Sheikh Mohammed authorizes $8.2bln financial assistance to companies to boost UAE economy

His Majesty Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has accepted the Emirates Development Bank (EDB) Strategy, which will offer a sizable AED30 billion in financial assistance to companies and start-ups, as a significant move toward driving the national economy..... Read more »

Posted on : 4/7/2021

UAE signs $3bn investment agreement with Iraq

The United Arab Emirates has agreed to spend $3 billion in Iraq as part of an effort aimed at "solidifying trade and investment links, tapping new opportunities of cooperation, and spurring developmental and socio-economic growth in Iraq.".... Read more »

Posted on : 4/7/2021

Sterlite Technologies Ltd Bags Rs 700-Crore Deals from Telecom Firms in UAE, Africa

Broadband technology company Sterlite Technologies Ltd NSE 2.18 % in March announced to have requested deals of over Rs 700 crore from telecom firms in Middle East and Africa (MEA), taking the company's total order book to over Rs 11,300 crore. The deal includes building infrastructure for 5G, 4G and FTTX for a leading telecom company in the UAE. It also got a deal from North Africa to deploy digital billing solutions for 70 lakh subscribers. .... Read more »

Posted on : 4/7/2021

Dubai Awards $147 Million Rail Contract to Franco-Japanese Group

Dubai's Road and Transport authority said on 13th March it had awarded a USD 147 million (AED 542 million) contract for the operation and maintenance of its rail services to a French-Japanese consortium. .... Read more »

Posted on : 4/7/2021

UAE's Mubadala to invest $1b in the UK's health and life sciences

The Abu Dhabi government's sovereign investment company, Mubadala Investment Co, has signed a long-term deal with the UK Investment Office to invest £800 million ($1 billion) in life sciences and healthcare growth in both countries..... Read more »

Posted on : 4/6/2021

Gulf Capital invests $60m in health-tech firms in the United States

Gulf Capital, based in Abu Dhabi, announced the acquisition of two healthcare technology firms in the United States for $60 million, and its CEO said that the investment company plans to grow in the coming year..... Read more »

Posted on : 4/6/2021

Work Progresses at 950MW World's Largest Concentrated Solar Power Project

Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), inspected the work progress at the 950 MW 4th phase of the Mohammed bin Rashid Al Maktoum Solar Park. The 4th phase uses the Independent Power Producer model with investments up to AED 15.78 billion.... Read more »

Posted on : 4/6/2021

Saudi Electricity Net Income Rises By 118% to $ 806mn

Saudi Electricity said its profits more than doubled last year..... Read more »

Posted on : 4/6/2021

UAE investing $7 billion in India's agricultural sector through a 'food corridor' initiative

As the two countries work on a wider food security partnership, eight food processing units in the Indian state of Madhya Pradesh are being considered with UAE support..... Read more »

Posted on : 4/6/2021

A new virtual series looks at new ways to strengthen economic relations between the UAE and Kazakhstan

According to government officials and trade experts who spoke at the latest Global Partnership Series session, the UAE and Kazakhstan have a lot of room to develop their business relations in key sectors and areas of mutual interest like food security, agriculture, and economic digitalization..... Read more »

Posted on : 4/6/2021