News

    Dubai / Emirates Business A delegation from Smart Dubai Office (SDO) led by H.E. Dr. Aisha Bint Butti Bin Bishr, Director General of SDO, is exerting more efforts to form business partnership by showcasing its smart transformation roadmap to the founding strategic partners of the smart city transformation process. The delegation visited Dubai Land Department (DLD) to discuss ...

  Dubai / Emirates Business Mergermarket, the world’s leading news and intelligence service for mergers & acquisitions, has released its Global M&A Heat Chart that indicates potential future M&A activity based on companies that may be targeted for mergers or acquisitions. The Heat Chart suggests that the Middle East’s Telecoms, Media & Technology (TMT) sector could see the strongest levels ...

  Reuters Saudi Arabia’s largest lender by assets, National Commercial Bank (NCB), plans to expand overseas, growing its Turkey franchise while exploring new markets including Malaysia, Indonesia and Egypt, its chairman said. The move could break the mould of the kingdom’s banking sector, which hosts a range of large and well-capitalised financial institutions but which have traditionally focused on serving ...

  DUBAI / WAM Emirates Integrated Telecommunications Company, du, has entered into a ten-year co-location agreement with Emirates NBD to provide the organisation with third party data centre co-location services in the UAE. Emirates NBD will benefit from du’s ‘always-on’ and resilient data centre infrastructure which is supported by high-speed connectivity. Besides optimising operational expenses, Emirates NBD also gains direct ...

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, is leading the UAE trade and economic delegation to the Belt and Road Summit, which will be held in Hong Kong from May 18-19. The delegation includes Juma Al Kait, Assistant Under-Secretary for Foreign Trade at the Ministry of Economy; Saed Al Awadi, CEO of Dubai Export ...

  KHOBAR / Reuters State oil giant Saudi Aramco has awarded a $1 billion-plus contract to India’s Larsen & Toubro (L&T) and Singapore-based Emas AMC for the expansion of the offshore Hasbah sour gas field, industry sources said. Increasing its supply of gas is a top priority for Saudi Arabia. Many industrial firms have complained about a shortage crimping expansion ...

  DUBAI / WAM The UAE exhibited the most positive employment growth among its neighbouring countries in April 2016, with hiring activity growing at 18 percent compared to the same period a year ago. Sanjay Modi, Managing Director, Monster.com (India, Middle- East, South East Asia and Hong Kong), said, looking at the UAE market specifically, certain sectors are still hiring ...

  Abu Dhabi / WAM ADNOC Distribution and Abu Dhabi Ports have signed a Musataha Agreement (the legal right to build on and retain the building on another person’s land for a fixed term of years), which is aimed to strengthen ADNOC Distribution’s capacity to develop new projects at Khalifa Industrial Zone, Kizad, and provide logistical support to its existing developments. ...

  Dubai / WAM Dubai Electricity and Water Authority (DEWA) published its Training Courses Guide 2016 for all its employees. The guide features information on training courses and programmes, and includes over 1,095 training programmes. DEWA aims to train 10,000 employees during 2016, with a total budget of AED 31 million. This supports DEWA’s efforts to train its workforce to achieve ...

  Dubai / WAM Dubai’s foreign trade in perfumes and cosmetics’ during 2015 hit AED 20.5 billion, according to an official of the Dubai Customs. France was Dubai’s top trading partner in perfumes and cosmetics’ foreign trade, valued at AED3 billion, followed by the USA with AED1.8 billion, Saudi Arabia with AED1.6 billion and the UK and Italy with AED1.1 billion ...