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Global air cargo rates hit new high in March, says reportGlobal air cargo rates continued to rise throughout March, thanks to strong demand and rising rates from Asia and Middle East origins, taking average prices to within -7% of their elevated levels this time last year and recovering to their levels during last year’s winter peak season, a More… |
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St Gobain to buy Canadian building group Bailey for $650mSaint-Gobain, a global leader in light and sustainable construction, has announced plans to acquire Bailey Group of Companies (Bailey), a leading Canadian manufacturer of commercial metal framing and building systems, for C$880 million ($650 million), through its building materials subsidiary More… |
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ADIO in deal to support Abu Dhabi coastal developmentAbu Dhabi Investment Office (ADIO) is collaborating with Dustour Marine Wooden Boats Trading Est to establish a new state-of-the-art project to support the emirate’s coastal development in line with urban, social, recreational and economic expansion plans. The Musataha agreement More… |
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Red Sea crisis has ‘negative impact on gas ship CII ratings’Longer voyages undertaken by LNG carriers re-routed round the Cape of Good Hope to avoid the risks of the Red Sea, are having a negative impact on the ships’ carbon intensity indicator (CII) ratings. This is according to recent analysis by UK-based marin More… |
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ADCCI forms 54 new working groups within Advocacy HubThe Abu Dhabi Chamber of Commerce and Industry (ADCCI) has set up 54 working groups within the Advocacy Hub initiative, as part of the efforts to support the growth and prosperity of the private sector. This is in addition to participating in decision-making and drafting legislations that sup More… |
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Arçelik completes Whirlpool Moroccan and UAE units buyArçelik, Beko’s parent company, has acquired full ownership of Whirlpool’s Middle East and North Africa (Mena) operations. Through this acquisition, Arçelik now owns Whirlpool’s UAE and Morocco entities, and manages Whirlpool's MDA business operations in th More… |
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Turkish group Arçelik acquires Whirlpool's Mena operationsArçelik, a Turkish multinational household appliances manufacturer, has announced that it has acquired the full ownership of Whirlpool’s Morocco and Middle East and North Africa (Mena) operations, thus marking a significant milestone in its growth strategy. &nb More… |
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Abu Dhabi's private sector grows 35pc to $92.3bnAbu Dhabi’s private sector continued its strong growth, reaching AED338.9 billion ($92.3 billion), up 35% compared to 2016 as the emirate’s non-oil sector grew 9.1% in 2023 to AED610 billion to contribute 53.4% of total real GDP. Building on its ef More… |
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EDB finances record $2.83bn of industrial projects since 2021Emirates Development Bank (EDB) has financed a record AED10.4 billion ($2.83 billion) of industrial projects since the launch of its strategy in 2021, taking its cumulative impact to the nation’s industrial GDP to AED4.9 billion ($1.3 billion). More… |
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GDA adds 20th bitcoin mining site in global expansionGDA, one of the world’s leading bitcoin mining companies in terms of hash rate, today announced the latest phase of an expansion programme which places a major emphasis on the use of renewable energy in its global operations. More… |
