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ABU DHABI’S INITIATIVES TO FAST-TRACK NON-OIL GROWTH

With the launch of a series of initiatives to support growth in the non-oil sector, Abu Dhabi is reinforcing its efforts to diversify the economy away from hydrocarbons. In late June the Abu Dhabi government announced it had created a Dh4bn ($1.1bn) fund to boost research and development (R&D) in the emirate. The fund will provide rebates to companies that invest in R&D and launch new business ventures, with the aim of incentivising greater levels of innovation. This will be accompanied by measures designed to support business growth, such as the implementation of energy discounts for industrial …

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WORLD ENERGY CONGRESS IN ABU DHABI TO ATTRACT THOUSANDS OF VISITORS

Energy output, supply and diversification from oil and gas to renewables and nuclear, transport and finance will be the main focus of discussion at the world biggest energy meeting to be held in the UAE capital next month. More than 500 CEOs from across the world will among the 4,000 delegates to participate in the 24th World Energy Congress scheduled to take place from September 9-12 at Abu Dhabi National Exhibition Centre (ADNEC). The World Energy Congress, which will be hosted in the Middle East for the first time, is the world’s largest and most …

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UAE DEFINES INDUSTRY SECTORS ELIGIBLE FOR UP TO 100%

Companies and residents on Tuesday welcomed the UAE Cabinet’s announcement of business activities eligible for up to 100 per cent foreign ownership under a law ratified last November, as the country seeks to increase investment from overseas and create jobs for nationals. The list of 122 economic activities across 13 sectors includes renewable energy, space, agriculture, manufacturing, transport, logistics, hospitality, food services, information and communications, and a host of others, according to the UAE state news agency Wam. “Our goal is to open and expand economic sectors, attract new investors and cement the global competitiveness of our national …

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ABU DHABI’S GDP TO GROW AT 3% THIS YEAR ON POLICY BOOST

Abu Dhabi: Abu Dhabi’s overall GDP (gross domestic product) in 2019 is expected to grow by 3 per cent at constant prices with non-oil growth projected at 3.9 per cent, a top official of Abu Dhabi’s Department of Economic Development told Gulf News. “Abu Dhabi’s economy showed further improvement by the end of 2018, growth has strengthened somewhat as a result of policies taken by the government to boost economic growth. Our forecasting show that this improvement will continue in 2019,” said Rashed Abdul Karim Al Beloushi, undersecretary of the Abu Dhabi Department of Economic …

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ICONIC BUILDINGS IN DUBAI: MORE THAN JUST LANDMARKS

Dubai’s remarkable built environment, infrastructure and iconic buildings have shaped the city’s skyline and made it attractive for global visitors, professionals and the city’s residents alike. The city’s forward-thinking and ambitious plans have encouraged architects to push the boundaries of creativity and innovation in making this place a world-class city to live and work. Firas Hnoosh, principal and design director of architecture at Perkins+Will Dubai Studio, believes the city’s ambition and economic success have been the driving force behind its unique developments. “Dubai offers architects a great deal of freedom to realise new forms of …

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DUBAI & RIAD NUOVE CAPITALI DEL BUSINESS

EFG Consulting ha supportato AMBIENTHESIS SpA  del Gruppo Green Holding, prima azienda privata italiana per dimensioni e fatturato nel settore dell’Industrial waste management e delle bonifiche ambientali, quotata all’MTA della Borsa di Milano a selezionare e accordarsi con un partner industriale negli Emirati; la Bee’ah, di proprietà della municipalità di Sharjah e della famiglia reale dell’Emirato, che rappresenta la principale azienda del settore negli EAU ed una delle prime in tutto il Middle East. A giugno 2018 è stato firmato un primo memorandum of understanding alla presenza dell’Ambasciatore italiano Liborio Stellino. In settembre 2018 é stata costituita …

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PROJECTS TO CONTINUE BUILDING DUBAI AS THE WORLD’S BEST CITY

We approved a package of developmental projects to continue building Dubai as the world’s best city. The SkyWay project, a 15-Kilometer urban transit system, will transport passengers along Dubai’s skyscrapers trough 21 stations. We launched “Sunset Promenade” project, a new family destination that includes small innovative islands, walkways, green hills, water canals and entertainment facilities. The project will raise the quality of life and achieve happiness to residents in the city. We also launched the Sky Garden project that comprises a new footbridge with green spaces, jogging tracks and bicycle lanes. We partnered with Careem …

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SULTAN AL QASIMI UNVEILS SHARJAH WORLD BOOK CAPITAL 2019 MONUMENT AND “HOUSE OF WISDOM” PROJECT

His Highness Shaikh Dr. Sultan bin Mohammad Al Qasimi unveiled the Sharjah World Book Capital 2019 Monument yesterday. Developed by Sharjah Investment and Development Authority (Shurooq) and commissioned by  the Internationally acclaimed UK-based artist, Gerry Judah, the 36.5 meters high sculpture is inspired by an ancient scroll design that represented the lasting power of books and how reading shares a strong purpose of uniting people together. Shaped like a torch, the monument highlights Sharjah’s ongoing efforts aimed at fostering reading and stressing the important role of books in further intellectuality and enlightenment. Shurooq started developing the monument after the World Book Capital’s …

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DUBAI TARGETS 3.8% GDP GROWTH IN EXPO 2020 YEAR

Dubai: Dubai is targeting inflation-adjusted growth of 2.1 per cent this year and followed up by 3.8 per cent in the next, on the back of Expo 2020 activities and improved foreign investment inflows. In fact, for next year, the government forecasts foreign investments to touch Dh50 billion from a 15-20 per cent gain over this year. The inflow was Dh38.5 billion in 2018. Growth is then expected to ease to 2.8 per cent in 2021, a natural outcome following the one-off spike the economy will get through the better part of 2020. The emirate’s economy …

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UAE INVITES ITALIAN FIRMS TO PARTNER WITH ITS PRIVATE SECTOR IN BID FOR FDI BOOST

The UAE is inviting Italian oil and gas, technology, renewable energy and infrastructure companies to partner with its private sector as it seeks to further boost foreign direct investments flows, Economy Minister said. “Our FDI law provides a wide range of opportunities,” Sultan Al Mansouri told the Italy-UAE Business Forum in Dubai on Monday. “All of these are priority sectors for the UAE government and the private sector. Given many opportunities of mutual investments, I would like to invite Italian companies to benefit from the UAE as a regional and global hub [of investments].” The UAE, the second-biggest …

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