ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced, on Monday, major development plans for Ruwais City, a 6.9-square kilometer community near the Ruwais Industrial Complex, in Abu Dhabi’s Al Dhafra region. The project will see the city’s population nearly double, over the next 15 years, to more than 50,000 people, as well as the creation of ...

Paris / WAM Yahsat, a leading global satellite operator based in the UAE and wholly owned by Mubadala Investment Company, and Hughes Network Systems (Hughes), a subsidiary of EchoStar Corporation, on Monday announced an agreement to enter into a joint venture to provide commercial Ka-band satellite broadband services across Africa, the Middle East and southwest Asia. This new venture combines ...

DUBAI / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, stressed the importance of providing opportunities for Emirati youth and encouraging them to develop new skillsets associated with Artificial Intelligence (AI) technologies. Al Olama’s statement came on the back of signing a strategic partnership agreement with Mohammed Amin, Senior Vice President, Middle East, Turkey and Africa ...

Bloomberg The Indian rupee and bonds sunk after the current-account deficit widened to the most in five years, as an emerging-market rout raises investor scrutiny of countries with worsening balance of payments. The rupee slid as much as 1.3 percent on Monday to a new low of 72.6738, leading losses among Asia’s emerging-market currencies. Sustained weakening has prompted authorities to ...

Dubai / Emirates Business Indian economy, which registered 8.2 percent growth in the first quarter of 2018-19 fiscal year – the highest in recent history – is expected to attract large-scale investment from the GCC to India, following the recent announcement of the development of a $44 billion oil refinery to be built by Abu Dhabi National Oil Company (Adnoc), ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), on Monday launched its framework to regulate operators of Private Financing Platforms (PFPs), serving equity investment, debt financing and trade receivables funding needs of start-ups, private enterprises and SMEs. This follows the successful completion of a public consultation by Financial Services Regulatory Authority (FSRA), on August 16, to introduce a tailored, ...

SHARJAH / WAM The Department of Sharjah eGovernment announced that 36 government departments in the emirate are set to participate in the “GITEX Technology Week 2018,” scheduled from October 14-18 at the Dubai World Trade Centre (DWTC). All the departments in the Sharjah government are geared up to showcase their latest services at the pavilion of the government. Innovative technological ...

Abu Dhabi / Emirates Business­­­­­ Abu Dhabi Waste Management Center (Tadweer) on Monday announced that it had collected 1,147,844 tons of waste, amounting to 6,376.90 tons of waste per day on average, from all regions across the emirate of Abu Dhabi in the first half of 2018. This included municipal solid waste, green waste and bulky waste from residential areas, ...

DUBAI / Emirates Business The Dubai Chamber of Commerce and Industry hosted a workshop which provided the business community with more clarity on existing real estate laws in the UAE and recent regulatory developments impacting the sector. The workshop, led by Dubai-based law firm Galadari Advocates & Legal Consultants, was held at Dubai Chamber’s premises and attended by Dubai Chamber ...

DUBAI / Emirates Business In response to increased demand for travel during the autumn school holidays, Emirates on Monday announced it will operate its A380 between Dubai and St. Petersburg, temporarily replacing the Boeing 777 aircraft currently operating on the route. During the period of October 25-29, in advance of the school holidays in Russia, flights EK 175/176 between Dubai ...