Saturday 30 May 2020

Dubai SME allocates $5.45m for SMEs through Beehive partnership

Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, has allocated AED 20 million ($5.45 million) for the capital guarantee scheme launched by its financial arm, The Mohammed Bin Rashid Fund (The Fund), in partnership with Beehive, the first


Omani Ports post positive results

A high rise in number of handling, cargo and export operations marked the performance of Omani ports in the first quarter of 2020.    This is at a time direct import from global destinations also saw a boost, thanks to tremendous efforts exerted by Asyad Gr


MHPS captures global gas turbine market share leadership again

Mitsubishi Hitachi Power Systems (MHPS) ranks first in market share by megawatts for gas turbine orders in 2020 according to data obtained from McCoy Power Reports.    First quarter global orders of 2,638 MW brought MHPS’ market share to 28.5% globall


Abu Dhabi ADQ launches new $299m venture fund at ADGM

ADQ, one of the region’s largest holding companies with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s non-oil economy, has launched Alpha Wave Incubation (AWI), a new Dh1.1 billion ($299 million) venture fund located at Abu Dhabi Global Market (ADGM)


Caparol Arabia supports Covid-19 workers with its CapaCare Protect

Caparol Arabia, the leading manufacturer of German-quality paint solutions in the UAE, has announced it will be prioritising healthcare facilities and their staff with the first supplies of new CapaCare Protect, an innovative paint product that helps to fight microbes.  &nbs


UAE banks provide $24.43bn loans to SMEs

Emirati banks provided a total of AED93.4 billion ($25.43 billion) loans to small and medium-sized enterprises (SMEs) in the first quarter of 2020, an increase of AED3.9 billion or 4.3 percent compared to AED89.5 billion in the fourth quarter of 2019, a report said.  


GAL signs strategic partnership deal with Etihad Airways

Global Aerospace Logistics (GAL) has signed an agreement with Etihad Airways to support local jobs and training – enabling Etihad staff to be seconded to GAL.   GAL is a leading regional provider of integrated aviation readiness solutions for military and


Airbus opens A220 production facility in US

Airbus has stepped up its US production capabilities with inauguration of the completed A220 commercial aircraft final assembly line (FAL) in Mobile in the state of Alabama. This 270,000-sq-ft – which can produce both the A220-100 and A220-300 versions – houses five p


UAE develops rapid coronavirus laser testing tech

UAE-based QuantLase Imaging Lab, the medical-research arm of International Holdings Company (IHC) has developed novel equipment which enables faster mass screenings, with test results available in seconds and allowing testing on a wider scale. The technology will reinforce the UA


Mubadala, Honeywell join to make N95 respirators at Al Ain unit

Mubadala Investment Company, the Abu Dhabi-based sovereign investor, today announced a strategic collaboration between its wholly owned subsidiary, Strata Manufacturing, and Honeywell, to produce N95 respirators at Strata’s Al Ain facility.    The new

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