News

Bloomberg Online shoppers hate paying delivery fees. So Instacart Inc. is getting Pepsi to foot the bill. The grocery delivery start-up is working with General Mills Inc., Nestlé SA, PepsiCo Inc., Unilever NV, and other consumer goods makers to cover the cost of delivery or provide other discounts when customers buy their products. In addition to the coupons, the companies ...

Dubai / WAM Jebel Ali Free Zone Authority (Jafza) registered 52 new companies in the automotive and aeronautics industry, bringing the total number to more than 435 companies from 60 countries. Trade volume from 2010 to 2014 also rose by almost 80%. Jafza, the flagship free zone entity of Dubai and the trade and logistics hub for the wider Middle ...

Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), received Dalya Al Muthanna, President and CEO of General Electric Gulf, at DEWA’s headquarters. The meeting was a part of DEWA’s efforts to strengthen cooperation with international companies, exchange best international experiences and practices, and keep up to date with the latest advances ...

ABU DHABI / WAM Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, on Saturday underlined the importance of promoting financial literacy awareness in light of the increasing debt among Emirati Youth. With an overwhelming statistic of 70% of Emiratis under the age of 30 being in debt, there is a clear need for a scalable programme that can teach young ...

DUBAI / WAM The Dubai Airport Free Zone Authority (DAFZA) posted yet another banner year in 2015, achieving an impressive total revenue growth of 7% and total assets growth of 3%. As a gateway connecting the emerging markets in Middle East and Africa, the Freezone grew its number of registered companies by 22 %, with multinational companies in particular rising ...

DUBAI / WAM A delegation from Dubai International Financial Centre (DIFC) participated in the UAE-Luxembourg Council for Cooperation and Development of Islamic Banking and Finance. Aiming to strengthen DIFC’s long-standing partnership with Luxembourg, the visit included engagements with industry experts to share insights on the sophistication and future of Islamic finance and the impact of FinTech. FinTech has grown exponentially ...

DUBAI / WAM Dubai developer Nakheel signed a memorandum of understanding (MoU) with Saudi Arabia’s Al-Akaria to develop a range of new mixed-use projects in Riyadh. The two companies signed an agreement which will see Nakheel provide services ranging from master planning, design, construction management, and mall design and management, according to a company statement. Upcoming developments under Al-Akaria include ...

Abu Dhabi / Emirates Business Etisalat on Saturday announced a new promotion, providing its Wasel prepaid customers 1 MB free data for every minute of their mobile voice call. Addressing the growing demand for data among all segments in the UAE, the new offer gives customers 1 MB of free data for every minute of outgoing local or international voice ...

SHARJAH / WAM Sharjah Asset Management, the investment arm of the Government of Sharjah, on Saturday announced their first ever sale of freehold land plots for GCC nationals and UAE’s Arab residents and long-term leasehold (Usufruct) right for 100 years for UAE’s residents of other nationalities being offered for sale at Al Saja’a Industrial Oasis in the Emirate of Sharjah.

ABU DHABI / WAM The Ministry of Human Resources and Emiratisation announced recently a vast diversion towards non-fixed term contracts between both production parties hitting 75.53 percent of the total number of newly issued and renewed contracts for the past two months. This came following a recent study issued by the Ministry to follow-up on the three new decrees issues ...