Kizad top of the menu for food firms

Food is big business in the UAE. It constitutes the country’s second-largest sector, with the UAE acting as a re-export hub for food products across the entire MENA market. The estimated value of the UAE’s food product imports is $100 billion (Dh367.25 billion), according to the Ministry of Economy. This is likely to only get […]

SoftBank invests in Mubadala’s new $400 mln European tech fund -source

DUBAI: Japan’s SoftBank Group has provided nearly half of the cash for Abu Dhabi’s state investor Mubadala Investment Co’s new $400 million (Dh1.47 billion) fund investing in European start-ups, a source familiar with the matter said. Mubadala, which has committed to invest $15 billion in SoftBank’s Vision Fund, last week announced that Mubadala Ventures was […]

India’s RBI may impose penalty on Yes Bank

New Delhi: The Reserve Bank of India (RBI) may impose monetary penalty on Yes Bank for breaching the confidentiality norms of its communications exchange with the private bank which the central bank is said to be treating as a market-related information slip aimed at boosting the stock. Sources said this calls for penalty as in […]