Dubai / Reuters Abu Dhabi’s government-owned power utility has closed a 3.2 billion dirham ($872 million) financing package for what will be the world’s largest solar power plant, the utility’s top official said. Abu Dhabi Water & Electricity Authority (ADWEA) raised $650 million in debt with the remaining $222 million raised in equity, Director General Saif Saleh al-Sayari said. A ...

ABU DHABI / WAM Computer and telecommunication capital inflows to the country grew by 2.5 percent to AED13.1 billion during 2016, as per UAE Central Bank statistics. According to the UAE Balance of Payment service data, the computer and telecommunications sectors’ combined credit side hit AED20.9 billion, accounting for 1.5 percent of the 2016 GDP, while their debit reached AED7.8 ...

BERLIN / Reuters Emaar Malls will buy a 51 percent stake in e-commerce fashion website Namshi from Global Fashion Group, a firm backed by Rocket Internet , for $151 million, a sign of growing demand for tech deals in the Middle East. The acquisition comes two months after Amazon agreed to buy Souq.com, showing how the Gulf region is embracing ...

Astana / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Kairat Abdrakhmanov, Minister of Foreign Affairs of the Republic of Kazakhstan, signed a protocol on Tuesday amending the agreement of mutual exemption of pre-visa requirement for holders of diplomatic and special passports to also include holders of ordinary passports. The UAE ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday called British Prime Minister Theresa May to express his deepest condolences and sympathies for the victims of the terrorist attack that targeted the city of Manchester, killing and injuring innocent people. During ...

Dubai / WAM In alignment with Dubai Plan 2021, cultivating innovation and creativity, the Dubai Financial Services Authority (DFSA), announced on Wednesday that it will allow financial technology, FinTech, firms to apply for a class of financial services licence referred to as an Innovation Testing Licence (ITL). This initiative signals the next phase of the DFSA’s regulatory roadmap to foster ...

Abu Dhabi / Emirates Business Ramadan at Anantara Hotels, Resorts & Spas Abu Dhabi captures the true essence of Arabian tradition with a warm ambiance offering the ultimate destination for an unforgettable Ramadan experience. From lavish iftars to mouthwatering suhours and traditional Oud music, fully embrace Ramadan traditions this season by sharing unique experiences with family and friends at Anantara ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, held talks with visiting President of Serbia, Tomislav Nikolic, on a range of regional and global issues of mutual interest. His Highness Sheikh Mohamed bin Zayed met Nikolic at Al Shati Palace to discuss ...

Abu Dhabi / WAM As part of its ever-increasing drive to attract more foreign business into the UAE, the Sharjah FDI Office, Invest in Sharjah, the promotional arm of the Sharjah Investment and Development Authority, Shurooq, has reinforced the emirate’s investment advantages at major global events in China. Participating at the 2017 World Forum for Foreign Direct Investment from May ...

Dubai / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, issued a resolution detailing the reshuffling of the Abu Dhabi Sports Council Board of Directors, under the chairmanship of HH Sheikh Nahyan bin Zayed Al Nahyan, Chairman of ...