Abu Dhabi / WAM Access World Logistics LLC, a joint-venture between the UAE-based Rais Hassan Saadi, RHS, Group and Switzerland-headquartered Access World Group, held a ground-breaking ceremony at the site of their upcoming third-party logistics facility at Jebel Ali Free Zone. During the welcome address, Peter M Waszkis, CEO of Access World, said, “Our vision is to deliver value to …

DUBAI / WAM The month of July proved to be an eventful one for Dubai Gold and Commodities Exchange (DGCX), the largest and the most diversified derivatives bourse in the region, as it inked pacts for greater collaboration with two leading Abu Dhabi-based entities – the Abu Dhabi Securities Exchange (ADX) and Abu Dhabi Global Market (ADGM). The Exchange’s recent …

Dubai / Emirates Business ENBD REIT (CEIC) Limited (“ENBD REIT”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the “Fund Manager”), has announced its Net Asset Value for June 30. ENBD REIT’s second NAV since listing, which has increased by 1.74% in the quarter (cum-dividend), now stands at $292 million (AED 1.074 billion) (ex-dividend …

Dubai / Emirates Business Damac Properties, a leading luxury real estate developer in the region, awarded Arabtec Construction LLC with a AED 628 million contract to develop 1,296 villas at Damac’s Akoya Oxygen master development. Arabtec will begin construction in Q3 2017 at the 55-million-square-foot green development in Dubailand, and is expected to complete the project within 24 months. “Damac …

DUBAI / WAM The Abu Dhabi Food Control Authority, (ADFCA) organised, in co-operation with the Food Security Centre – Abu Dhabi, a workshop entitled, “The Challenges of Producing and Marketing Poultry,” which was held today at its branch in Al Ain, to highlight the importance of transferring knowledge, exchanging expertise and finding the correct solutions to the various challenges facing …

Dubai / WAM Emirates’ newly revamped A380 Onboard Lounge has made its operational debut on a flight to Kuala Lumpur, marking the 9th anniversary of the airline’s award-winning A380 service. The Onboard Lounge was first introduced on August 1, 2008 and has since become a mainstay of Emirates’ double decker aircraft. The latest makeover of the lounge, inspired by private …

Bloomberg SoftBank Group Corp. has as much as $65 billion in financing lined up as Chairman Masayoshi Son weighs whether to make a formal takeover offer for Charter Communications Inc., according to people familiar with the matter. The financing arrangement is among the new details that are emerging on Son’s plan to merge Charter with SoftBank’s struggling US wireless company …

Bloomberg Mukesh Ambani has elbowed past Li Ka-shing to become Asia’s second-richest man as investors rallied behind his efforts to arm India’s poor with cheap data-loaded phones. Some analysts are beginning to focus on the costs of his ambition. The chairman of Reliance Industries Ltd. has added $12.5 billion to his wealth this year, according to the Bloomberg Billionaires Index, …

Bloomberg Uber Technologies Inc. and Didi Chuxing are once again going head-to-head, this time in Estonia. The Chinese giant with a multi billion-dollar war chest is backing Estonia’s Taxify OU with a financial investment and support on technology developments, the companies said on Tuesday. The partnership—Didi’s first major move into Europe—will give Taxify a boost to grow in cities from …

Bloomberg A private gauge indicates that India’s manufacturing output slid to the lowest since the financial crisis as the roll out of a new nationwide sales tax disrupted supply chains across the country. The Nikkei India Manufacturing Purchasing Managers’ Index was at 47.9 in July. A number below 50 indicates contraction. The outlook for the year ahead remains positive with …