finance & economy

February 18, 2020

ABU DHABI, 17th February, 2020 (WAM) -- The newly established Abu Dhabi Exports Office, ADEX, and the Abu Dhabi Chamber of Commerce and Industry, Abu Dhabi Chamber, signed a Memorandum of Understanding, MoU, to cooperate on a series of initiatives.

Through the partnership, the two entities aim to leverage the innovative financial products and services offered by the ADEX to elevate the international reputation of the UAE as a valuable and trusted trading partner, while helping national businesses expand their exports of UAE goods and services.

Mohamed Helal Al-Muhairi,"...

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February 18, 2020

ABU DHABI, 17th February, 2020 (WAM) --- Abu Dhabi-based industrial facilities grew by more than 57 percent in 2019 to 66 from 42 facilities in 2018, hitting a combined investment value of AED6.29 billion, figures by the Abu Dhabi Department of Economic Development, ADDED, revealed.

The latest edition of the annual Industrial Activity Report issued by the Industrial Development Bureau, IDB, of the ADDED highlights key statistics showcasing the local industrial sector’s performance in 2019. A total of 1,552 industrial licenses, comprising 811 with ‘Production’ status; 535, ‘Under Process;’ and 206, ‘Industry"...

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February 18, 2020

DUBAI, 17th February, 2020 (WAM) -- A high-level delegation from the African Organisation for Standardisation, ARSO, which has 37 members, reviewed the UAE Halal system, which was launched by the Emirates Authority for Standardisation and Metrology, ESMA, and achieved a global spread in the past five years.

The African continent will hold a set of normative comparisons during the coming period, after the good reputation of the UAE Halal system led them to attend the activities of the 5th Global Halal Industry Platform as a guest of honour, to listen closely to all the technical and operational details.

The"...

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February 18, 2020

National Geographic contributor Kiliii Yuyan gave a presentation about his photography titled ‘True Grit in Photography (and Life)’ at the American University of Ras Al Khaimah (AURAK).

The presentation was organized in conjunction with the US Consulate General in Dubai and the Sheikh Saud Bin Saqr Al Qasimi Foundation.

Mr. Yuyan specializes in photographing the Polar Regions, the wilderness and indigenous life and his photos have won awards and featured in National Geographic magazine.

He"...

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February 17, 2020

Nama Women Advancement Establishment (Nama) has signed a Memorandum of Understanding (MoU) with Sharjah Media City (Shams) to support women-owned businesses across Sharjah through focused data collection, that will aid in studies to advance women's economic activities in the emirate.

The collected data will contribute to the development of tools, processes and systems to bolster the business sector, in general, with special emphasis on women-led projects, in line with Sharjah's commitment to make the best use of its resources and ensure women's full participation in the economy.

Reem"...

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February 17, 2020

ABU DHABI, 16th February, 2020 (WAM) -- The Statistics Centre - Abu Dhabi, SCAD, reported on Sunday that the Consumer Price Index, CPI, decreased by 1.8 percent in January 2020, compared with the same month in 2019.

According to the latest index report of the statistics authority, the CPI reached 109.7 percent in January 2020, while it was 111.8 percent in January 2019.

The SCAD report noted a 0.1 percent growth in CPI figures in January 2020, compared to December 2019.

The statistics centre"...

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February 17, 2020

More than 100 companies from Pakistan are participating in the Gulfood 2020 exhibition, which opened its doors on Sunday at the Dubai World Trade Centre.

Ahmed Amjad Ali, Pakistan's consul general in Dubai, said that 48 companies came through Trade Development Authority of Pakistan, while over 55 private companies are directly taking part in the five-day expo.

'These big companies have been doing a lot of good business with the UAE for so many years. This year, we have customers from all over the world - Australia and the USA - who are keen of Pakistani food."...

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February 17, 2020

Authors Dr. Saeed K. Al Dhaheri and Ranjit Rajan have collaborated with Smart Dubai to publish a book on the digital transformation of the UAE, aptly titled, Digital Nation: How the United Arab Emirates is building a future based on tech innovation.

The 160-page book officially launched at the 39th GITEX Technology Week in October 2019, will take you on a journey through the UAE’s ongoing digital transformation, driven by harnessing disruptive technologies, such as artificial"...

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February 17, 2020

(AETOS Wire)-- The Seoul Global Challenge (hereinafter called SGC) 2019-2020, hosted by the Seoul Metropolitan Government and organized by Seoul Business Agency (SBA) aimed at finding innovative solutions to urban problems by inviting global innovators, culminated with the awards ceremony on the 6th, according to the Seoul Metropolitan Government. The subject of the 1st SGC was “Proposals on reducing fine dust levels in the Seoul Subway.” The Challenge brought together 106 companies from all parts of the world, including the United States, France, and Japan as well as Korea, who introduced their products for competition in three categories -- tunnel, platform, and train. The solutions selected as finalists were installed in the Seoul Subway to test their effectiveness in reducing fine dust levels. As a result, three teams were selected as winners with the most effective solution. KRW 500 million in prize money was awarded to the first-place winner and KRW 50 million each for two category winners. First-place winner Corning took part in the Challenge’s platform category by introducing its solution using its own ceramic honeycomb filters. In the platform category, Allswell......

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February 16, 2020

Stock markets “have become more punitive” for firms that miss earnings targets, the founder of one of the world’s biggest alternative asset managers said.

Leon Black of Apollo Global Management, which has $331 billion (Dh1.2 trillion) of assets under management, said this has led to a “bifurcation” between highly-valued technology stocks and solid, but unloved companies.

“You miss your quarter [earnings target] by a few pennies and you get slaughtered,” Mr Black said at the Milken Institute Middle East and Africa event in Abu"...

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