Kuala Lumpur / WAM The Emirates Defence Companies Council (EDCC) discussed prospects of joint cooperation and exchange of knowledge with the Korea Defence Industry Association (KDIA) on the sidelines of its participation in the Defence Services Asia (DSA) Exhibition 2018, in the Malaysian capital, Kuala Lumpur. A KDIA delegation, headed by Yung Ho Kim, Vice Chairman of the KDIA, visited ...

Bloomberg OPEC and Russia will meet in Saudi Arabia this week after all but banishing a global oil glut. While looming political crises threaten to tighten supplies further, the group seems determined to keep its cuts in place. Almost 16 months of output curbs by the Organization of Petroleum Exporting Countries and its partners have seen crude rally to a ...

ABU DHABI / WAM Abu Dhabi National Energy Company, also known as Taqa, raised $1.75 billion in a two-tranche dollar denominated bond issue that was 4.7 times oversubscribed. The two tranches consisted of bonds with maturities of seven years with a coupon of 4.375 percent, and bonds with maturities of 12 years with a coupon of 4.875 percent. The issue ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry organised a trade mission to Chengdu where delegates explored prospects for boosting economic cooperation between Dubai and China’s Sichuan Province. The Chamber-led delegation, represented by top UAE government officials and business leaders, participated in the Chengdu-Dubai Business Forum 2018 during their visit which coincided with the Chengdu Dubai International ...

Abu Dhabi / Emirates Business Abu Dhabi Ship Building Company (ADSB), a leading provider of construction, repair and refit services for naval, military and commercial vessels, has launched two 64-meter landing ships for the Kuwait Naval Force as part of a contract to build eight naval ships to support Kuwait’s military capabilities. The ships were launched during a ceremony held ...

ABU DHABI / WAM ­­(ADGM), and Plug and Play, the world’s global innovation platform, have announced the establishment of ‘Plug and Play ADGM’ office and announced the go-live date for its signature FinTech innovation programme for Abu Dhabi and the wider Middle East and North Africa (MENA), region. The Plug and Play ADGM programme will be available in Q3 2018 ...

Dubai / Emirates Business Dubai Land Department (DLD) announced that from this month, it will be using Artificial Intelligence (AI) to verify ‘Ejari’ contracts. The new technology is part of DLD’s latest governance system for verifying lease contracts, and the AI will be used to correctly match contract signatures with those in the department’s database. The new system is aligned ...

DUBAI / WAM The UAE and Bangladesh on Wednesday signed a Memorandum of Understanding (MoU), for the recruitment of domestic workers, in the presence of Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation. The MoU was signed by Saif Ahmed Al Suwaidi, Under-Secretary of the Ministry of Human Resources and Emiratisation, and Dr. Namita Halder, Secretary of ...

Dubai / WAM The 7th of Dubai International Helicopter Technology and Operations Exhibition, Dubai HeliShow, is set to take place from November 6-8, at the Royal Pavilion, Al Maktoum International Airport, Dubai South. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, the 2018 edition ...

Bucharest / WAM The Federation of the UAE Chambers of Commerce and Industry (FCCI), and the Chamber of Commerce and Industry of Romania (CCIR), signed a MoU to increase investments and business opportunities between the two countries. Humaid Mohammed bin Salim, FCCI Secretary-General, and Mihai Daraban, CCIR President, signed the agreement as part of the UAE Business Forum, organised in ...