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Ithra Dubai announces the launch of Plot 3 of the Deira Enrichment Project

02 Sep 2020

Dubai, United Arab Emirates (UAE) - September 1st, 2020: Ithra Dubai, wholly owned by the Investment Corporation of Dubai, announces the launch of Plot 3 of Phase 1 of the Deira Enrichment Project (DEP.) Known as “Sherina Plaza,” Plot 3 has entered the close-out and handover phase, leading the way before Plots 1, 2, 11 and 12 soon to be completed within Phase 1 of DEP.

The announcement was made during a media tour of Plot 3 organized by Ithra Dubai and attended by the developer’s... Read More

Dubai-China trade posts 81% growth

13 Nov 2019

Ahmed Mahboob Musabih, Director-General of Dubai Customs, discussed means of boosting cooperation between Dubai and China with representatives of more than 20 Chinese companies headed by the Chinese Consul-General to Dubai, Li Xuhang.

The visitors were briefed on the experience of Dubai Customs in developing and sustaining customs systems and the international supply chain.

The meeting is part of the efforts of Dubai Customs to enhance cooperation and coordination with... Read More

Alibaba's online retail blitz known as Singles Day has pulled in $24 billion so far, China's biggest e-commerce company said on Monday.

11 Nov 2019

The event regularly racks up bigger sales than Black Friday and Cyber Monday combined — and with more than half a day left in the shopping extravaganza, Alibaba (BABA) appears to be on track to surpass last year's $30 billion haul.

During Singles Day pre-sales, which kicked off three weeks ago, Estée Lauder (EL) raked in a record 1 billion yuan ($143 million) in pre-orders, Alibaba said on Sunday. Alibaba users also pre-ordered 100 million yuan ($14 million) worth of Apple (AAPL)... Read More

Investcorp, China Everbright enhance collaboration for investments in Greater China technology sector

07 Nov 2019

Investcorp, the Bahrain-based alternative investment manager, and China Everbright Limited, a Hong Kong-based alternative investment firm, announced today a new milestone in their existing partnership by combining their investment teams investing in the Chinese technology sector.

The combined team and investment committee will jointly manage the China Everbright New Economy Fund I. In addition, Investcorp and China Everbright intend to explore the opportunity to establish a successor... Read More

Saudi Aramco announces intention to offer IPOs on domestic stock market

04 Nov 2019

Saudi Aramco, the world’s largest integrated oil and gas company, wholly owned by the Government of the Kingdom of Saudi Arabia, on Sunday announced its intention to proceed with an initial public offering (IPO) on Riyadh's Tadawul Stock Exchange.

The Government intends to sell a portion of its shares in Saudi Aramco, said a press release issued by the company on Sunday.

The Kingdom's Capital Market Authority, CMA, approved the company’s application for the initial public... Read More

Millennium & Copthorne Makkah Al Naseem collaborate SCTH

31 Oct 2019

Aligning with the Saudi Vision 2030 and aspirations to develop leadership skills for employees and young students, SCTH “Saudi Commission for Tourism and National Heritage visited Copthorne & Millennium Makkah Al Naseem on 13th October to activate its initiative “Ektashef ElMehan Fi ElAnshitah ElSeyahyia”, in Arabic “Discover Professions in Tourism”.

Aimed at exploring leadership skills and rehabilitating them through specialized training programs, the session has took place in... Read More

The 10th edition Women in Leadership Economic Forum Kicks off

28 Oct 2019

The 10th Anniversary Edition of the Women in Leadership (WIL) Economic Forum by Naseba opened today at the Address Sky View Hotel in Dubai under the theme, ‘Daring to Build a Better Future’. The 2-day forum is the largest female economic empowerment platform in the Middle East and brings together leading regional and international organisations such as Siemens, Facebook, Allergan, FedEx, Philip Morris, PWC, General Motors and Emaar Hospitality to share their success stories on gender parity... Read More

Dubai Economy Holds steady in Q2 2019 According to Consumer Confidence Index

27 Oct 2019

Consumers in Dubai remain upbeat on the overall economy in the emirate and their personal finances with optimism largely stemming from anticipated improvement across tourism, trading and employment.

Nationals as well as expatriates shared a bright outlook in the quarterly consumer confidence survey of Dubai Economy and the overall Consumer Confidence Index stood at 139 points in the second quarter of 2019, a marginal decline of one point over the previous quarter, as 87 percent of the... Read More

DAFZA contributes 12% to Dubai’s foreign trade in first half of 2019

16 Oct 2019

(WAM) Dubai Airport Freezone Authority, DAFZA, has further established itself as a global facilitator for business growth and prosperity and a vital engine for Dubai's economy following the announcement of its half year results for 2019.

DAFZA's contribution to Dubai's foreign trade reached 12 percent in the first half of the year, confirming the success of its plans to enhance its role in Dubai and to establish its presence amongst the free zones as one of the most developed,... Read More

Russia keen on filling UAE’s food import demand, say experts

13 Oct 2019

(WAM) -- Russia is looking to increase its agricultural exports to the UAE, in a bid to take advantage of the UAE’s highly receptive and rapidly growing market for food products, say Emirati and Russian trade officials.

Over the past few years, Russia has made several steps towards enhancing its business presence in the UAE in this sector and others with the opening of a Trade Representative office at the Russian Embassy in Abu Dhabi in 2017, and the inauguration of the Russian Food... Read More