Abu Dhabi / WAM AD Ports group on Tuesday announced the merger of Kezad Communities with Al Eskan Al Jamae LLC (EAJ) to create Abu Dhabi’s largest integrated staff accommodation company in which AD Ports group will retain a controlling majority stake. The combined entity will have an equity value of approximately AED7 billion, positioning it as one of the ...
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Dubai / WAM Dubai International Financial Centre (DIFC) on Tuesday announced that during the first nine months of 2022, the number of FinTech and innovation firms joining DIFC exceeded the total that established operations during the whole of 2021. Between January and September 2022, DIFC-based FinTech firms secured more than AED2 billion ($559 million) of funding, according to DIFC ...
Read More »Geneva / WAM The global aviation sector is set to return to profitability next year for the first time since the coronavirus pandemic broke out in Europe at the beginning of 2020, the International Air Transport Association (IATA) reported in Geneva. In statement carried by Deutsche Presse-Agentur (dpa), the IATA estimated total profit at some $4.7 billion is expected ...
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Dubai / WAM In line with World Futures Day, the Ministry of Economy and the Government Development and the Future Office launched the “Future 100” initiative, aiming to support 100 startups in new sectors that will shape the future economy of the UAE. The initiative will annually highlight the top 100 startups that will promote the UAE’s readiness for ...
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Abu Dhabi / WAM Abu Dhabi Airports announced the official ground-breaking of Bombardier’s new service centre for business aircraft, which is targeted to open in 2025 at the Abu Dhabi International Airport (AUH), with the capacity to fit up to four Global 7500 aircraft. The development of the new Bombardier MRO at Abu Dhabi International Airport is one of ...
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Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has launched an automated system to complete employment contracts without human intervention. The smart system aligns with the National Artificial Intelligence Strategy 2031, which aims to position the UAE as a global leader in artificial intelligence (AI) by developing an integrated framework to be adopted in vital areas ...
Read More »Abu Dhabi / WAM Emerge, a joint venture between Masdar and EDF, and Al Dahra, one of the largest integrated agri-businesses in the Middle East, announced a strategic partnership to develop a rooftop solar photovoltaic (PV) installation at Al Dahra Food Industry at Khalifa Industrial Zone Facility Abu Dhabi (Kizad). The rooftop solar system will be installed on Al ...
Read More »Abu Dhabi / WAM Pursuant to a resolution issued by the cabinet, the Ministry of Finance (MoF) on Tuesday announced the amendment of the VAT treatment on workmanship services when supplying gold and diamonds between registrants in the state. According to the resolution, there will be a temporary replacement for the definition of “goods†contained in Article (1) of ...
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Dubai / WAM The World of Coffee Dubai 2023 exhibition, which is scheduled to be held from January 11-13, 2023, is preparing to host more than 1,000 international, regional, and local companies and brands from over 30 countries worldwide, surpassing the participation figures from its first edition. The three-day event, organised by DXB Live, the integrated event management and experiential ...
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Bahrain / Gulf Time Investcorp, a leading global alternative investment firm, on Monday announced it has agreed to acquire Marble Point Credit Management LLC (Marble Point), a leading US-based collateralised loan obligation (CLO) manager. “The proposed acquisition of Marble Point is a significant milestone in Investcorp’s 40-year journey of growth through diversification, geographic expansion and building scale. With $50 billion ...
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