By Arabian Post Staff DP World has announced a partnership with Zhejiang China Commodity City Group Company LTD (CCC) to develop the ‘Traders Market’ in Jebel Ali Freezone (JAFZA). DP World will hold a majority share in the 70/30 joint venture. The Traders Market project will span approximately 800,000 square metres, with Phase 1 development covering about 220,000 square metres. Phase 1 Capex is estimated at $150 […]
|By Arabian Post Staff| The current global energy transition is driving an “inevitable geopolitical shift” and creating “unique opportunities not seen in generations,” according to a Winton Group-backed advanced energy investment firm. This analysis by Dr Erich Becker, Founder and Managing Partner of London-based energy investment firm, Exergy Capital, comes as momentum builds across the world on the seismic shift towards cleaner energy sources, and with oil […]
|By Arabian Post Staff| Aldar Investment Properties announced it has agreed to acquire full ownership of Etihad Plaza and Etihad Airways Centre in an AED 1.2 billion transaction with Etihad Airways. As part of the deal, Etihad will take 100% ownership of Etihad Airways HQ. The three properties were previously held in three 50/50 joint ventures between Aldar Properties and Etihad. The transaction is expected to complete […]
|By Arabian Post Staff| Orion Health announced a commercial agreement with Abu Dhabi Health Data Services, a new company established as part of the Public Private Partnership (PPP) between the Department of Health – Abu Dhabi (DoH) and Injazat Data Systems, a subsidiary of the Abu Dhabi government-owned Mubadala Investment Company, to deliver a Health Information Exchange (HIE) platform. The HIE will be known as ‘Malaffi’ and […]
|By Arabian Post Staff| Abu Dhabi National Oil Company (ADNOC), Eni and OMV signed two new strategic equity partnerships covering both ADNOC Refining and a new trading joint venture, which will be jointly established by the three partners. In one of the largest ever refinery transactions, Eni and OMV will acquire 20% and 15% shares in ADNOC Refining respectively, with ADNOC owning the remaining 65%. The agreement […]
|By Arabian Post Staff|The UAE Federal Tax Authority plans to further improve VAT compliance rates, promote registration among taxable businesses, and combat tax evasion. FTA director general Khalid Ali Al Bustani announced in a review of the first year of implementation of tax. The DG revealed that the number of businesses that registered in the tax system during the first year of implementation exceeded 296,000 companies and […]
|By Arabian Post Staff| The total value of international trade through Dubai’s free trade zones recorded 22 percent jump to US$107.35 billion (Dh394 billion) in the first nine months of 2018, according to a latest report. This represents 41 percent of the emirate’ total trade of the first nine months. Imports amounted to 54.5 percent at Dh215 billion, while exports and re-exports reached 45.5 percent at Dh179 billion. Overall, […]
|By Arabian Post Staff| Cosco Shipping Ports and Abu Dhabi Ports inaugurated CSP Abu Dhabi Terminal at Khalifa Port; positioning Abu Dhabi as the regional hub for Cosco’s global network of 36 ports and further connecting the Emirate to the major trade hubs along the Belt and Road Initiative (BRI). The deepwater, semi-automated container terminal includes the largest Container Freight Station (CFS) in the Middle East, covering 275,000 square metres. The state-of-the-art […]
|By Arabian Posst Staff| Etihad Aviation Group (EAG) CEO Tony Douglas and Jiangsu Provincial Overseas Cooperation and Investment Company Limited (JOCIC) Chairman Luo Hua inked a Memorandum of Understanding (MoU) for a strategic partnership during Chinese President Xi Jinping’s three-day state visit to the United Arab Emirates. The two sides plan to cooperate on a wide range of areas in order to better support the development of […]
By James M. Dorsey This month’s inauguration of a fibreoptic cable linking Pakistan with China could prove to be a double-edged sword. Constructed by Chinese conglomerate Huawei Technologies Co., Ltd, the cable is likely to enhance both Pakistan’s information communication technology infrastructure as well as the influence of Chinese authoritarianism at a moment that basic freedoms in Pakistan are on the defensive. The $44 million, 820-kilometre underground Pak-China Fibre […]
|By Arabian Post Staff| Noon, the Middle East’s homegrown digital marketplace, announced the launch of two entities in China, one on the mainland and the other in Hong Kong, kick starting noon’s Asia operations. In China, noon aims to establish a trusted network of high-quality Chinese brand owners with unique offerings, to bring the best range of products to customers in the Middle East. A dedicated noon […]
By James M. Dorsey Saudi Crown Prince Mohammed bin Salman could well dash expectations that he is gunning for a break with Sunni Muslim ultra-conservatism rather than a shaving off of the rough edges of Wahhabi ideology that has been woven into the kingdom’s fabric since its founding more than eighty years ago. Prince Mohammed has fuelled expectations by fostering Islamic scholars who advocate a revision of […]
