November, 2019

• 20 November

  UAE leaders attend funeral for Sultan bin Zayed

  

  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, Their Highnesses the Supreme Council Members and Rulers of the Emirates, Crown Princes, Sheikhs, and large crowd performed funeral prayers on the body of the late HH Sheikh Sultan bin Zayed Al Nahyan, at ...

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• 20 November

  Dubai to showcase business opportunities at IBTM World

  

  DUBAI / WAM Dubai is showcasing its diverse business events offerings and meetings capabilities to industry professionals at the IBTM World in Barcelona, where Dubai Business Events (DBE), the city’s official convention bureau, is leading Dubai’s strong presence at the trade show, being held from November 19-21. Taking place at the Fira Barcelona Gran Via, IBTM World is welcoming over ...

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• 20 November

  New DIFC Intellectual Property Law enacted

  

  DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, enacted a new DIFC Intellectual Property Law, Law No. 4 of 2019, Dubai International Financial Centre (DIFC), the world’s eighth ranked international financial centre and the number one financial hub in the Middle East, ...

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• 20 November

  ADFD allocates AED33m for ‘housing project’ in Seychelles

  

  ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, attended the official opening ceremony of the Social Housing Project in the Seychelles. ADFD allocated $9 million (AED33 million) towards the strategic venture that spans three residential areas on Mahé – the largest and most populated island in the archipelago. Aimed at ...

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• 20 November

  Dewa CEO receives delegation from Siemens

  Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dewa, received a high-level delegation from Siemens AG, led by Cedrik Neike, Member of the Managing Board. The visit underpins Dewa’s collaboration with its strategic partners. Nasser Lootah, Executive Vice President of Generation at DEWA attended the meeting. Al Tayer welcomed the delegation and highlighted that the meeting enhances ...

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• 20 November

  Dubai SME, FAB to facilitate receivable financing for SMEs

  

  Dubai / WAM The Mohammed bin Rashid Fund (MBRF), of Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME), sector, and First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, have formed a partnership to launch a new receivable financing programme for Emirati- owned ...

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• 20 November

  Alibaba raises $11b in biggest Hong Kong listing since 2010

  

  Bloomberg Alibaba Group Holding Ltd has raised about HK$88 billion ($11.2 billion) in its Hong Kong share sale, marking the biggest equity offering in the financial hub since 2010. The company confirmed that it has priced 500 million new shares at HK$176 each in a statement. The price represents a 2.9% discount to the last close of Alibaba’s American depository ...

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• 20 November

  Indian billionaire offers to repay $208mn debt early

  

  Bloomberg Piramal Enterprises Ltd, a company controlled by Indian billionaire Ajay Piramal, has offered to repay a 15 billion rupee ($208 million) debt to Standard Chartered Plc early after getting a waiver on a covenant, according to people with knowledge of the matter. The flagship company of the group — which runs non-bank financiers and a drug maker — hasn’t ...

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• 20 November

  Japan exports slump 9.2% in October

  Bloomberg Japan’s exports suffered their largest drop in three years in October, as the US-China trade war continued to hit global demand and extreme weather disrupted output at home. Exports fell 9.2% from a year ago, dropping for an 11th month and extending the longest streak of monthly declines since 2016, Ministry of Finance data showed. Economists had forecast a ...

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• 20 November

  India plans incentives for foreign companies

  

  Bloomberg India is planning to offer 324 companies including Tesla Inc and GlaxoSmithKline Plc incentives to set up factories in the South Asian nation in a bid to capitalise from the trade war between China and the US, according to a document seen by Bloomberg. The government proposes to provide the manufacturers land to set up a factory along with ...

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