finance & economy

February 22, 2018

Construction group ASGC has announced reaching a main milestone on the Harbour Views project by Emaar in Dubai Creek Harbour with the completion of foundation works.

Work to the eighth-floor level was completed on time, achieving 20 percent of overall progress in the construction of the two high-rise residential towers, the company said in a statement.

It said a total of 17,800 cubic metres of concrete were used for the concrete work for the two towers.

“We are proud to strengthen our"...

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February 22, 2018

The Roads and Transport Authority (RTA) has unveiled the initial design of the Hyperloop project which aims to revolutionise travel by cutting the Dubai to Abu Dhabi journey to just 12 minutes.

Hyperloop, which is part of RTA’s initiatives for Dubai Future Accelerators, was exhibited for the first time in the world, in collaboration with Virgin Hyperloop One, as part of its participation in the UAE Innovation Month.

The RTA and Virgin Hyperloop One Company said they have made 'considerable progress' in the technical, engineering and economic feasibility"...

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February 22, 2018

(AETOS Wire) -- Halliburton (NYSE: HAL) announced today that its Angolan facilities, Luanda – SONILS base, which incorporates the Cabinda – Malembo base and Soyo – Kwanda base facilities, and all of the company’s product service lines in those locations have received the American Petroleum Institute (API) Specification Q2 Registration. The facilities are the first in Angola to receive this registration, an advanced industry quality standard for oil and natural gas service companies.

API Q2 is a risk-based quality management system approach that focuses on competency, service design,"...

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February 21, 2018

Abu Dhabi Financial Group, the investment firm with around $6 billion in assets under management, plans to launch a new fund this year and is eyeing private equity acquisitions in Latin America as it continues to diversify its investments, its chief operating officer said.

ADFG is targeting a launch in the next 3-6 months for a $150 million mezzanine debt fund and the initial public offering of Etihad Reit, said Mustafa Kheriba. The company has received “a good portion of soft commitments” from GCC and Mena investors for the mezzanine fund. The Etihad Reit, which will focus on various types of property across the seven emirates,"...

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February 21, 2018

Finance House, which is listed on Abu Dhabi Securities Exchange, announced the opening of its new branch in Mussafah industrial area, Abu Dhabi.

The opening ceremony was held under the patronage of Khalil Mohammed Sharif Foulathi, member of the Board of Directors of Abu Dhabi Investment Authority, and in the presence of Mohammed Abdulla Alqubaisi, Chairman of Finance House, Alia Abdulla Al Mazrouei, member of the Board of Directors at Finance House and Fatima Obaid Al Jaber, member of the Board of Directors at Al Jaber Group.

Strategically located in Mussafah, one"...

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February 21, 2018

H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent, ERC, on Tuesday launched the Zayed World Humanitarian Renewable Energy Initiative, Al Hayat, as part of the ERC's programmes for the Year of Zayed 2018.

Sheikh Hamdan said that the initiative a joint partnership between the ERC and the Abu Dhabi Future Energy Company, Masdar comes within the UAE's efforts, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan and with the support of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and His"...

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February 21, 2018

Phase 1 of the Dh25 billion Sharjah Waterfront City project is on track for completion, with the handover of 321 villa units scheduled for 2019.

Speaking to the media on Tuesday morning, officials from Sharjah Oasis Real Estate, the developer of the project, say that construction work is progressing steadily on 'Sun Island' - one of the eight natural islands that make up the 60 million square feet development. Phase 1 involves the completion and handover of 321 residential units ranging between three, four, five, and six-bedroom villas on Sun Island.

'More"...

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February 21, 2018

Nikai Electronics, a part of the Nikai Group of companies, has concluded its search for best legacy recipes on its popular social media platforms recently. The campaign, which received an overwhelming response from various nationalities across the GCC, was held to draw in the best recipes passed down through generations.

Speaking about the competition and engaging target consumers online, Karthik Moorthy, Vice President, Nikai Group of Companies, said, “Our social media team developed the idea of sharing the best recipes that have been passed down by mothers to our followers."...

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February 21, 2018

The UAE is making good progress in increasing road safety and in reducing the number of accidents, injuries and fatalities on our roads. In the last 10 years the number of fatalities could be reduced by 50% to 525 in 2017. Despite of these commendable achievements, many remarks are made with regards to the lack of a positive driving culture, often in the context of the UAE being a melting pot of residents with diverse backgrounds.

Several studies conducted in the UAE prove the fact that UAE motorist perceive high levels of dangerous driving and the lack of consideration for others. Behavior studies linked to the main killers on our roads uncovered"...

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February 21, 2018

(AETOS Wire) -- The Andersen name launches in Egypt this week as Maher Milad Iskander and Co., an Egyptian tax and legal firm based in Cairo, formally adopts the name Andersen Tax & Legal. Maher Milad Iskander and Co. became a collaborating firm of Andersen Global in July of 2017 and is one of three that have become member firms and adopted the Andersen name thus far in 2018.

Maher Milad Iskander, Managing Partner of Andersen Tax & Legal in Egypt, said, “Andersen Global’s strategy of focusing on outstanding tax and legal services will provide us with many advantages and will allow us to"...

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