Tuesday , 22 May 2018
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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 Aramco gets approval to set up companies for energy industrial city

Saudi Aramco received the approval of the Saudi government to set up two new companies that will develop and operate a new Energy Industrial City in Saudi Arabia, as the kingdom seeks to expand its industrial base, state news agency SPA reported on Monday. The city will be developed over 50-square km of land in the oil producing region, SPA …

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GE Power Highlights New Era of Energy Efficiency and Productivity at Middle East and Pakistan Roadshows

GE Power kicked off a series of roadshows and meetings across the Middle East and Pakistan today to demonstrate path-breaking digital industrial solutions that are unlocking a new era of energy efficiency and flexibility, leading to significant cost savings for the power generation sector. The events will be held in Dubai, Muscat, Islamabad and other locations in the coming weeks. …

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How CFOs can lead cloud adoption

CFOs know a cloud strategy can bring out positive change in a company, by speeding up digitisation and influencing the organisation’s cost structure and financial strategy. Indeed, cloud computing is a powerful new tool for growth, lowering capital expenditure, reducing IT and business costs, and opening up new market opportunities. However, CFOs often need to convince the board and employees …

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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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Progress for Saudi women: Number of female workers surges 130% in four years

The number of Saudi women in the workforce has surged 130 percent over the past four years, recent official data showed. The figures released by the kingdom’s Ministry of Labour and Social Development in March showed that the number of Saudi female employees in the private sector increased from 215,000 in 2012 to 496,000 in 2016, Gulf News reported on …

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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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