News

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the second phase of the Dubai 2040 Urban Master Plan. Phase II of the plan consists of several projects under ten key initiatives, including Enhancing Urban Centres, Dubai Real Estate Strategy, Urban Farming Plan, ...

  Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, on Monday announced its startup community has raised $1 billion (AED3.7 billion) in venture capital collectively since its launch in 2019. The milestone was achieved in a year which has seen Hub71 onboard 53 high growth technology companies each with a proven track record of attracting large-scale investment from ...

Abu Dhabi / WAM The General Command of Abu Dhabi Police has signed a memorandum of understanding (MoU) with Burjeel Holdings to cooperate in the areas of medicine, scientific research, and training and to offer high-quality medical services to the employees of the Abu Dhabi Police. The MoU was signed on behalf of the General Command of Abu Dhabi Police ...

  Dubai / WAM Dubai International Chamber, one of the three chambers operating under Dubai Chambers, on Monday announced the opening of three new international representative offices based in Cairo, Tel Aviv, and Istanbul, respectively. The Cairo office was officially inaugurated at a special ceremony in the presence of Mariam Khalifa Al Kaabi, UAE Ambassador to Egypt; Omar Khan, Executive ...

  Dubai / WAM Dubai International (DXB) has won the ‘Airport of the Year’ award at the Aviation Business Awards 2022. Paul Griffiths, CEO of Dubai Airports, received the award at a ceremony held in Dubai. DXB was chosen as the winner in the category based on its “unrivalled performance” over the past 12 months. The airport welcomed 28 million ...

  Dubai / WAM DMCC – the world’s flagship free zone and government of Dubai Authority on commodities trade and enterprise – has announced the launch of the DMCC Gaming Centre in support of the increasingly growing global and regional video games industry. Currently standing at $1.8 billion, revenues generated by the gaming industry in the Mena region are expected ...

  Bloomberg When China’s securities regulator vowed to reduce market volatility in January, few predicted that this year would be one of the most turbulent in recent memory. The drama has only increased this quarter, setting the scene for more upheaval in 2023. Chinese stocks are now moving by 5% a day more frequently than anytime since the global market ...

  Bloomberg Hong Kong billionaire Richard Li is weighing investing about $200 million in his insurance company FWD Group Holdings Ltd as part of a funding round, people familiar with the matter said. An investment would help support the insurer’s growth plans ahead of a long-awaited Hong Kong initial public offering, which could take place as soon as 2023, the ...

  Bloomberg Philippine President Ferdinand Marcos Jr said the proposed sovereign wealth fund will help boost economic development and investments in the country. “I wouldn’t have brought it up otherwise,” Marcos said, according to a news release posted by the Office of the Press Secretary. “It’s very clear that we need added investment. This is another way to get that.”

Bloomberg Chinese officials continued to downplay the risks of Covid-19 as restrictions are eased, with a top medical adviser saying the fatality rate from the omicron variant of the virus is in line with influenza. The death rate from omicron is around 0.1%, similar to the common flu, and the infection rarely reaches the lungs, Zhong Nanshan was quoted in ...