April, 2018

• 18 April

  Aldar signs deal to bring Hyperloop to Abu Dhabi

  

  ABU DHABI / AGENCIES Aldar Properties has signed a Memorandum of Understanding (MoU) with Hyperloop Transportation Technologies (HyperloopTT), the innovative transportation and technology company, that will allow for the creation of a new HyperloopTT centre including a full scale commercial Hyperloop system, an Hyperloop R&D Advanced Mobility Centre, a Demonstration and Visitor Centre, and an Innovation Hub. The construction site ...

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• 18 April

  Emirates Islamic Q1 profit reaches AED209 million

  DUBAI / WAM Emirates Islamic Bank has announced a net profit of AED209 million during its Q1 2018 supported by growth in core income, efficient cost management, and an improved cost of risk. The bank’s balance sheet remains strong with improvements in credit quality and liquidity. The net profit was up 2 percent quarter on quarter (q-o-q), and declined by ...

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• 18 April

  EDCC discusses cooperation with Korean counterpart

  Kuala Lumpur / WAM The Emirates Defence Companies Council (EDCC) discussed prospects of joint cooperation and exchange of knowledge with the Korea Defence Industry Association (KDIA) on the sidelines of its participation in the Defence Services Asia (DSA) Exhibition 2018, in the Malaysian capital, Kuala Lumpur. A KDIA delegation, headed by Yung Ho Kim, Vice Chairman of the KDIA, visited ...

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• 18 April

  OPEC-Russia talks set to keep oil cuts in place even as glut ends

  

  Bloomberg OPEC and Russia will meet in Saudi Arabia this week after all but banishing a global oil glut. While looming political crises threaten to tighten supplies further, the group seems determined to keep its cuts in place. Almost 16 months of output curbs by the Organization of Petroleum Exporting Countries and its partners have seen crude rally to a ...

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• 18 April

  Taqa raises $1.75bn in bond issue

  

  ABU DHABI / WAM Abu Dhabi National Energy Company, also known as Taqa, raised $1.75 billion in a two-tranche dollar denominated bond issue that was 4.7 times oversubscribed. The two tranches consisted of bonds with maturities of seven years with a coupon of 4.375 percent, and bonds with maturities of 12 years with a coupon of 4.875 percent. The issue ...

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• 18 April

  Dubai Chamber team explores business opportunities in China

  

  Dubai / Emirates Business The Dubai Chamber of Commerce and Industry organised a trade mission to Chengdu where delegates explored prospects for boosting economic cooperation between Dubai and China’s Sichuan Province. The Chamber-led delegation, represented by top UAE government officials and business leaders, participated in the Chengdu-Dubai Business Forum 2018 during their visit which coincided with the Chengdu Dubai International ...

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• 18 April

  ADSB delivers two ships to Kuwaiti navy

  Abu Dhabi / Emirates Business Abu Dhabi Ship Building Company (ADSB), a leading provider of construction, repair and refit services for naval, military and commercial vessels, has launched two 64-meter landing ships for the Kuwait Naval Force as part of a contract to build eight naval ships to support Kuwait’s military capabilities. The ships were launched during a ceremony held ...

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• 18 April

  ADGM, Plug and Play to accelerate MENA startups

  

  ABU DHABI / WAM ­­(ADGM), and Plug and Play, the world’s global innovation platform, have announced the establishment of ‘Plug and Play ADGM’ office and announced the go-live date for its signature FinTech innovation programme for Abu Dhabi and the wider Middle East and North Africa (MENA), region. The Plug and Play ADGM programme will be available in Q3 2018 ...

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• 18 April

  DLD uses AI to verify ‘Ejari’ contracts

  Dubai / Emirates Business Dubai Land Department (DLD) announced that from this month, it will be using Artificial Intelligence (AI) to verify ‘Ejari’ contracts. The new technology is part of DLD’s latest governance system for verifying lease contracts, and the AI will be used to correctly match contract signatures with those in the department’s database. The new system is aligned ...

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• 18 April

  UAE inks deal to recruit domestic workers from B’desh

  DUBAI / WAM The UAE and Bangladesh on Wednesday signed a Memorandum of Understanding (MoU), for the recruitment of domestic workers, in the presence of Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation. The MoU was signed by Saif Ahmed Al Suwaidi, Under-Secretary of the Ministry of Human Resources and Emiratisation, and Dr. Namita Halder, Secretary of ...

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