Saturday , 17 November 2018

Tag Archives: Featured

China State to help revive stalled Dubai Motor City project

Union Properties has signed a memorandum of understanding (MoU) with China State Construction Engineering Corporation (CSCEC) to expedite the build-out of its revived Motor City project. The companies signed an agreement at Dubai Cityscape Global real estate exhibition to build out the whole of the project. This will cost 8 billion dirhams $2.2 billion) and will be completed within four …

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The MIT Enterprise Forum (MITEF) for the Pan Arab Launches the Second Edition of Innovate for Refugees

Promoting a culture of entrepreneurship to find innovative technology solutions for refugee challenges The MIT Enterprise Forum (MITEF) for the Pan Arab announced the launch of the second edition of Innovate for Refugees. The MIT Enterprise Forum inaugurated the registration process of the competition on the 21st of August to extend till the 27th of November, 2017, after which the …

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Sharjah to develop $816mln pedestrian-friendly community

Alef Group, a key UAE-based real estate company, is set to develop a new pedestrian-friendly residential community, ‘Al Mamsha’ at an estimated cost of Dh3 billion ($816 million) in Al Juraina area of Sharjah. Al Juraina area is in close proximity to Sharjah University City and Sharjah International Airport, about 15-20 minutes drive from Sharjah city centre and 20-30 minutes …

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Saudi reform tweaks won’t affect key economic policies

Saudi Arabia is revising parts of an economic development plan released a year ago but key policies, including fiscal reforms and a massive privatisation programme, won’t be affected by the review, sources familiar with the matter told Reuters. In June 2016, the government published a National Transformation Programme (NTP) that included hundreds of steps to modernise the economy and society, …

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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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China’s Legend strikes $1.8bln deal to buy Luxembourg’s BIL bank from Qatari investors

China’s Legend Holdings struck a deal on Friday to buy a 90 percent stake in Banque Internationale a Luxembourg (BIL) from Qatar’s royal family for 1.48 billion euros ($1.76 billion), marking its biggest overseas acquisition. Legend, owner of computer group Lenovo Group Ltd , is acquiring 161-year-old BIL from Precision Capital, an investment vehicle of Qatar royal family members including …

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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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China’s ICBC in talks with Gulf governments, firms on yuan bonds

Industrial and Commercial Bank of China is talking to governments and state-linked entities in the Gulf that are interested in issuing yuan-denominated bonds in China, said an executive at ICBC, China’s largest bank. One government entity is in the process of applying to issue such instruments, known as panda bonds, which would make it the first issuer from the Middle …

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Minister of Foreign Affairs of Egypt to visit the Republic of Belarus

On August 27 — 28, 2017 the Minister of Foreign Affairs of the Arab Republic of Egypt, Sameh Shoukri, will pay a visit to the Republic of Belarus. It is the first visit to Belarus of the Head of the Foreign Ministry of Egypt in the course of the history of bilateral relations. The program of the visit includes a …

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U.S., Ministry of Education honor STEM high school graduates

These students are the third cohort to graduate from Egypt’s STEM high schools, launched by the Ministry of Education in 2012 with support from the United States through the U.S. Agency for International Development (USAID) The U.S. government, working in cooperation with the Egyptian Ministry of Education, answered President Sisi’s recent call for a greater focus on science and technology …

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