of successes in recent months, winning leading awards from organisations in London, Miami and Dubai, Etihad Airways ...

  Dubai / Emirates Business Africa’s strong economic fundamentals and investment opportunities sparked interest from Gulf investors during day one of the third ALN Annual International Conference held on October 5 in Dubai. Under the theme, “Africa: Bridging the Gulf”, the conference offered 300 members from the global investment community an insight into Africa’s high-performing sectors. Renowned businessman and founder ...