Monday 18 December 2017

Sharjah unveils $6 billion budget for 2018

Sharjah, UAE has unveiled a general budget of Dh22.1 billion ($6 billion) for the fiscal year 2018, marking a is a 6 percent increase from the emirate's 2017 budget, a media report said.  Approved by Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Rul


Mashreq Bank honours CEO with ‘wellness leader’ award

Mashreq Bank, a leading privately owned bank in the UAE, recently honoured its CEO Abdul Aziz Al Ghurair with the ‘Corporate Wellness Leader of the Year’ award at the Daman Corporate Health Awards. Described by many of his employees and peers in business circles as a


Gulf Bank wins top Asian Banker award

Gulf Bank, a leading bank in Kuwait, was presented the ‘Credit Risk Technology Implementation of the Year in the Middle East and Africa’ award by The Asian Banker at a ceremony held earlier this month at the Conrad Hotel in Dubai. The Asian Banker is one of Asia&rsquo


UAE-Japan trade volumes hit $25bn in 2016

Trade volumes between the UAE and Japan reached $25 billion last year, representing 32 per cent of Japan’s entire trade with Middle Eastern countries, business leaders said at a key meeting in Sharjah, UAE. The roundtable was hosted by Invest in Sharjah (IIS) in collaboration wit


Dubai Investments to roll out new sustainability goals

Dubai Investments said these initiatives were identified and evaluated as part of DI Sustainability Champions Network, comprising 20 employees across Dubai Investments and its subsidiaries. Reinforcing its commitment to the cause of sustainability, the DI Sustainability Champions


Saudi stimulation plan to spend $53bn in 4 years

Saudi Arabia's economic stimulation plan launched today will comprise 17 initiatives amounting to SR200 billion ($53.32 billion) over the coming four years, said Minister of Commerce and Investment Dr Majed bin Abdullah Al-Qasabi.   The plan aims at enhancin


Abraaj invests in top Turkish online travel agent

The Abraaj Group, a leading investor operating in growth markets, has acquired, through its Anatolia Growth Capital Fund, a minority stake in Biletal İç ve Dış Ticaret, one of the leading online travel agents (OTAs) in Turkey.  The transaction marks the first-ever tec


Saudi Arabia approves $19.2bn stimulation plan

Saudi Arabia's King Salman bin Abdulaziz Al Saud has issued a royal decree approving the private sector stimulation plan and allocating a total of SR72 billion ($19.2 billion) for the plan.    The private sector stimulation plan is based on what has adv


ADGM-regulated $2bn feeder fund for India launched

Next Orbit Ventures (NOVF) ESDM, the newly launched Abu Dhabi-based fund established under the Abu Dhabi Global Markets (ADGM) jurisdiction, has announced the launch of a $2 billion fund for building semiconductors and electronics fab ecosystem in India.   


FAB opens headquarter branch in Abu Dhabi

First Abu Dhabi Bank (FAB), the UAE’s largest bank, celebrated the official inauguration of its  headquarter branch in Khalifa Business Park, Abu Dhabi, at an exclusive event attended by senior management.    The new branch was inaugurated by She

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