Abu Dhabi / WAM HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, attended on Wednesday the closing of the ‘Zayed 2’ joint military exercise in the UAE’s territories, between the UAE Armed Forces and the Egyptian Armed Forces. The event was also attended by Lt. General Hamad Mohammed Thani Al Rumaithi, Chief of ...
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Abu Dhabi / WAM Abu Dhabi’s advanced composite aerostructures manufacturing facility Strata Manufacturing, on Wednesday unveiled plans for its second facility at Nibras Al Ain Aerospace Park. The Strata 2.0 facility will more than double Strata’s existing capacity and sets the company on a firm path towards Abu Dhabi’s long-term goal of achieving economic diversification and driving global competitiveness for ...
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ABU DHABI / WAM The UAE bank credit to the industrial sector grew by 190 percent to AED70 billion over the past decade, accounting for 4.8 percent of the total loans channelled to business sectors in the UAE by the end of 2016, according to the UAE’s Central Bank recent data. Bank industrial credit for foreigners in the country ...
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Abu Dhabi / Emirates Business The second edition of the Mother of the Nation Festival has captured the imaginations of more than 40,000 visitors through a breath-taking range of entertainment offerings, exhilarating activities and interactive installations over the course of three days following its grand opening on 26th March. Organised by Abu Dhabi Tourism & Culture Authority (TCA Abu ...
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Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (ADNEC) announced the launch of an international promotional campaign for its defence exhibitions, which include the upcoming Unmanned Systems Exhibition and Conference (UMEX 2018) and the Simulation and Training Exhibition and Conference (SimTEX 2018), to be held in February, 2018, as well as the International Defence Exhibition & Conference ...
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Bloomberg The newest oil refineries in Texas are looking to join the hottest two plays in the North American oil industry. Raven Petroleum LLC and MMEX Resources Inc. are building refineries in the Eagle Ford and Permian Basin that will process ample local supplies of light crude into gasoline and diesel. The fuel will be shipped on existing rail ...
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Bloomberg Praxair Inc.’s plan to buy German industrial-gas maker Linde AG edged closer to collapse for a second time after Linde’s works council signaled strong opposition to the $34 billion deal and a government minister questioned its value. A deal with Praxair will lead to significant job losses, and the combined company will be run from headquarters in the ...
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Bloomberg Toshiba Corp. projected its annual loss could more than double to a record 1.01 trillion yen ($9.1 billion) as its US nuclear unit Westinghouse Electric filed for Chapter 11 bankruptcy. The collapse of Westinghouse, once the linchpin of Toshiba’s plans to diversify away from consumer electronics, caps a disastrous run for the Japanese conglomerate as project delays crippled ...
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Bloomberg UK industry groups renewed calls for a trade-friendly Brexit settlement as Prime Minister Theresa May opened two years of negotiations on leaving the European Union after alarming some business leaders by signaling a clean break. The Confederation of British Industry urged the government to guarantee the rights of EU workers already in the UK while negotiating the ...
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Reuters Don’t return Sweden to the high taxes of the 1970s and 1980s. That warning comes from Sweden’s state-funded economic think tank as the Social Democratic-led government has been raising taxes on workers, while planning to cut levies on pensioners and those collecting benefits. “There are big negative effects, at least in the longer term, of higher state income ...
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