ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stressed that the UAE is preparing for the next fifty years of development by relying on the visions of its talented citizens. His Highness Sheikh Mohammed bin Rashid made this statement during the honouring ceremony of ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday, it will boost in-country value (ICV) to the United Arab Emirates to support post-Covid economic growth through its hugely successful ICV programme. As part of this commitment, Adnoc will drive over AED160 billion ($43.6 billion) back into the UAE economy over the next 5 years as ...

ABU DHABI / WAM The UAE has welcomed the United States’ decision to remove Sudan from the State Sponsors of Terrorism (SST) list. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) congratulated Sudan and its people on this step, which is poised to end years of political and the economic isolation endured by the country. MoFAIC ...

ABU DHABI / WAM The Ministry of Finance (MoF) on Tuesday launched the “ESR Portal” to simplify the process of submitting Economic Substance Regulations (ESR)’s reports and notifications. The portal aims to simplify procedures for all companies operating in the country and allows them to submit reports, notifications and supporting documents electronically and in a timely manner. Younis Haji Al ...

ABU DHABI / Emirates Business Shareholders of National Marine Dredging Company PJSC (NMDC), voted at the Company’s General Assembly Meeting to approve the recommended offer from General Holding Corporation PJSC (Senaat), which is part of ADQ, and other minority shareholders of National Petroleum Construction Company PJSC (NPCC) (together, the “NPCC Shareholders”), to combine NPCC with NMDC. NPCC is a world-class ...

Abu Dhabi / WAM The Technology Innovation Institute (TII), the dedicated “applied research” pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), and Virgin Hyperloop (VH), on Tuesday announced their collaboration on research, innovation and localisation of the futuristic transportation method. The agreement was signed by Faisal Al Bannai, Secretary-General of the ATRC, and Sultan Bin Sulayem, Group Chairman and ...

For more than a decade, companies like Apple Inc have entertained the idea of evolving away from China-based supply chains to have their devices made in lower-cost locales like India, Vietnam and Mexico. The challenge of such decentralisation became brutally evident last weekend with an uprising at a factory operated by Taiwan’s Wistron Corp that makes iPhones in India. Workers ...

The incredible first-day action in the stock prices of recent technology IPOs — particularly DoorDash Inc and Airbnb last week — has reignited a debate that goes back to the dot-com era over whether the process is broken. Critics are blaming bankers for vastly mispricing the offerings, resulting in companies’ missing out on money they could have pocketed at a ...

The world needs China more than ever. Thank goodness it’s showing up: Economic data released on Tuesday all looked strong and in line with forecasts. The upbeat projections for a strong global rebound in 2021 depend on Beijing maintaining this momentum. Most of the traffic from other consequential economies is going the wrong way, owing to restrictions aimed at suppressing ...

Last week the attorneys general of 18 states and 126 members of the US House of Representatives — all Republicans — signed on to a lawsuit aimed at disenfranchising millions of voters and overturning the result of a not-all-that-close presidential election. Though the Supreme Court quickly rejected the attempt, it was understandably greeted as another sad landmark in the political ...