March, 2018

• 14 March

  UAE leads region’s IPO market with $2.2bn in Q4

  

  Dubai / Emirates Business In the fourth quarter of 2017, MENA IPO activity witnessed eight deals, representing a 60% surge in volume over the same period in 2016. The MENA IPO value, or capital raised, amounted to $2.5 billion in Q4 2017, over ten times the capital raised last year and the highest since 2014. The UAE led the MENA ...

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• 14 March

  Microsoft set to open data centres in Abu Dhabi, Dubai

  Dubai / Emirates Business Microsoft revealed plans to deliver the intelligent, trusted Microsoft cloud from its first data centres located in the Middle East, empowering organisations, governments, and businesses to achieve more and recognising the unprecedented opportunity for digital transformation in the region. The Microsoft Cloud, comprising Azure, Office 365 and Dynamics 365, will offer enterprise-grade reliability and performance, combined ...

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• 14 March

  Empower’s total electricity savings valued at AED2.8bn

  DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) achieved a total electricity savings of 1072 MW in 2017, valued at AED2.8 billion. District Cooling saves approximately 50% of power used for cooling, compared to conventional cooling systems, according to a study conducted by the United Nations Energy Efficiency Initiatives. This makes district cooling one of the top energy-efficient and ...

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• 14 March

  Azizi awards contracts worth AED1.5bn for new Dubai project

  

  Dubai / Emirates Business Azizi Developments, one of the leading private developers in the UAE, has awarded two contracts worth AED1.5 billion for the construction of Phase 1 of Azizi Victoria, which will commence immediately. Two contractors have been appointed to build 32 buildings with 4,000 units. Green Modelling Contracting has been appointed to construct 16 buildings and Modern Civil ...

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• 14 March

  Emirati children are real wealth of country’s promising future

  

  Abu Dhabi / WAM Reem Abdullah Al Falasi, Secretary-General of the Supreme Council for Motherhood and Childhood (SCMC), said that the majority of the programmes and plans of the Council for children are aimed at creating a suitable environment to raise them on the correct values and principles, preparing them for the future. In a statement marking the UAE’s celebration ...

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• 14 March

  UAE clears 20,000 landmines in eight months across Yemen

  

  Mocha / WAM The Iranian-backed Houthi militias’ use of banned anti-personnel landmines in Yemen has triggered thousands of civilian casualties, wanton violence and bloodshed, a three-month field investigation by the Emirates News Agency, (WAM), revealed. The Houthi forces have used landmines since the pro-legitimacy Saudi-led Arab coalition started its military operations to liberate the country from the coup perpetrators, killing, ...

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• 14 March

  ‘Political solution only way to stop bloodshed in Syria’

  

  Geneva / WAM The UAE has reiterated its firm belief that a political solution is the only way to stop the bloodshed, restore security and stability, and end the conflict in Syria, during the Human Rights Council session in Geneva. The statement was delivered by Fatma Ahmed Al Muhairi, Third Secretary at the UAE Diplomatic Mission in Geneva, as part ...

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• 14 March

  Sharia-compliant Noor Bank gets FCI membership

  

  Dubai / Emirates Business Noor Bank, a leading Shari’a compliant bank in the UAE, is the first Islamic bank to have successfully obtained associate membership of FCI, a global representative of the factoring and receivables finance industry. This significant membership will enable Noor Bank to leverage the FCI network in more than 90 countries to offer export and import factoring ...

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• 14 March

  ‘Team Zayed’ sends a message of light, hope to world from Antarctica

  

  Abu Dhabi / WAM Team Zayed, made up of employees representing the Environment Agency – Abu Dhabi (EAD) and Dr. Jane Goodall’s Roots & Shoots programme, put on the Zayed Solar Lights Show and lit up the Antarctic night using 100 solar lights, sending a message of unity, hope and action on Climate Change. The team, aptly named Team Zayed, ...

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• 14 March

  US stocks turn lower, dollar steady on weak retail report

  

  Bloomberg US stocks sank as weak retail sales fanned concern that consumer spending is cooling, while the dollar held steady on bets the Federal Reserve won’t be forced to quicken the pace of rate hikes. Ten-year Treasury yields tightened. The drop in retail spending provided a second data point, after Tuesday’s tepid inflation figures, to suggest unsteady growth in the ...

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