The Ministry of Climate Change and Environment (MOCCAE) and the International Center for Agricultural Research in the Dry Areas (ICARDA) signed a Memorandum of Understanding (MoU) to strengthen research in forage production in the UAE. The MoU was signed by Sultan Alwan, Assistant Undersecretary of the Regions Sector at MOCCAE, and Dr Aziz Awlad Bilqasim, Regional Coordinator for ICARDA. Speaking on the partnership, Sultan Alwan said that the […]
By James M. Dorsey Saudi Crown Prince Mohammed bin Salman’s investment of $1 billion and option to pump a further $480 million into Richard Branson’s ventures in space, confirmed during the prince’s recent visit to the United States, was more than just another headline-grabbing move. By focusing on space sciences, long a field rejected by ultra-conservative Islamic scholars, some of whom insist that the earth is flat, Prince […]
|By Arabian Post Staff| Fujairah, which hosts the Middle East’s largest commercial storage capacity for refined oil products, has engaged S&P Global Platts in a 3-year agreement to distribute the Emirate’s weekly inventory data as part of its effort to position the Indian Ocean port-city as a global oil trading and storage hub. After a successful one-year publishing agreement, the Fujairah Oil Industry Zone (FOIZ) agreed to extend […]
|By Arabian Post Staff| UAE-based multinational company, Crescent Enterprises, has announced the successful closing of its investment in ColubrisMX and XCath, two next-generation micro-robotic medical device companies through its newly launched corporate venture arm, Crescent Enterprises Venture Capital (CE-VC). Developed at the University of Texas Medical School’s Microsurgical Robotics Laboratory and incorporated in Texas, USA, both companies design and develop next-generation robotic technologies that are expected to revolutionise […]
|By Arabian Post Staff|ADNOC plans to explore and appraise Abu Dhabi’s unconventional gas resources, as the company seeks to enable future value creation from its untapped gas resources, the company announced. ADNOC will spend over AED 400 billion over the next five years, as it embarks on its Upstream and Downstream expansion and growth projects, the company announced. The Supreme Petroleum Council (SPC) approved ADNOC’s key strategic […]
|By Arabian Post Staff|With the official implementation of Valued Added Tax (VAT) across the GCC coming into effect in January 2018, a majority of industries in the Gulf, including the burgeoning food production and manufacturing sphere, are worried about the ripple effect of the region’s first applied taxation. The Business Talks Conference will see top decision makers and market leaders gathering to outline, discuss and debate the […]
|By Arabian Post Staff| Saudi Arabia’s Public Investment Fund (PIF) has announced the establishment of the Saudi Real Estate Refinance Company (SRC) to improve the performance of the real estate market, increase its contribution to GDP, and raise the rate of homeownership among Saudis to 52% by the end of 2020. Demand for real estate financing in the Kingdom is expected to increase from SAR 280 billion […]
|By Arabian Post Staff| Dubai’s DIFC Courts witnessed sustained growth in the first six months of 2017, with the English-language, common law judiciary continuing to help global businesses resolve their largest and most complex disputes while becoming the increasingly preferred forum for settling the smaller claims of corporations, SMEs and individuals. The workload of the main Court of First Instance (CFI), including arbitration-related cases and counter claims, […]
|By Arabian Post Staff| SHUAA Capital, the UAE’s premier integrated financial services firm, announced it has entered into an agreement with Integrated Financial Group (IFG), towards the acquisition of Integrated Capital and Integrated Securities. The signing of the agreement follows the completion of the due-diligence process initiated in March. The strategic acquisition, which remains subject to regulatory approvals, of two of the UAE’s most active and successful financial […]
|By Arabian Posr Staff| The Abu Dhabi National Oil Company (ADNOC) and Borealis have signed a framework agreement to expand both ADNOC and Borealis downstream petrochemicals business and support the delivery of ADNOC’s integrated smart growth and partnership strategy. Under the agreement, ADNOC and Borealis will move to the pre-feed (front end engineering and design) stage for the construction of the Borouge 4 complex, which encompasses a world-scale, mixed […]
Acquisition Positions JumpStart for International Growth & Expansion of its Mobile Game Offerings for Consumers and Educational Institutions Worldwide TORRANCE, CALIF. (July 6, 2017) – NetDragon Websoft Holdings Limited (“NetDragon”; Hong Kong Stock Code: 777), a global leader in building internet communities, announced that it has acquired JumpStart, the leader in learning-based games for kids. A major player in the global online and mobile learning space, NetDragon […]
|By Arabian Post Staff| Xanadu Real Estate Development, a Dubai-based property developer, announced the delivery of nearly 200 luxury villas and townhouses with a development value exceeding Dh750 million, part of the Dh8 billion worth of projects it helped deliver with its partners over the last six years. These include 130 Townhouses at Jumeirah Village Circle, worth Dh300 million and 68 luxury villas at Jumeirah Golf Estates, […]
