Monday , 22 January 2018

Business

7th edition of the Orange Social Entrepreneur Prize in Africa and the Middle East, Prize List 2017

A new feature in this year’s 7th edition was a national phase during which each of Orange’s 17 subsidiaries in Africa and the Middle East taking part in the contest studied the projects submitted in their country and appointed local winners. Yesterday Orange (www.Orange.com) announced the winners of the 7th Orange Social Entrepreneur Prize 2017 in Africa and the Middle …

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DP World keen to explore new investment opportunities in Africa

DP World pushes ahead with its long-term strategy focusing on the continent. DP World is looking for new investment and expansion opportunities across Africa, as it pushes ahead with its long-term strategy focusing on the continent, the company’s Senior Vice President and Managing Director for the UAE Region Mohammed Al Muallem told delegates on Thursday at the fourth Global Business …

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Expo 2020 Dubai, Unido to deliver development goals

Both organisations signed a MoU to work together on some of the targets for 2030 by exploring initiatives. Expo 2020 Dubai is set to work with the United Nations Industrial Development Organisation, UNIDO, to promote entrepreneurship and investment around the world to help realise the UN’s Sustainable Development Goals, SDGs. The two organisations signed a Memorandum of Understanding, MoU, on …

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Saudi fund agrees plan to invest in Virgin space ventures

Saudi Arabia’s Public Investment Fund plans to invest about $1 billion in Richard Branson’s space company, Virgin Galactic, and sister companies The Spaceship Company and Virgin Orbit, according to a joint statement published on Thursday. “This investment will enable us to develop the next generation of satellite launches and accelerate our programme for point to point supersonic space travel,” the …

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WGES 2017: Region needs green bonds to fund renewable schemes, says bank project finance head

By: Imogen Lillywhite, ZAWYA Capital markets need to get involved in investing in green projects to meet the region’s renewable energy targets, according to a UAE banking head. Frank Beckers, head of project finance and advisory, First Abu Dhabi Bank, told delegates at the World Green Economy Summit in Dubai on Wednesday that while the region was leading the way …

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Saudi Arabia reform push targets wealth fund doubling assets

Saudi Arabia presented ambitious plans for economic and social renewal before a host of A-list global investors on Wednesday, saying its main sovereign wealth fund wants to increase its financial clout to 1.5 trillion riyals ($400 billion) by 2020. The Public Investment Fund (PIF) announced the assets-under-management goal at a conference showcasing a programme to turn the strictly conservative country …

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Future focus: What is Dubai’s Area 2071 initiative?

Area 2071, the innovation initiative which has been established with a physical presence at the foot of Dubai’s Emirates Towers building, will feature 10 different sectors, through which Dubai’s government will promote collaboration, an executive responsible for its development has said. Abdulaziz Khalid Al Jaziri, the director of Area 2071, told reporters on the sidelines of a press conference held …

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U.S. Embassy Supports Job Fairs Throughout Egypt

The Shaghlna program includes three upcoming employment fairs, sponsored by the U.S. Embassy. The U.S. Embassy is pleased to announce the launch of “Shaghlna,” a new series of job fairs for job-seekers across the country that builds on the success of employment fairs held over the past three years in Cairo. The Shaghlna program includes three upcoming employment fairs, sponsored …

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Qatar Islamic Bank Q3 profit up 10.9%, in line with forecasts

DUBAI- Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, reported a 10.9 percent jump in third-quarter net profit on Wednesday, in line with analysts’ forecasts, according to Reuters calculations. It made a net profit of 610.1 million riyals ($167.6 million) during the three months to June 30, compared with 550.1 million riyals in the same period …

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ADGM, Yes Bank collaborate to further advance FinTech opportunities

ABU DHABI- Abu Dhabi Global Market, ADGM, the International Financial Centre in Abu Dhabi, and YES BANK have signed an Memorandum of Understanding, MoU, to further foster cross-border exchange between the FinTech (Financial technology) ecosystems of the UAE and India. The collaboration will enable fintech innovators from the Middle East region and India to apply into YES FinTech programmes and …

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