June 17, 2018

China’s Silk Road Fund Co is investing in the world’s largest solar thermal plant that’s under development in Dubai, an executive at the company promoting the project said.

The project is being built by Riyadh-based Acwa Power International and Shanghai Electric Group Co Ltd. It’s expected to cost $3.9 billion to build and is planned to have a capacity of 700 megawatts, which is about half of what a nuclear reactor is capable of producing. Silk Road officials were not immediately available for comment.

“They are investing, as one of the"...

June 17, 2018

Dubai in May took another big step toward its goal of becoming the world's greenest city when the inauguration of the 200MW first stage of the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park brought the emirate's clean energy share of its total installed capacity to four per cent.

This follows His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, breaking ground on the solar park's 700MW fourth phase in March.

Dubai plans to have the world's lowest carbon footprint by"...

June 14, 2018

The Dubai Chamber of Commerce and Industry recently participated in the 4th National Export Forum in Kiev where the organisation showcased Dubai’s economic prospects and competitive advantages as a strategic trade hub.

During the forum, representatives from the Chamber’s Azerbaijan office delivered an informative presentation highlighting Dubai’s global appeal and various strengths including its ideal geographic location between East and West, world-class infrastructure, business-friendly environment and attractive free zones.

UAE-Ukrainian trade"...

June 13, 2018

(AETOS Wire) -- CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that its digital platform CEMEX Go, reached close to a quarter of the company’s customer base worldwide, transforming the experience of more than 10,000 customers in three continents, and leading the digital transformation in the global building materials industry.

Based on customer’s feedback, CEMEX keeps improving CEMEX Go by adding new capabilities that offer a more personalized experience through better usability and analytics. Customers can increase operating efficiency and competitiveness, while generating"...

June 13, 2018

(AETOS Wire) -- Gemalto excelled at the 2018 biometrics rally, sponsored by the US Department of Homeland Security’s (DHS) Science and Technology Directorate (S&T) in conjunction with the National Institute of Standards and Technology (NIST). Twelve companies were chosen out of a pool of applicants to showcase their facial recognition technology to address the growing challenge of traveler identification and automated border control. Each company also had to meet several listed requirements such as time restraints, unmanned operation, and limited physical footprint. They were also evaluated in three categories: efficiency, satisfaction, and effectiveness. The 2018 rally was done at the Maryland Test Facility (MdTF) which provides a controlled environment for laboratory evaluation and operational scenario-based testing of various biometric entry and exit concepts of operation under simulated airport conditions. Gemalto created a solution using Live Face Identification System (LFIS) as the core technology to meet the 2018 biometric rally requirements, and the solution outperformed the average range for most metrics in addition to a 99.44% successful acquisition rate in less......

June 11, 2018

Global ratings agency S&P on Sunday affirmed Abu Dhabi's 'AA' long-term and expects the economic growth will gradually pick up and that the country's fiscal position will remain strong over the next two years.

Following 0.5 per cent contraction in real terms in 2017 due to the Opec's oil production cuts, S&P forecast gradual rising real GDP growth of the emirate on the back of recovering oil prices and production and a revival in investment.

'We project that Abu Dhabi's economic growth will rise gradually to three per cent by 2021"...

June 10, 2018

The UAE continued to remain top destination for the foreign companies to invest as the emirate jumped five places to become 30th country in the world for its ability to attract foreign direct investments.

According to the UN Conference on Trade and Development's (UNCTAD) World Investment Report 2018, FDI to the UAE rose by 8 per cent from $9.6 billion in 2016 to $10.4 billion (Dh38.17 billion) last year in part due to rising cross-border mergers and acquisitions sales, making the country the largest source of FDI in 2017 for the Arab region - at 36 per cent of total FDI inflow.

While"...

June 7, 2018

The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, has announced details of both the upcoming Eid Fest celebrations and the annual Abu Dhabi Summer Season, ADSS, 2018.

The celebrations get off to a spectacular start with a 24-hour mall mega sale, featuring discounts of up to 90 percent, as part of Eid Fest celebrations. With more than 500 stores involved, the sale will kick off at 10am on Friday, June 15th and run until 10am on Saturday, June 16th in a bid to bring families and friends to Abu Dhabi to celebrate this special occasion.

Aimed at cementing"...

June 5, 2018

The UAE is the most digital friendly country in the Middle East and also the best country where digital companies can thrive, according to a new study.

Ranked 24th worldwide and the best performer in the region, the UAE offers an impressive trade infrastructure coupled with a supportive business environment. Bahrain was ranked second in the GCC and 38th globally, according to Euler Hermes' report titled 'The enabling digitilisation index: Which countries are digital friendly'?

While Qatar ranked 33rd, Saudi Arabia 50th, Oman at 53rd, Jordan at 64th, Kuwait"...

June 2, 2018

Emirati citizens will not need a visa to visit Canada for up to six months starting from June 5, effectively pushing the UAE passport to the 14th rank of the Passport Index's power ranking, shared with Cyprus.

In addition to Canada, UAE has visa waivers coming in force from Brazil and Guyana resulting in a total visa-free score of 151 – a major step for UAE's Race to the Very Top with the UAE's Passport Force Initiative.

The UAE has strong ties with Canada, with nearly 40,000 Canadians living and working in the nation, and some 150 Canadian companies with strong operational presence in the UAE.

Additionally, the UAE is Canada's top export market in the Mena"...