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Business

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Business
January 9, 2023

ABU DHABI, 9th January, 2023 (WAM) -- The UAE’s first marine bridge, once operational, will connect Abu Dhabi’s Khalifa Port to the emirate’s mainland, with trains carrying freight from the port’s large container facility to key centres across the country and beyond, commented a local newspaper. “It is little more than a few hundred metres long, but its impact is soon likely to be felt across the Gulf region, spanning thousands of kilometres,” The National said in an editorial on Monday. The...

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Business
January 9, 2023

RAKBANK today announced that it has partnered with global AI Cloud leader, DataRobot and local AI service provider e&enterprise, to build and deploy industry leading AI platform to accelerate its artificial intelligence and machine learning- driven analytics.  As RAKBANK progresses its strategic ambition to meet the rapidly evolving customer needs through harnessing the power of data and analytics, a leading AI platform will be an important enabler. DataRobot, with its proprietary approach to MLOps and proven track record serving the majority...

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Business
January 9, 2023

Dubai, UAE, 24 November 2022: Mashreq Bank, one of the leading financial institutions in the UAE, has signed a strategic partnership with Bank Al Habib Pakistan to offer free remittance transfers from the UAE to Pakistan. The collaboration will support Mashreq’s faster cross border payment product, QuickRemit, which was originally launched in 2017. Customers using the application will not be charged remittance fees when sending money to Pakistan.Mashreq customers can also enjoy unprecedented benefits and significant cost savings, while sending instant money...

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Business
January 9, 2023

Abu Dhabi National Energy Company (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) announced today the successful completion of the Masdar transaction, following which they will all become shareholders in Abu Dhabi Future Energy Company (Masdar) – Abu Dhabi’s flagship clean energy company. This transaction – first announced in December last year by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates – sees three Abu Dhabi champions combining their efforts to...

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January 7, 2023

Aldar and Diamond Developers combine to offer customers a uniquely sustainable experience in Abu Dhabi A live, work, and thrive destination with ample green open spaces, leisurely walkways, and community farming plots 512 residential units available to purchase in the first phase of the project Abu Dhabi, UAE – 6 January 2023: Aldar Properties (‘Aldar’) in partnership with Diamond Developers has launched The Sustainable City – Yas Island, a sustainability-centric community offering a new way of life for residents in Abu Dhabi. The family...

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Business
January 7, 2023

DUBAI, 6th January, 2023 (WAM) -- A total of 2,173 real estate transactions worth over AED 10 billion were conducted during the week ending 6 January 2023, according to figures released by the Dubai Land Department (DLD).A total of 270 plots were sold for AED 2.25 billion, 1,903 apartments and villas were sold for AED 4.89 billion.The top three transactions were a land in Marsa Dubai sold for AED 623.07 million, followed by a land that was sold for AED...

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Business
January 7, 2023

ABU DHABI, 6th January, 2023 (WAM) – The market cap of Arab stock exchanges exceeded $4 trillion by the end of 2022, according to the Arab Monetary Fund (AMF).In a press statement today, the AMF said that the market value of the Abu Dhabi Securities Exchange reached $714.6 billion in the reference year, while that of Dubai Financial Market was valued at $158.4 billion.The market value of the Saudi Stock Exchange was $2.63 trillion; while that of the Qatar Stock...

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