48 Middle East and North Africa IPOs raise $10.7bn in 2023: Report
Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the...Business Economy
ADQ of Abu Dhabi to buy majority stake in Unifrutti Group
ADQ, Abu Dhabi wealth fund, will buy a majority stake in Unifrutti Group, a fruit and vegetable producer, marketer, and...The acquisition is designed to secure food supply amid pandemic and geopolitical tensions
The investment will help the group expand its footprint globally, along with enhancing food security in the UAE
Iran reacts with fury over imposition of new US sanctions
Iran criticized the United States for imposing new sanctions on the Islamic republic, saying it shows the Americans harbor bad...The US Treasury announced on Wednesday the measures targeting several entities it accused of involvement in procuring supplies for Iran's ballistic missile program
The Islamic Revolutionary Guard Corps (IRGC) meanwhile said Iran's "missile prowess" and regional influence are "red lines" ,according to a statement posted on its website
ADEX, Korea Eximbank to collaborate on export financing
The two sides discussed co-financing solutions for Korean organisations seeking to import goods and services from the UAE.The two sides discussed co-financing solutions for Korean organisations seeking to import goods and services from the UAE
ADEX was established by Abu Dhabi Fund for Development (ADFD), to drive diversification and growth of the UAE export economy
UAE, Jordan discuss accelerating investments post-Expo 2020
At the meeting, the two sides called for intensifying visits by trade delegations from both countries and increasing the number...The two sides believe the momentum from Expo 2020 will apparently continue in the fields of agricultural and food trade
They also see it in the pharmaceuticals and furniture industry, and the proliferation of fairs and exhibitions around the world
Abu Dhabi Police ban heavy vehicles during peak hours in Ramadan
The decision is said to have been taken in cooperation with Abu Dhabi Police's strategic partners.Heavy-duty trucks, lorries, and buses carrying more than 50 passengers would be banned on Abu Dhabi and Al Ain roads
During Ramadan, such vehicles would not be allowed on the roads between 8 am and 10 am, and from 2 pm to 4 pm
FB bug pushed problematic posts
FB said the bug affected ‘only a very small number of views’ of content.The bug was serious enough for a group of Facebook employees to draft an internal report referring to a ‘massive ranking failure’ of content, reports said
In October, the employees noticed that some content which had been marked as questionable was nevertheless being favored by the algorithm
Abu Dhabi Chamber and San Marino to boost trade cooperation
Abu Dhabi and San Marino will explore new avenues of economic cooperation and boosting trade. Saeed Ghumran Al Remeithi, Deputy...Saeed Ghumran Al Remeithi, Deputy Treasurer of Abu Dhabi Chamber, met with Fabio Righi, San Marino’s Minister of Industry.
Remeithi noted Chamber's readiness to provide all the necessary support to investors and entrepreneurs from San Marino.
Dubai food trade grew 11 percent to $15.51 billion in 2021
Dubai Customs said Thursday the emirate’s external foodstuff trade in 2021 grew 11 percent to reach AED57 billion ($15.51 billion),...Exports grew 11.3 percent to AED10.8 billion from AED9.7 billion in 2020, while re-exports went up by 10 percent to AED 7.9 billion from AED 7.2 billion.
In terms of volume, Dubai traded 14.1 million tons of foodstuff in 2021, which included 9.9 million tons of imports, 3 million tons of exports, and 1.1 million tons of re-exports.
ADNEC’s hall 40 percent complete
It would be the biggest exhibition hall in the MENA region.The hall is scheduled to open in October 2022 and is part of the expansion plans for the Centre to bolster ADNEC’s competitiveness.
The first-of-its-kind hall is being built on a space of 1,000 square meters in the Marina area opposite the Abu Dhabi National Exhibition Centre.
Alba, EGA sign MoU
Aluminum Bahrain (Alba) is looking to increase its throughput.The two Aluminum producers will cooperate to creep production at Alba’s Potline 6 beyond its name plate design capacity.
They will also explore ways to use EGA technology and expertise in future expansions at Alba smelter.
