DUBAI: Hit by sanctions curbing oil sales, Iran’s economy is set to fall deeper into recession this fiscal year and foreign reserves could drop to $73 billion by March, a loss of almost $40 billion in two years, the Institute of International Finance said. The economy shrank by 4.6% in the 2018-2019 fiscal year and […]
Abu Dhabi: Masdar, a subsidiary of Mubadala Investment Company on Wednesday said it is launching the UAE’s first green sustainable real estate investment trust (REIT) at a valuation reaching between Dh950 million and Dh1 billion. Launched at the Abu Dhabi Sustainability Week, REIT will be located at Abu Dhabi Global Market (ADGM) and will initially […]
NEW DELHI: India is planning a new law to safeguard foreign investment by speeding up dispute resolution, aiming to attract more capital from overseas to boost stuttering domestic growth, two officials with direct knowledge of the matter told Reuters. In a 40-page initial draft, India’s finance ministry has proposed appointing a mediator and setting up […]
Thank you for your reading and interest in the news Photos: Jafza, from a vision to largest freezone and now with details. Aden – Yasmin Abdel Azim …
Did you know that JAFZA is also home to several thousands of blue-collared workers in the freezone. Worker accommodations are available within …
Dubai: JPMorgan has initiated coverage of Saudi Aramco’s shares with an “overweight” rating and a price target of 37 riyals ($9.86) per share, saying it sees scope for the company to increase its proposed $75 billion base dividend. JPMorgan was a joint global coordinator on Aramco’s public share sale in December, which raised a record […]
Abu Dhabi: Masdar on Wednesday signed a power purchase agreement with Perusahaan Listrik Negara (PLN), the state electricity company in Indonesia, to develop the first floating solar photovoltaic (PV) plant in the country. Dr Sultan Bin Ahmad Al Jaber, UAE Minister of State and chairman of Masdar, and Zulkifli Zaini, president director, PLN, formally exchanged […]
Kuwait City: Kuwait unveiled budget proposals that forecast its biggest-ever deficit for the year starting April 1, outlining fiscal plans that include a drop of more than 6 per cent in revenue while keeping spending unchanged. The deficit is projected at 9.2 billion dinars ($30.3 billion, Dh111.21 billion), above the current year’s estimate of 8.3 […]
Abu Dhabi: Adnoc on Wednesday laid out its sustainability strategy in a keynote address by Ahmed Jasim Al Zaabi, chief financial officer Adnoc, who spoke at the second Abu Dhabi Sustainable Finance Forum. “Building on fifty years of responsible production, Adnoc will continue to prioritise sustainability and make significant investments in new and innovative technologies […]
The cyclist sustained minor injuries as a result of the accident.