DUBAI / Reuters Mubadala Investment Company has signed a deal with Greece’s New Economy Development Fund, known as Taneo, to create a 400 million euro ($496 million) co-investment platform, the Abu Dhabi state fund said on Wednesday. Under the agreement, Taneo and Mubadala will each contribute 200 million euros to invest in businesses with growth potential across key sectors of ...

Abu Dhabi / WAM The Ministry of Economy is predicting a rise in the share of the non-oil sector in the UAE’s GDP to 80% by 2021, compared to 70 percent in 2017 while stating that the UAE has the most diverse economy in the GCC region. It added that the country’s seven emirates have their own economic priorities, despite ...

Dubai / WAM The Ministry of Economy will organise a promotional seminar during the first International Import Expo which will be held in Shanghai, China, next November, where the UAE will participate through an official and commercial delegation led by the ministry that will include local authorities and major exporters, as well as entrepreneurs who are leaders of small and ...

DUBAI / Reuters Dubai Aerospace Enterprise (DAE), a government-controlled company, is raising a $400 million loan arranged by Ahli Bank of Kuwait, sources familiar with the matter said. DAE has become one of the world’s largest aircraft lessors after acquiring Dublin-based AWAS last year. The acquisition tripled the Dubai aircraft leasing and maintenance company’s portfolio to about 400 aircraft worth ...

DUBAI / Reuters DP World has not received an offer from Djibouti to buy its stake in the Doraleh Container Terminal, a spokesman for the port operator said on Wednesday after a Djiboutian official said the stake could be bought. The DP World spokesman also said the Dubai-owned company would consider it illegal if any company entered into any agreement ...

Dubai / WAM The UAE Government has launched a global emerging technologies start-up competition, ‘GovHack Series’, in eight major cities around the world. The competition is part of the GovTech Prize, a UAE government initiative that has been running for its sixth year. The GovTech Prize works throughout the year to search for the best tech government solutions developed by ...

Abu Dhabi / WAM Mohammed Ahmed bin Abdulaziz Al Shehhi, Under-Secretary for Economic Affairs at the Ministry of Economy, met Jose Luis Kaiser, Director-General of the International Trade Office of Spain, and his accompanying delegation, to discuss means of developing the economic, commercial and investment cooperation between the UAE and Spain. During the meeting, which took place at the ministry’s ...

Dubai / WAM Mohammed Ahmed bin Abdul Aziz Al Shehhi, Under-Secretary for Economic Affairs at the Ministry of Economy, and Timothy Sargent, Deputy Minister for International Trade of Canada, have discussed economic and trade cooperation between the two countries. During a meeting held at the ministry’s headquarters in Dubai in the presence of Emmanuel Kamarianakis, Consul-General of Canada, and a ...

Dubai / WAM The ‘Arab Trade and Export Finance Conference,’ hosted in Dubai by Dubai Exports, in partnership with the Arab Federation for Industrial Exports Development (AFIED), has emphasised the importance of financing Small and Medium Enterprises (SMEs), and facilitating their access to international markets. The conference, attended by 130 delegates representing Arab, regional and international businesses, discussed global trade, ...

Bloomberg US stocks fell, pushed lower by megacap tech shares as they extended losses following a sharp selloff Tuesday afternoon. The dollar rose while Treasuries rallied as data showed American economic growth beat estimates. Volatility spiked as the Nasdaq 100 Index retreated, with Netflix Inc. and Amazon.com Inc. among the biggest losers. The gauge is heading for its fifth straight ...