June, 2018

• 13 June

  Mohamed orders AED4.27bn in housing loans for Emiratis

  

  ABU DHABI / WAM In line with the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive Council, has instructed provision of housing loans worth AED4.27 billion in total, to 2,500 beneficiaries ...

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• 13 June

  Mubadala to launch European tech fund

  

  LONDON / WAM Mubadala Investment Company (Mubadala) of Abu Dhabi, on Wednesday announced its intent to create a $400 million fund to invest in leading European technology companies. The fund will be managed by Mubadala Ventures, the venture capital arm of Mubadala. SoftBank Group will participate as a strategic investor via its SIMI US Holdings I, Inc investment subsidiary. The ...

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• 13 June

  Emirates SkyCargo, Alibaba arm ink e-commerce pact

  DUBAI / WAM Emirates SkyCargo signed an MoU with Cainiao Smart Logistics Network Ltd (Cainiao), the logistics arm of the Alibaba Group, to jointly facilitate the delivery of cross-border parcels as Cainiao looks to expand its global logistics infrastructure with Dubai as a hub. Emirates SkyCargo and Cainiao will work closely to manage e-commerce shipments in Mideast and neighbouring regions ...

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• 13 June

  Dubai Chamber promotes emirate at Ukraine summit

  Dubai / Emirates Business The Dubai Chamber of Commerce and Industry participated in the 4th National Export Forum in Kiev where the organisation showcased Dubai’s economic prospects and competitive advantages as a strategic trade hub. Representatives from the chamber’s Azerbaijan office delivered a presentation highlighting Dub-ai’s global appeal and strengths including its ideal geographic location between East and West, world-class ...

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• 13 June

  Abu Dhabi to cut tourism fees

  ABU DHABI / WAM The Abu Dhabi Executive Committee has approved a proposal to reduce tourism fees from 6 percent to 3.5 percent and municipality fees from 4 percent to 2 percent. This came during a meeting of the Committee, which was presided over by Jassim Mohammed Buatabh Al Zaabi, Chairman of the Committee. The Committee also sanctioned a proposal ...

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• 13 June

  Russia seeks rollback of most of OPEC cuts

  

  Bloomberg Russia plans to propose that OPEC and its allies be allowed to return production to October 2016 levels, rolling back most but not all of their output cuts within three months, according to a person familiar with Moscow’s thinking. All the nations would proportionally share out a 1.8 million barrel-a-day increase to their output limit starting as soon as ...

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• 13 June

  Dewa, Singapore Consul-General discuss cooperation

  DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of the Dubai Electricity and Water Authority (Dewa), welcomed Low Pit Chen, Consul-General of Singapore in Dubai and the Northern Emirates. This is one of a series of visits by diplomatic and consular officials to Dewa to explore relations, exchange expertise and promote cooperation in power and water. Al Tayer ...

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• 13 June

  King Salman receives Abdullah in Makkah

  

  MAKKAH / WAM The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received in Makkah His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. Sheikh Abdullah bin Zayed conveyed to King Salman the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid ...

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• 13 June

  Tourism, municipality fees reduction in Abu Dhabi to boost its competitiveness

  ABU DHABI / WAM Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, has said that the Executive Council’s decision to adopt the proposal, put forward by DCT Abu Dhabi to reduce tourism and municipality fees will enhance the emirate’s international tourism competitiveness by strengthening its value proposition and by encouraging ...

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• 13 June

  Dafza targets growing trade opportunities with S Korea

  

  DUBAI / Emirates Business Dubai Airport Freezone Authority (Dafza), one of the UAE’s leading free zones, announced a new strategic partnership with Daegu Gyeongbuk Free Economic Zone Authority (DGFEZA) in South Korea. The Memorandum of Understanding (MoU) will aim to increase collaboration between the two parties and expand bilateral trade between the free zones. The MoU was signed in the ...

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