Thursday , 17 August 2017
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Emirates and flydubai join forces, announce extensive partnership agreement

Passenger benefits to include access to over 200 unique destinations, seamless travel experience and frequent flyer programmes alignment Partnership includes an expansive codeshare agreement, schedule alignment and network optimisation Passenger benefits to include access to over 200 unique destinations, seamless travel experience and frequent flyer programmes alignment Both airlines to continue being managed independently Emirates and flydubai (www.flydubai.com) today unveiled …

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AfDB, Islamic Development Bank sign new $2b deal to fund energy, SMEs, human development programs

The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen partnership at country level. Both parties have agreed to jointly pull together the sum of US $2 billion over the next three years to finance projects in agriculture and food security, renewable energy, small and medium enterprises, and human development (health and …

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Saudi Arabia to host 2020 G20 summit

Jeddah – Saudi Arabia will host the G-20 Summit in 2020, said an official statement issued on Saturday at the end of this year’s event in Hamburg, Germany. “We thank Germany for hosting a successful Hamburg summit, and look forward to meeting again in Argentina in 2018, in Japan in 2019 and in Saudi Arabia in 2020,” AFP quoted the …

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Arabtec Construction awarded main contract to build UAE Pavilion at Expo 2020 Dubai

The National Media Council, the government entity responsible for building and operating the UAE Pavilion at Expo 2020 Dubai, has announced that Arabtec Construction, a wholly owned subsidiary of Arabtec Holding, has been awarded the main contract to build the national pavilion. Arabtec Construction squared off against three local and international companies in the final round with nine companies bidding …

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Abu Dhabi Global Market and China’s Qianhai Authority partner to promote investment and FinTech cooperation

The Financial Services Regulatory Authority, FSRA, of Abu Dhabi Global Market, ADGM, and the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, Qianhai Authority, have entered into a new partnership to develop and promote closer investment and financial innovation opportunities and collaborations for enterprises in Qianhai, Hong Kong and Abu Dhabi. In support of China’s One Belt One …

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Etihad hub Abu Dhabi International Airport sees slower passenger growth this year

Etihad Airways’ hub Abu Dhabi International Airport expects a slowdown in the pace of passenger growth this year, the acting chief executive of operator Abu Dhabi Airports said on Monday. The United Arab Emirates’ second busiest commercial airport expects to handle “around 25 million” passengers in 2017 compared with 24.5 million in the previous year, Abdul Majeed al-Khoori told Reuters …

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Soft-landed UAE economy poised for a convincing comeback

Dubai: The UAE’s economic growth which faced strong headwinds following prolonged low oil prices and slump in international trade has managed a soft landing, with a less pronounced cycle than in 2008 according to According to Bank of America Merrill Lynch. Analysts expect a convincing a turnaround from 2018, according to recent economic forecasts. “We expect non-oil real GDP growth …

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IPO surge: Saudi SMEs help 2017 hit a five-year high

The first quarter of 2017 saw 10 new initial public offerings (IPOs) registered on the stock markets among the six members of the Gulf Cooperation Council (GCC), a five-year record high and propelled by Saudi Arabian small and medium-sized businesses, according to a press release issued by consultancy firm PwC. IPO news in the region is important, as Saudi Arabia, …

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Bahrain-based GIB gains retail banking licence for digital venture

Gulf International Bank (GIB) said on Wednesday it had been granted a retail banking licence in Bahrain by the kingdom’s central bank for its digital venture called Meem. GIB is licenced by Bahrain’s central bank, headquartered in Bahrain and owned by the governments of the six Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund the principle shareholder with …

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Middle East millennials work harder, driven by desire to make positive impact: Study

Millennial business owners in the Middle East are more likely to be driven by the desire to increase their influence and have a positive impact on others than the overall average for entrepreneurs globally, according to a new study by HSBC Private Bank. The bank’s second Essence of Enterprise report, launched recently, researched the views of over 4,000 entrepreneurs globally …

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