May, 2017

• 18 May

  Regulus Capital CEO bags ‘Best Strategic Vision’ award

  

  Dubai / Emirates Business Renowned entrepreneur and chief executive officer of Regulus Capital, Shailesh Dash, cemented his position as an investment guru and visionary after he bagged one of the most coveted awards at the just concluded 2017 Bankers Middle East awards. The Regulus Capital founder emerged the clear favorite and this year’s recipient of the ‘Best Strategic Vision’ award. ...

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• 18 May

  DCCI honours top 3 winners of Dubai Smartpreneur Competition

  

  Dubai / WAM The Dubai Chamber of Commerce and Industry (DCCI) announced the top three winners of the 2nd cycle of the Dubai Smartpreneur Competition during the closing ceremony for the 5th ArabNet Digital Summit in Dubai. FriendyCar, a marketplace for borrowing and lending cars, claimed the first-place prize, while second place went to CorporateStack, a web-based solution for managing business ...

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• 18 May

  ADSIC sees no threat to govt entities from ‘WannaCry’ malware

  Abu Dhabi / Emirates Business The Abu Dhabi Systems and Information Center (ADSIC), the government entity responsible for developing the ICT sector in the Emirate of Abu Dhabi, announced on Thursday that there have been no reports of ‘Ransomware’ cyberattacks across government entities in the Emirate of Abu Dhabi. This comes as hundreds of countries have been under attack by ...

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• 18 May

  ‘Piracy Full Stop’ wins best int’l movie award at CIFF

  Dubai / WAM ‘Piracy Full Stop’ won the best international movie at the Children’s International Film Festival (CIFF 2017), which concluded at the Higher Technology College in Dubai Academic City. Yousef Ozair Mubarak, Director of the Intellectual Property Rights, IPR, Department at Dubai Customs, awarded the winners in the presence of Ahmed Mahboob Musabih, Director of Dubai Customs. Winchester School’s ...

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• 18 May

  UAE Dirham marks 44 years in circulation

  Dubai / Emirates Business As the UAE dirham completes its 44th year on May 19, the currency celebrates its unified form representing the seven emirates after undergoing several transformations. The 1973 born banknotes began their journey in denominations of 1, 5, 10, 50 and 100, displaying the watermark of an Arabian horse – which was later changed to falcon, the ...

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• 18 May

  DM supplies 700 Dubai Lamps to RTA

  Dubai / WAM Following up on the agreement signed last month, the Dubai Municipality9 (DM) supplied 700 Dubai Lamps to the Roads and Transport Authority (RTA). With the aim of promoting Dubai Lamp, the municipality had signed several agreements with a number of government and private organisations, as well as strategic partners including the RTA. This is the first batch ...

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• 18 May

  Fracking crew shortage may push oil’s biggest bubble to 2018

  

  Bloomberg Shale explorers pushing to expand oil production are struggling to find enough fracking crews after thousands of workers were dismissed during the crude rout. Independent US drillers underspent their first-quarter budgets by as much as $2.5 billion collectively, largely because they couldn’t find enough fracking crews to handle all the planned work, according to Infill Thinking LLC, a research ...

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• 18 May

  Saudi wealth fund starts defense firm to meet military needs

  Bloomberg Saudi Arabia’s sovereign wealth fund set up a defense company to help reduce the kingdom’s reliance on foreign purchases and to diversify the economy away from oil ahead of a visit by US President Donald Trump. The Saudi Arabian Military Industries, or SAMI, will manufacture products and provide maintenance services across units, including air and land systems, weapons and ...

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• 18 May

  Iraq set for highest monthly crude exports

  

  Bloomberg Iraq is on track for what may be the country’s highest monthly crude exports even as the Middle East nation supports moves to extend OPEC-led production cuts aimed at trimming bloated global inventories. Vessels hauling 62 million barrels of the nation’s crude departed ports in the Persian Gulf and Mediterranean Sea in the first half of May, according to ...

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• 18 May

  Algeria says most nations back 9-month oil extension

  Bloomberg Algeria, the African oil producer that was instrumental in crafting OPEC’s historic output deal last year, said most participating nations back a nine-month extension of the cuts. “Most of the countries support the proposition of Russia and Saudi Arabia to extend,” Algerian Energy Minister Noureddine Boutarfa said in Moscow after talks with his Russian counterpart, Alexander Novak. Algeria also ...

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