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Abu Dhabi / WAM Khalifa Fund for Enterprise Development and Al Dhafra Co-operative (ADCS) signed a memorandum of understanding to encourage entrepreneurship and stimulate the development of SMEs in the UAE’s F&B sector. The partnership between the two respective parties will see Khalifa Fund members receive a number of benefits, such as a full waiver of the ADCS entry ...
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February, 2023
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23 February
Edge, Italy’s Fincantieri sign cooperation deal
Abu Dhabi / WAM Edge entity Abu Dhabi Ship Building (ADSB) and Fincantieri, one of the world’s leading shipbuilding groups, on Wednesday signed an Industrial Cooperation Agreement at the International Defence Exhibition and Conference (Idex 2023). Under the terms of the agreement, Edge and Fincantieri will join forces on the design, construction, and fleet management of military and commercial ...
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23 February
ADFD funds first development project worth $45m in Nigeria
Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) has signed an agreement with the Nigerian government to finance a major road project in the country. The fund has allocated AED165 million ($45 million) to support the Minna-Bida Road project, ADFD’s first development project in Nigeria, which is expected to stimulate commercial activities and improve transport links between the ...
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23 February
UAE a pioneer, partner in decision-making on global human rights
Abu Dhabi / WAM A number of international experts on human rights reiterated that the United Arab Emirates (UAE) is a pioneer in human rights and has become a prominent partner in advancing the human rights worldwide. The experts noted that the UAE is also a partner in decision-making on global human rights, especially with its winning of membership ...
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23 February
Air Arabia Abu Dhabi launches direct flights to Baghdad, Erbil
Abu Dhabi / WAM Air Arabia Abu Dhabi announced the launch of its two new routes from Abu Dhabi to Baghdad and Erbil in Iraq. The new direct flights will connect Abu Dhabi International Airport to both Baghdad International Airport and Erbil International Airport with a frequency of two flights per week starting from June 22. Adel Al Ali, ...
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23 February
Empower, Dubai Maritime City sign deal
Dubai / WAM Emirates Central Cooling Systems Corporation PJSC (Empower) and Dubai Maritime City (DMC) have entered into an agreement to provide district cooling services to the DMC project. The cooling capacity of the project is more than 63,000 Refrigeration Tonnes (RT). The agreement was signed by Ahmad bin Shafar, CEO of Empower, and Sultan bin Sulayem, Group Chairman ...
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23 February
Abu Dhabi hosts five marine championships this weekend
Abu Dhabi / Gulf Time Abu Dhabi hosts five marine championships this weekend in a special carnival for the marine sports enthusiasts. Organised by the Abu Dhabi Marine Sports Club, the championships will be held at the UAE capital’s breakwater starting from February 23-26. First round of Abu Dhabi Grand Kingfishing Championship will start on Thursday and will last ...
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23 February
Airlines turn market favourites as Covid forces business rejig
Bloomberg Unloved during the pandemic with their business paralysed almost overnight, airlines that cut back to survive the crisis are now blowing through profit forecasts and luring back investors. Virgin Australia, so financially frail when Covid-19 hit in 2020 that it folded in weeks, has undergone a remarkable transformation under new owner Bain Capital and plans to relist in ...
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23 February
Starbucks launches olive-oil coffee beverages in Italy
Bloomberg Starbucks Corp, the world’s biggest coffee-shop operator, has launched a range of olive oil-infused beverages in Italy to boost market share in a country where it’s struggled to gain a foothold. The chain will initially sell its new Oleato coffee line, which includes a drink featuring olive oil steamed with oat milk, in Italy only. It then plans to ...
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23 February
Walmart tops estimates but issues cautious outlook for current fiscal
Bloomberg Walmart Inc turned in another blowout quarter as more shoppers sought out its low prices, but the retailer offered a cautious outlook for the current fiscal year because of rising economic uncertainty. Consumers are getting squeezed as interest rates climb and savings rates fall, Walmart Chief Financial Officer John David Rainey said. That threatens spending even as the ...
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