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Abu Dhabi / WAM Noon.com announced that it will build the UAE’s largest fulfilment centre in Abu Dhabi as part of an anchor investment into the emirate’s fast-growing e-commerce space. The 252,000 square metres mega facility is the result of a partnership between the Abu Dhabi Investment Office (Adio) and Noon, and will generate thousands of jobs and fuel the ...

Dubai / WAM   Dubai’s Enoc group and Japanese heavy-industry manufacturer IHI Corporation signed a memorandum of understanding to explore establishing a low-carbon hydrogen and low-carbon ammonia supply chain in the UAE. The move is aligned with the UAE’s overall efforts to diversify its energy sources to transition into a clean energy model for the world to emulate. The produced fuel ...

Ajman / WAM     Ajman Business Women Council (AJBWC) received an economic delegation from the Serbian Businesswomen Council, with the aim of discussing partnerships, enhancing joint cooperation, and exchanging experiences, best practices, and initiatives that support entrepreneurship and promote micro, small, and medium enterprises. Dr. Amna Khalifa Al Ali, Board member of the Ajman Chamber of Commerce and Industry (ACCI) and ...

Dubai / WAM Taaleem Holdings on Thursday announced the price range and start of the subscription period for its initial public offering (IPO) on the Dubai Financial Market (DFM). Alan Williamson, Chief Executive Officer of Taaleem, said, “We have seen strong interest in our IPO since announcing our Intention to Float on October 31. Today, we are pleased to open ...

Dubai / WAM Salik Company announced that it achieved a net profit of AED242 million in the third quarter of 2022, with revenues increasing 9.1 percent year-on-year (YoY) to AED445 million, driven by solid operational performance reflecting positive economic activity and growth in traffic, while Ebitda reached AED 291 million, yielding a strong margin of 65.4 percent. During its meeting ...

Sharjah / WAM Sharjah Real Estate Registration Department (SRERD) issued a report on the results of real estate transactions for the period ending September 30, revealing that cash trading volumes of the emirate’s real estate transactions amounted to AED 16.6 billion. 65,314 total transactions were carried out, distributed among the various cities and regions of Sharjah, including 5,335 sales transactions ...

Abu Dhabi / WAM Zaki Nusseibeh, Cultural Adviser to the UAE President and Chancellor of the United Arab Emirates University (UAEU), highlighted the importance of the World Media Congress 2022, to be held from November 15-17, as a way for demonstrating the UAE’s exceptional capability to stage international exhibitions. The congress is being held under the theme ‘Shaping the Future ...

US President Joe Biden vowed to make no “fundamental concessions” in his first in-person summit with China’s Xi Jinping, reinforcing already low expectations for any major breakthrough in strained ties between the world’s two largest economies. The two presidents are expected to meet next week on the sidelines of the Group of 20 summit in Bali, Indonesia. Xi’s last meeting ...

In the latest reflection of the Kremlin’s expanding war effort, bomb shelters across Russia are being brought back to life after more than three decades of neglect since the end of the Cold War. State workers are quietly checking basements and other protected facilities, repairing and cleaning installations not used since the Soviet era, according to people familiar with the ...

Serbia will probably hike borrowing costs as the fastest inflation in more than a decade overshadows the risks of a sharp downturn in economic growth. The National Bank of Serbia will lift its benchmark interest rate by 50 basis points to 4.5%, according to nine of 16 economists in a Bloomberg survey. Five expect a quarter-point increase and two see ...