ABU DHABI / WAM Abu Dhabi Islamic Bank (Adib) has entered into a memorandum of understanding (MoU) with Meydan Free Zone, emphasising its commitment to promoting SMEs and promoting sustainability in the economy. Through this partnership, trade licence holders within the Meydan Free Zone will have access to Adib’s diverse range of business banking products and services. This includes a ...

DUBAI / WAM Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, met with Jasem Mohamed AlBudaiwi, Secretary General of the Cooperation Council for the Arab States of the Gulf, to discuss ways of enhancing and activating GCC financial and economic cooperation. Younis Haji Al Khoori, Undersecretary of Ministry of Finance; and Khalid bin Ali Al Sunaidi, Assistant ...

DUBAI / WAM The Marine Agency for Wooden Dhows at the Ports, Customs and Free Zone Corporation (PCFC) in Dubai facilitated the entry of over 3,500 wooden dhows to Dubai during 2023, which helped increase the trade by wooden ships within the emirate till April 2023. Mahmood Amin Khoory, CEO of the Marine Agency for Wooden Dhows of the Ports, ...

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued an Emiri Decree announcing the appointment of a new Board of Directors for the Sharjah Book Authority (SBA), which is set to embark on a new chapter of growth and development. The formation of the new board is part ...

ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, received on Monday  Jasem Mohamed AlBudaiwi, Secretary General of the Cooperation Council for the Arab States of the Gulf. HH Sheikh Mansour bin Zayed welcomed the GCC chief, and expressed the UAE leadership’s hope for advancing the ...

ABU DHABI / WAM Khalifa Economic Zones Abu Dhabi – Kezad group, a subsidiary of AD Ports group, and Sustainable Water Solutions Holding Company (SWS), have signed a framework agreement under which they will cooperate on the development and operation of a pilot polished water plant, as well as polished water distribution to industries in Kezad Musaffah. The partnership aims ...

SHARJAH / WAM As the world rises to combat climate change and the UAE prepares to host the United Nations Climate Change Conference (COP28) towards the end of this year, the Department of Chemical Engineering at American University of Sharjah (AUS) has hosted a talk by the Sharjah National Oil Corporation (Snoc) on understanding global climate change and net zero ...

BLOOMBERG Nissan Motor Co forecast operating profit for the current fiscal year that exceeded analyst projections, as the Japanese carmaker gets costs under control while expanding output, thanks to improving supplies of semiconductors. Operating profit will be ¥520 billion ($3.9 billion) for the period through March 2024, the Yokohama-based company said. That compares with the average estimate for ¥402.8 billion. ...

NEW DELHI / WAM With an eye of markets in the Gulf, India is to expand the cultivation of dragon fruit by more than 16 times, the Ministry of Agriculture and Farmers Welfare here has announced. To help augment this effort, the ministry has authorised the setting up of a Centre of Excellence for dragon fruit cultivation in Bengaluru in ...

BLOOMBERG A Chinese property developer whose default in 2021 has since fed into a broader industry rout is facing resistance to its restructuring plan from a major shareholder. Fantasia Holdings Group Co’s second-biggest shareholder TCL Industries Holdings Co opposes the terms of the debt-to-equity swaps, a key part of the restructuring proposal that would dilute shareholders’ stakes, according to people ...