April, 2017

• 6 April

  Facebook adds wifi hotspots to sustain African growth

  

    Bloomberg Facebook Inc. has increased the number of its African users to 170 million and plans to expand further by adding wifi hotspots and laying fiber-optic cables in a bid to spread its reach outside of developed markets. The figure is 42 percent higher than when the US social network first opened an African office in 2015, Carolyn Everson, ...

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• 6 April

  UK court gives ruling on tech patent rights

  

    LONDON / AP Britain’s High Court ruled that it can decide what mobile phone manufacturers should pay to use patented technology that is essential to make mobile networks function. In a case that helps clarify how patents are handled in the telecoms industry, Justice Colin Birss ruled that neither of the parties in the case had made a “fair, ...

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• 6 April

  New robo-adviser app to manage investors’ wealth

  

      Bloomberg Yunfeng Financial Group Ltd., the financial services company backed by Alibaba-billionaire Jack Ma, has created a robo-advisor application to manage the wealth of regular Chinese and Hong Kong investors, a segment traditionally neglected by banks and financial institutions. The service — called Youyu — targets anyone who has a bank account in Hong Kong with at least ...

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• 5 April

  AED74 million infrastructure projects in Abu Dhabi okayed

  

    ABU DHABI / WAM The Infrastructure and Environment Committee of the Executive Council of Abu Dhabi approved several infrastructure projects. These projects come to meet the growth and sustainability needs of the region and were adopted as part of the Abu Dhabi plan at a total cost of AED74 million. The Committee approved the awarding of the operation and ...

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• 5 April

  UAE stock markets gain AED21bn in 3 sessions

    ABU DHABI / WAM UAE stock markets continued their gaining streak on April 5, with the share of the new First Abu Dhabi Bank, (Ticker NBAD), maintaining its upward rise up to AED 11.35, supported by a buying spree by foreign and local investors. Transactions over the new share hit AED 375 million, an-all-time high in years, ahead of ...

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• 5 April

  MoF-Angola agreement to promote investments

  

    Dubai / Emirates Business UAE, represented by the Ministry of Finance (MoF), signed an agreement for protection and promotion of investment with Angola, on Ministry’s premises in Dubai. The agreement comes in line with the Ministry’s strategy to expand its network of international relations and protect investments abroad. The agreement was signed by HE Obaid Humaid Al Tayer, Minister ...

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• 5 April

  Emirates NBD Capital completes landmark IPO

    Dubai / Emirates Business Emirates NBD Capital Limited (EMCAP), the investment banking division of Emirates NBD PJSC, one of the largest banking groups in the Middle East by assets, has successfully completed its role in the landmark IPO of ENBD REIT, which admitted shares to trading on Nasdaq Dubai on March 23. EMCAP acted as Listing Advisor to ENBD ...

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• 5 April

  UAE leads the way in GCC fintech sector

    Dubai / Emirates Business The rise of the digital economy has catapulted the GCC into a position of significant market opportunity that serves as an emerging market advantage for the development of a flourishing fintech ecosystem. With the UAE and Saudi Arabia leading the way, the region has some of the world’s highest rates of mobile and internet penetration, ...

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• 5 April

  US threatens unilateral action in Syria ‘if UN fails to act’

  

    WASHINGTON / AP The United States and Russia traded conflicting assertions on Wednesday about who launched a chemical weapons attack in Syria that killed 72 people, as world leaders grasped for a response to the latest atrocity in Syria’s intractable civil war. The Trump administration stood by its charge that Syrian President Bashar Assad’s forces were responsible. Not so, ...

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• 5 April

  Taliban attack kills 6 in Pakistan, including census workers

    LAHORE / AP A Taliban suicide bomber struck a vehicle carrying census workers in eastern Pakistan on Wednesday, killing two data collectors and four soldiers who were escorting them, officials said. The attack took place on the outskirts of Lahore, said Malik Ahmad Khan, the provincial government spokesman. A local police official, Mohammad Afzal, said that 15 other people ...

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