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Dubai / wam His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy and Chairman of the Expo 2020 Dubai Higher Committee, has broken ground for the first solar-driven hydrogen electrolysis facility in the Middle East and North Africa (Mena). The project will be carried out in collaboration between Dewa, Expo 2020 Dubai and ...

Dubai / WAM As the UAE economy grows, global trade enabler DP World is playing a key role in its development, according to a new study by the Boston Consultancy Group, BCG, “Economic Impact Assessment of Jebel Ali Port and Jebel Ali Free Zone on the Economies of Dubai and the UAE.” The results of the study were presented during ...

Dubai / WAM A major contract to complete some 29,000 square metres of public space at Expo 2020 Dubai – worth AED 169 million – was awarded to a UAE-based contractor. The move reinforces World Expo’s commitment to support Emirati companies and create a long-term positive impact on the country’s economy. Arabtec Construction secured the contract, which includes building a ...

Bloomberg President Donald Trump’s desire to put “America first” has fostered new disputes between the US and its allies. In Asia, old rivalries are also roaring back. Ties between Japan and South Korea—two of the US’s closest security partners—have arguably turned their most hostile in more than half a century over a series of diplomatic disputes. Now, there are signs ...

Bloomberg First, Indian tycoon Vijay Mallya faced losing his “palatial” London home, with UBS Group AG saying it wanted to foreclose. Then, a judge said he should be extradited to India. Now, banks are eyeing two superyachts and a collection of valuable cars that they believe he may own. A group of Indian banks — which are trying to collect ...

Bloomberg Luckin Coffee, the ambitious Chinese startup rolling out thousands of stores to take on Starbucks Corp., is beginning preparations for a US initial public offering (IPO) that could raise around $300 million, people with knowledge of the matter said. The company is working with Credit Suisse Group AG on the deal, which could take place as soon as the ...

Bloomberg The Trump administration proposed ending a complex system of drug rebates that influence tens of billions of dollars in US pharmaceutical spending, a mo-ve that could upend the relationship between drugmakers and pharmacy benefits middlemen. The proposal, a long-awaited part of the administration’s plan to target high list prices of drugs, would ban rebates paid by drugmakers to pharmacy ...

Bloomberg After a dismal December, dealmakers made a comeback in January, logging $275 billion of mergers and acquisitions globally to mark the best start to a year in almost two decades. “M&A came back even though the markets felt choppy, and that shows how confident CEOs are,” said Susie Scher, co-head of the global financing group at Goldman Sachs Group ...

Bloomberg Robert Bosch GmbH, the world’s largest auto-parts maker, is stocking up components in the UK LVMH is building up its inventory there. Channel tunnel operator Eurotunnel is expanding its parking lot for trucks in France. European firms that do a lot of business with the UK are preparing for the worst. Their frenzied activity reflects the growing likelihood that ...

DUBAI / Emirates Business In the disruptive age of Uber, Amazon and Airbnb, today’s consumers are accustomed to easy-access, high-quality services tailored to meet their needs. It is this experience with private sector technologies that is shaping their expectation for government service delivery. In turn, the transforming government and citizen relationship has necessitated a radical rethink of government services. The ...