Monday , 19 November 2018
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Tag Archives: Dubai

Alibaba Cloud to open its second data centre in Dubai next year

Company’s long-term goal is to establish cloud computing as digital foundation for new global economy Dubai – Alibaba Cloud, the cloud computing arm of Chinese e-commerce giant Alibaba Group, is set to open its second data centre in Dubai next year, a top company official said. The company opened its first new data centre in the Middle East in Dubai …

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Record spending on Expo 2020 to give a big fillip to Dubai’s economy

Infrastructure expenditure is due to rise by 46.5% in 2018, accounting for 21% of total spending. Dubai – A record spending of Dh56.6 billion envisaged in Dubai’s expansionary budget for fiscal 2018 will trigger a major jump in investment spending and provide a major boost to the economy, analysts said. The budget, allocating an increased spending to boost infrastructure efficiency, …

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Dubai Airshow: Emirates Mars mission on track for 2020 launch

Project manager Omran Sharif said the UAE expects to learn more about changes to planet’s atmosphere. The Emirates Mars Mission is on track to launch its first probe in 2020, with the programme helping to continue developing the UAE’s knowledge economy and inspiring a new generation of scientists, according to project manager Omran Sharaf. Speaking at the Dubai Airshow on …

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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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WGES 2017: Dubai’s National Bonds signs $653 mln deal to finance clean energy projects

Dubai Electricity and Water Authority (DEWA) on Tuesday signed an agreement with National Bonds to set up a 2.4 billion UAE dirham ($653.4 million) green fund at the World Green Economy Summit (WGES) that opened in Dubai today. “The fund will also be the first major green fund that will have a dedicated arm for Sharia-compliant investments,” Saeed Mohammed Al …

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New $250 million Dubai tech fund to target 15 investments

The new $250 million technology investment fund launched on Wednesday by Middle East Venture Partners (MEVP) will invest in about 15 companies, including a number of its existing portfolio companies, CEO Walid Hanna has said. Speaking to Zawya on the sidelines of the launch in Dubai, Hanna said he was “absolutely confident” of being able to source enough investible businesses. …

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Plans moving forward for the European Union’s ‘House of Europe’ in Dubai

Plans to build a commercial property in Dubai for the European Union (EU) are currently underway with a construction tender expected next year, the project’s developer, Kleindienst Group, has said. The venture, currently awaiting building permission, is designed to be a ‘wood-only’ high-rise in the United Arab Emirates (UAE). Thomson Reuters Projects reported in July last year that Dubai-based developer …

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Education financing in Dubai & Abu Dhabi

Financing of educational institutions (i.e. schools, kindergarten and to a certain extent universities) is on the rise in the UAE. Foreign educational institutions (e.g. schools, kindergarten and universities) either explore local bank funding (i.e. UAE banks) or seek the assistance of their home county banks or financial institutions to fund either establishment or expansion of such educational institutions in the …

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Dubai and Siemens agree to develop 3D printing for metro parts

Dubai’s Roads and Transport Authority (RTA) has signed an agreement with Siemens to help develop its ability to produce spare parts for the Dubai Metro using 3D printing technology. A statement by the RTA said the agreement “enhance RTA’s already applied 3D printing initiative”, as well as extending the sourcing, availability and reliability of spare parts for the metro. The …

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Dubai developer Nakheel targets growth in recurring revenue

Property developer Nakheel wants recurring income to increase to more than 50 percent of all revenue by 2021 as it opens more shopping malls in Dubai, its chairman told Reuters. Nakheel, the developer of the palm shaped islands in the emirate, expects leasable retail space to more than triple to 17 million square feet in the next three to five …

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