August, 2017

• 6 August

  DEWA calls for entries to Dubai solar show

  

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has invited companies involved in solar photovoltaic (PV) technology to participate in the second Dubai Solar Show; the region’s largest solar energy exhibition, organised by DEWA, in conjunction with the 19th Water, Energy, Technology, and Environment Exhibition (WETEX) 2017. Both events are organised under the directives of Vice President and Prime ...

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• 6 August

  Gulf Capital signs strategic partnership with EWS-WWF

  

  ABU DHABI / WAM Gulf Capital, an Abu-Dhabi based alternative asset management company, announced a long-term ‘platinum’ corporate membership with Emirates Wildlife Society in association with WWF (EWS-WWF), the local environmental NGO which is committed to protecting the UAE’s natural heritage. As a platinum member, Gulf Capital will support EWS-WWF’s initiatives in the UAE, including marine and terrestrial conservation, environmental ...

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• 6 August

  Shams, Shurooq explore opportunities for growth

  

  Sharjah / Emirates Business In the presence of Sheikh Sultan bin Ahmed Al Qasimi, Chairman of the Sharjah Media Council; HE Dr Khalid Omar Al Midfa, Chairman of the Sharjah Media City (Shams) met HE Marwan Bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq), at the interim premises of Shams. The meeting was an occasion to ...

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• 6 August

  Next phase of FAB brand roll-out in H2

  ABU DHABI / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has confirmed that the next phase of its brand roll-out will be launched during the second half of the year. During the coming months, the bank will start to install new FAB signage across First Gulf Bank and National ...

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• 6 August

  More residents turn to Abu Dhabi’s affordable housing market

  

  ABU DHABI / Emirates Business Employment uncertainty and the rising cost of living continues to build deflationary pressures in the residential leasing market. As a result, residents are becoming increasingly cautious with their spending and gravitating towards affordable housing options, according to the latest Abu Dhabi MarketView by global real estate consultancy firm CBRE. As of Q2 2017, average rentals ...

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• 6 August

  Egypt non-oil business activity contracts, new orders stabilize

  

  Cairo / Emirates Business The downturn in the overall health of the non-oil private sector eased in July, with the latest deterioration in business conditions the weakest in a year. New orders stabilised during July, thereby ending a 21-month sequence of decline. Output declined at the slowest pace in 12 months, thereby leading to only a marginal fall in input ...

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• 6 August

  Kuwait fund to sell Areva shares, stay away froam nuclear investments

  

  PARIS / Reuters Kuwait Investment Authority (KIA) will sell its nearly five percent stake in Areva to the French state as the nuclear group is delisted and will stay away from nuclear investments for now, sources familiar with the situation told Reuters. Kuwait’s sovereign wealth fund, one of the world’s biggest, paid 600 million euros ($712 million) for its 4.82 ...

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• 6 August

  Siemens wins tender for $1bn Turkish wind power project

  

  ANKARA / Reuters Turkey picked Germany’s Siemens as the winning bidder for a $1 billion wind power project, a sign Ankara wants to keep business separate from the widening diplomatic row between the NATO allies. Relations have deteriorated amid the crackdown that followed the failed coup in Turkey last year. The arrest last month of 10 rights activists, including a ...

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• 6 August

  Oman signs $3.55 billion loan with Chinese banks

  

  DUBAI / Reuters The government of Oman has raised $3.55 billion through a loan from a group of Chinese financial institutions, the latest fundraising by the sultanate which has borrowed over $10 billion this year to replenish coffers hit hard by lower oil prices. Oman signed the senior unsecured term loan, with a five-year maturity, on July 11, the finance ...

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• 6 August

  Trukkin’s cloud-based app to help deliver smooth logistics solution

  

  DUBAI / Emirates Business Trukkin Middle East has launched its new cloud-based B2B platform that unites customers with shippers and truckers in the Middle East region to create new business opportunities and deliver streamline logistics solutions. The startup was the brainchild of entrepreneurs from Saudi Arabia and the UAE, and was co-founded by Ahmed Al Nafie and Janardan Dalmia. Trukkin ...

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