A Dubai-based investment firm on Tuesday announced its entry into the Indian market with an initial commitment to invest $300 million in the real estate and technology sectors over the next five years. Relam Investment LLC will make India its investment …
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DGCX deploys new technology from Cinnober
The Dubai Gold & Commodities Exchange (DGCX), and its 100 per … “With this upgrade we’re benefiting from cutting-edge exchange and clearing technology and preparing for further growth.” “The launch was smooth, operations have been enhanced …
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Estonia seeks closer ties with Dubai with new office
The Dubai Chamber of Commerce and Industry has announced plans … Separately, Urve Palo, Minister of Entrepreneurship and Information Technology of Estonia, said an embassy would soon be opened in Abu Dhabi.
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NYU labor compliance in Abu Dhabi comes into question
NEW YORK (AP) — A report issued Thursday by a group of New York University students and faculty members is taking the university to task for labor practices connected to its campus in Abu Dhabi, saying that workers employed there still face risk of …
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Abu Dhabi hedges against oil price risk
DUBAI: Behind the 65-story glass tower that houses the shiny new headquarters of Abu Dhabi National Oil Co (Adnoc) sits a remnant of the Middle Eastern emirate’s not-so distant past: the squat, sand-coloured building that the government-owned energy …
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Dubai’s stock market sees 52% slump in Q1 net profit
Dubai Financial Market Company on Tuesday announced a net profit of AED48.9 million ($13.3 million) in the first quarter of 2018, a 52 percent decrease compared to the year-earlier period. The company’s total revenue also fell by 34 percent to AED99.1 …
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Bollywood superstar opens new $27m Dubai steel pipe mill
Conares, the second largest private steel manufacturer in the UAE, has inaugurated its pipe mill in Jebel Ali Free Zone. The new state-of-art facility, installed with an investment of AED100 million ($27 million), now makes Conares a manufacturer of 1 …
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Dubai, Abu Dhabi Non-Oil GDP to Grow on State Spending, IMF Says
Dubai’s economy expanded 2.8% in 2017 Abu Dhabi’s non-oil GDP grew 1.8% in 2017 Abu Dhabi’s non-oil GDP is set to advance 3.3% in 2019 vs 2.5% this year
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U.S., UAE crack down on network for smuggling funds to elite Iran group
The Treasury Department, acting with the United Arab Emirates where front companies were located, said it had disrupted the large network’s operations, and accused Iran’s central bank of helping the group access U.S. dollars held in foreign banks to …
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UAE puts nine Iranian entities, individuals on terrorism list
The United Arab Emirates listed on Thursday nine Iranian entities and individuals on the terrorism list for transferring funds to the Iranian Revolutionary Guards. According to the statement published by WAM, the Cabinet issued Ministerial Resolution No …
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UK agency to provide $135m for Dubai World Trade Centre expansion
UK Export Finance (UKEF), the UK’s export credit agency, is to provide support of more than £100 million ($135.2 million) for the construction of the fourth phase of the Dubai World Trade Centre. Phase four will see the construction of an onsite hotel and …
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UAE Ministry of Finance Organizes a Workshop on the Launch of the Automated Reconciliation System
As part of its ongoing efforts to provide the best integrated solutions that improve the levels of financial management systems, the Ministry of Finance (MoF) organised a workshop today on the launch of its automated reconciliation system specific to …
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Dubai Properties Says ‘1/JBR’ on Track for Completion in 2019
Dubai Properties’ flagship project 1/JBR, taking shape on one of the final plots of land in the sought-after Jumeirah Beach Residence (JBR) district, is on track for a timely handover in Q4 2019. Bearing the distinction of being the only residential …
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Growing up – why the UAE’s first vertical farm could be a regional gamechanger
Badia Farm grows greens in a controlled, indoors environment using hydroponic technology and LED lights. By Rabiya Jaffery ABU DHABI, May 10 (Thomson Reuters Foundation) – When people picture the United Arab Emirates, what likely comes to mind are desert …
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Why switch your offshore company to the UAE?
Doing business: The UAE regularly ranks highly on the World Bank’s Doing Business Index, which measures countries against 11 key indicators of business regulation to establish the ease with which it is possible to form and run a company. In 2018 it was …
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Dubai Launches Blockchain Business Registry To Ease Market Entry
Businesses looking to launch in Dubai will benefit from a blockchain registry, a joint project between the government and partners including IBM. The Dubai Blockchain Business Registry Project will also see involvement from Smart Dubai and Dubai Silicon …
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Egypt Property Show nets $110m sales
The Egypt Property Show ended on a successful note in Dubai, registering a sharp jump in property sales which soared to $110 million, more than 100 per cent over last year’s returns. The event, inaugurated by Egypt Ambassador to the UAE, Wael Gad and …
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