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DUBAI / WAM Lootah Real Estate has signed a deal with Dubai South to develop more than one million square foot of housing units at the site’s residential district. The agreement, which is a joint venture between Lootah Real Estate and Dubai South, will result in the construction of 1,150,548 sq ft of residential units over a number of phases. ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, is to participate in the fourth edition of World Green Economy Summit (WGES 2017), organised under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, set to be held on October ...

Abu Dhabi / WAM Etisalat’s goodwill amounted to AED14.65 billion during the H1 of 2017 from AED14.09 billion during the corresponding period in 2016. The growth translates the company’s resounding success in keeping its eminent position as a leading entity at the communications sector, not only in the UAE only but also in the Arabian Gulf and Middle East region ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...