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Abu Dhabi / WAM Abu Dhabi Ports and the Mauritius Ports Authority (MPA) signed a memorandum of understanding (MoU) to pool their combined expertise to enhance the maritime sector across the Indian Ocean, from port infrastructure and security to protecting the en-vironment and driving the cruise industry. The MoU was signed by Captain Mohamed Juma Al Shamisi, CEO of Abu ...

Dubai / Emirates Business ENBD Reit, the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has confirmed a $177 million (AED650 million) Shari’a-compliant financing facility with Mashreq Bank. The facility will refinance as much as $134.5 million (AED494 million) of the Reit’s existing debt — reducing its cost of financing — as well as provide ...

Dubai / WAM The Dubai Electricity and Water Authority (Dewa) has organised a number of workshops for its management and specialists to discuss how quantum computing can be used in electricity and water production processes. A number of quantum computing experts from Microsoft participated in the workshops, which were held over two days at the Dewa Campus for Occupational and ...

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) will provide AED1 billion to support the balance of payments and national housing project in Mali. ADFD has signed two agreements with the Government of Mali. These include an AED918 million ($250 million) concessionary loan to support the balance of payments in the country as well as an additional concessionary ...

SHARJAH / WAM The Sharjah Airport International Free Zone (Saif Zone), host to 8,000 companies, held a business meeting in Abu Dhabi, participated by more than 80 investors and businessmen representing multinational companies from Hong Kong, Malaysia, Singapore and representatives of business councils operating in the UAE. The meeting came as part of Saif Zone’s efforts to attract and introduce ...

Bloomberg India issued a new tender for solar power equipment manufacturing capacity totaling 2 gigawatts, the latest attempt to spur its domestic industry after two earlier efforts failed to rouse investor interest. The new tender, issued by the state-owned Solar Energy Corp. of India, seeks as many as four projects for module, cell, ingot and wafer manufacturing with annual capacity ...

Bloomberg Japan moved to cut off materials vital to South Korea’s all-important tech industry, escalating a long-running dispute between the neighbours over events dating back generations. Prime Minister Shinzo Abe’s government said it would slap export restrictions on highly specialised products needed to make semiconductors and computer displays, and might also remove South Korea from a list of trusted buyers. ...

Bloomberg Bharti Airtel Ltd’s Africa unit plunged in London trading after raising about $750 million in an initial public offering, making it among the worst debuts on European exchanges this year. Airtel Africa Ltd dropped as much as 16 percent to 67 pence per share, matching the first-day decline for OssDsign AB last month. Airtel Africa said it had priced ...

Bloomberg India’s government can offer fiscal stimulus to support economic growth in its budget next week without worrying about it being inflationary. That’s according to Kapil Gupta, an economist with Edelweiss Securities Ltd in Mumbai, who says a weakening economy and a possible US interest rate cut provide scope for India’s authorities to lift spending. Such a move wouldn’t undermine ...

Bloomberg Iron ore exports from Australia are set to post the first annual drop in almost two decades following bad weather and output setbacks, worsening a global shortage and bolstering prices that have already surged to a five-year high. Futures advanced. The world’s top shipper cut its 2019 forecast to 814 million tons from 867 million in March and boosted ...