January, 2018

• 21 January

  Global IT spend to hit $3.7trn in ’18

  

  DUBAI / Emirates Business Worldwide IT spending is projected to total $3.7 trillion in 2018, an increase of 4.5 percent from 2017, according to the latest forecast by Gartner, Inc. “Global IT spending growth began to turn around in 2017, with continued growth expected over the next few years. However, uncertainty looms as organizations consider the potential impacts of Brexit, ...

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• 21 January

  DIB named ‘fastest growing bank in UAE’

  DUBAI / WAM Dubai Islamic Bank (DIB) has been recognised as the Fastest Growing Bank in the country at this year’s International Finance Magazine Awards. The International Finance Magazine (IFM) Awards recognises and honors individuals and organisations that make a difference and bring significant value to the international finance industry. Dr Adnan Chilwan, Group CEO of Dubai Islamic Bank, said, ...

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• 21 January

  Dubai Investments buys 50% stake in Emicool

  

  DUBAI / WAM Dubai Investments has acquired additional 50% stake in Emirates District Cooling (Emicool) from Union Properties for AED500 million. Following this acquisition, Dubai Investments owns 100% stake in Emicool. Khalid bin Kalban, MD and CEO of Dubai Investments, said, “The transaction strengthens Dubai Investments’ portfolio in the utility service domain, growing its asset base, and is expected to ...

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• 21 January

  Platinum is hedge fund darling

  

  Bloomberg After lagging behind other precious metals in 2017, platinum is finally outperforming, and hedge funds are taking notice. Money managers increased their bets on a rally for platinum, a commodity used in pollution-control devices for cars. Investors had been pessimistic on prices until the start of this year, but that sentiment changed as signs of synchronised global growth boosted ...

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• 21 January

  ADNOC Distribution buoys Abu Dhabi

  REUTERS Gulf stock markets mostly edged down on Sunday with Saudi Arabia pulling further away from a major resistance level, although a surge by fuel distributor ADNOC Distribution buoyed Abu Dhabi. The Saudi index slipped 0.3 percent to 7,518 points, pulling away from the July peak of 7,586 points. Dairy company Almarai dropped 1.9 percent after reporting fourth-quarter net profit ...

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• 21 January

  WFP chief commends UAE’s global humanitarian role

  

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received on Sunday David Beasley, Executive Director of the Rome-based World Food Programme (WFP). The WFP is holding its annual meeting of its Executive Board in Dubai for the first time out of Rome. His Highness Sheikh Mohammed bin ...

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• 21 January

  Mohamed briefed on outcome of Al Azhar conference on Al Quds

  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, on Sunday received a call from the Grand Imam of Al Azhar, Dr. Ahmed Al Tayeb, on the outcome of the conference recently held by Al Azhar in Cairo in collaboration with the Muslim Council ...

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• 21 January

  DEWA awards $17.81mn water distribution project

  

  Dubai / WAM Dubai Electricity and Water Authority (DEWA), awarded a project to supply and commission a smart water distribution project. The project will monitor and control remote data collection of the water distribution network in Dubai. This is part of DEWA’s strategic plan to enhance the operational efficiency of its water network, and meet growing demand for its services, ...

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• 21 January

  RTA spreads Dirham Khair initiative to 7,000 taxis

  Dubai / WAM The Roads and Transport Authority (RTA), revealed that it had spread the Dirham Khair; one of the seven initiatives launched under RTA, to 7,000 taxicabs. It involves an elective donation by taxi riders, and the proceeds will be directed to support humanitarian activities at local, regional and international levels. Having 34,945 clients supporting the Dirham Khair during ...

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• 21 January

  Oracle opens AI centre in Dubai

  Dubai / WAM In yet a new bid to help drive the implementation of artificial intelligence (AI), across the UAE, Oracle on Sunday announced the opening of a first-of-its-kind Innovation Hub in Dubai. As the nation celebrates the centennial of the birth of late Sheikh Zayed bin Sultan Al Nahyan with the ‘Year of Zayed’ initiative, Oracle has named the ...

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