finance & economy

November 13, 2019

Middle East Stevie Awards, the new awards program by Stevie Awards, one of the most prestigious business awards of the world, has initiated its efforts to provide help and support to the nominations for 2020. The award program aiming to reach a lot of companies, whether large or small, will first attend Ras Al Khaimah (RAK) International SME Fair to be organized in the United Arab Emirates between November 14-16, 2019. Attending the fair with RAK Chamber of Commerce,"...

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November 12, 2019

UAE-based Azizi Developments has announced the launch of Miraj, a new development designed with the young generation in mind in Dubai Studio City.

Miraj features 444 units comprising 253 studios, 155 one-bedroom and 366 two-bedroom apartments, the developer said.

It added that Miraj also features a gym, sauna, steam room, swimming pool, kids pool and playground, a retail area and a park.

Farhad Azizi, CEO of Azizi Developments, said: “Miraj in Studio City is our response to a rising"...

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November 12, 2019

Dubai’s selling prices dropped last month at the fastest pace since February 2016, according to IHS Markit.

Its Dubai Purchasing Managers’ Index rose for a third month to 54.6 in October, staying well above the threshold of 50 that separates growth from contraction.

By contrast, IHS Markit’s gauge tracking business conditions for the United Arab Emirates as a whole - of which Dubai is a part - was unchanged at its lowest level in almost a decade.

The rate at which prices"...

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November 12, 2019

Indian clean tech firm Hero Future Energies (HFE) has announced a strategic investment by Abu Dhabi Future Energy Company, better known as Masdar, to fund the expansion of its renewable energy portfolio.

It represents a second strategic investment in HFE since 2017, following initial $125 million made by International Finance Corporation (IFC), part of the World Bank, a statement said.

HFE said the investment by Masdar will help facilitate its further expansion in India and other key growth markets. No value was disclosed for the Masdar investment.

Masdar,"...

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November 12, 2019

LONDON, 11th November, 2019 (WAM) -- Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it will launch a new exchange, ICE Futures Abu Dhabi, IFAD, to host the world’s first futures contracts based on Abu Dhabi National Oil Company’s, ADNOC, Murban crude oil.

On 4th November, Abu Dhabi’s Supreme Petroleum Council, SPC, announced that it would implement a new pricing mechanism for ADNOC’s Murban crude. As a result, Murban pricing will move from a retroactive official selling price to market-driven, forward"...

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November 12, 2019

Dubai's non-oil sector witnessed sharp improvement in October, helped by new order growth, according to IHS Markit Dubai Purchasing Managers' index released on Monday.

The seasonally adjusted PMI rose from 52.6 in September to 54.6 in October, signalling a sharp improvement in operating conditions at non-oil private sector firms in Dubai. This increased activity resulted in more job creation in the emirate, which reached 21-month high last month.

'Key to the uptick was a strengthening of new order growth, which improved for the first time in five months"...

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November 11, 2019

Dubai-based MAG Development, the real estate development arm of the MAG Holding Group, has launched its ‘MAG Yes Plan, offering a package payment plans that allow customers to own their customised homes that suit their purchase power.

The programme, which is the first all inclusive payment packages of all possible fees in addition to exclusive benefits offered to MAG Yes Plan clients, includes three flexible plans to become a homeowner, MAG Zero Plan one of the 3 customised plans allow clients to buy the property without a down payment and without a final payment of delivery, with full exemption from registration fees.

Through this programme, which offers the chance to buy an apartment"...

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November 11, 2019

DUBAI, 10th November, 2019 (WAM) -- Union Coop has announced that the total transactions through its electronic ’Share Trading’ platform accounted for AED204,302 million since the platform’s launch five months ago on 22nd May till the beginning of November 2019.

Commenting on the announcement, the Chairman of Union Coop Majid Hamad Rahma Al Shamsi said, 'Since the launch of the Electronic Share Trading platform, it has offered total freedom to Shareholders to electronically trading their shares in a smooth, efficient and secure environment.'

Al"...

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November 11, 2019

Grant Thornton expands its presence by opening their new office in ADGM. The global professional services firm is one of the fastest growing firms in the region in recent years and now has 4 offices in the UAE.

“We have been operating in the UAE since 1966 and we have seen enormous changes over the years. Opening an office in ADGM is the natural next step for Grant Thornton to move in line with the strategy of the UAE as it goes from strength to strength as the leading international financial services centre"...

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November 11, 2019

The Estée Lauder Companies Inc. (NYSE: EL) released its Fiscal 2019 Corporate Responsibility Report (CR Report).

The report entitled, “Inspired by Beauty, Driven by Our Values,” underscores the company’s progress and commitment to strengthening efforts across core citizenship and sustainability focus areas and highlights key milestones demonstrating industry leadership in inclusion and diversity (I&D) practices. “As we continue to deliver on our promise to create the world’s most beloved products and experiences, we believe that embedding citizenship and sustainability across our business reflects the"...

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