finance & economy

July 15, 2020

IO21, a new innovative company aimed at providing technological solutions to address people’s needs, has launched its operations in Dubai.

With the focus on assisting businesses, entrepreneurs and individuals to transfer their ideas into usable technology, it strives to develop new innovations that can increase quality of life.

IO21 is co-founded by Hailey Yoon, 24, who serves as the Chief Technology Officer to lead the company’s long-term technology vision, and who is responsible for building new software products such as artificial intelligence, mobile applications and other software products.

Born in South Korea and educated in the US, Yoon moved to the UAE at the"...

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July 15, 2020

UMM AL QAIWAIN, 14th July, 2020 (WAM) -- A new water desalination station in Umm Al Qaiwain will start production by the end of 2021, with a capacity of 50 million gallons per day, Federal Electricity and Water Authority, FEWA, announced on Tuesday.

FEWA said the project’s full capacity upon the completion of all its phases will amount to 150 million gallons per day.

This statement was made by Mohammad Mohammad Saleh, Director-General of the FEWA, during his visit today to the site, which will be the largest of its kind in the country operating on reverse osmosis"...

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July 15, 2020

LONDON, 14th July, 2020 (WAM) -- The UAE Embassy in London, in cooperation with the Ministry of Economy, has discussed cooperation and investment opportunities with the Government of Jersey via webinar.

The Jersey delegation was headed by Senator Ian Gorst, Minister for External Relations, while the UAE delegation was chaired by Mansour Abdullah Belhoul, UAE Ambassador to the UK.

In his remarks, Belhoul explained the precautionary measures taken by the UAE since the start of the COVID-19 pandemic and its actions to boost the economy, as well as the new structure of"...

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July 15, 2020

ABU DHABI, 14th July, 2020 (WAM) -- The Abu Dhabi Department of Economic Development (ADDED) has issued a new resolution regulating the practice of economic activities in the emirate.

The resolution covers key activities, such as commercial, industrial, occupational, professional, agricultural, and related services that are legally allowed and licensed to be practiced in Abu Dhabi's economic sector.

Rashed Abdul Karim Al Balooshi, Undersecretary of ADDED, explained that the resolution was issued in line with the department's commitment towards regulating all"...

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July 15, 2020

ABU DHABI, 14th July, 2020 (WAM) -- Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, is pleased to announce that it has been awarded ‘Jurisdiction that has made great progress’ by the GAR Awards 2020. GAR is the leading resource on international arbitration news and community intelligence. Each year the GAR Awards recognise leaders in the global arbitration community for their contribution to the industry. Having only opened as an International Financial Centre (IFC) in 2015, then launching the ADGM Arbitration Centre (ADGMAC) in late 2018, ADGM has made a significant impact on the arbitration community in a short space of time.

The"...

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July 14, 2020

Project Management Institute (PMI) today announced its first annual Future 50 list, which features the 50 next generation leaders that are creating, building, and transforming the world through notable projects. The 50 young standout project leaders highlighted in the specially dedicated July/August issue of PM Network® magazine represent the wave of change and talent around the globe—a youthquake that will reshape the future and"...

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July 14, 2020

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced the appointment of Gerard Brossard to the newly created role of executive vice president and chief operating officer (COO). Brossard is responsible for Rimini Street’s global field operations and the global sales and success of the Company’s Support and Application Management Services for Oracle and SAP products. Brossard reports directly to Rimini Street CEO, Seth A. Ravin. New COO Brings Proven Capabilities to Support Accelerating Company Growth Prior to joining Rimini Street, Brossard served as executive vice president and general manager of Rackspace’s Global Solutions and Services group, where he had P&L responsibility for all products, solutions and services. Previously he was the executive vice president and managing director for Enterprise and Mid-Market at Earthlink, where he had P&L responsibility for the $400 million business unit. Earlier in his career, Mr. Brossard spent 24 years with Hewlett-Packard where he held various executive positions in France and the United States. His last roles at HP were as head of Strategy, Planning and Operations for HP’s $3 billion software business and general manager and CEO of Rich Media Management Software and Solutions. “The......

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July 14, 2020

Western Union (NYSE: WU), a leader in cross-border, cross-currency money movement, and Techstars, the global platform for investment and innovation, today announced the launch of its second class of the Techstars & Western Union Accelerator. From machine learning and artificial intelligence, to cloud services, digital banking and advanced analytics, the common thread across the portfolio of 10 companies is their commitment to leveraging technology and innovation to create greater access to global and local economies, through inclusive finance. The 2020 Accelerator companies are led by founders originating from across the world, including the Philippines, Egypt, Gambia, Hong Kong, Indonesia, India, Israel, Nigeria, Singapore, Spain, South Africa and the United States. They share Western Union’s commitment to inclusive innovation by developing products and services that accelerate access for a more equitable global financial system. The concept of financial access served as the North Star throughout the 2020 Accelerator selection process, as program leaders contemplated the question: In the face of a global health crisis, which companies are best positioned to accelerate and expand financial access in a post-COVID world? The startup founders will participate in an intensive 13-week virtual program during which they will focus on growing and evolving their companies with the mentorship, entrepreneurial expertise,......

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July 14, 2020

Munch, the new mobile application launched in the UAE, will transform the food delivery industry, by partnering with restaurants for delivery on a fair commission basis. Munch gives restauranteurs complete control of their brand and customer experience with a pricing model set at a low commission, and fixed rates for any merchant not already having in-house delivery personnel.

Commenting on the launch, Chris Daniels, General Manager of Munch, said the introduction of Munch is an incredibly exciting moment for the UAE restaurant industry. Our expertise and innovation ensure both restaurateurs and customers experience the best price, selection"...

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July 14, 2020

Companies from the Channel Island of Jersey should look to partner with the UAE and its business-friendly environment as the world begins to emerge slowly from months of lockdown over the Covid-19 pandemic, finance experts from Abu Dhabi and Dubai said.

Speaking at a webinar on Monday dedicated to exploring growth opportunities between Emirati and Jersey officials and business leaders, it was pointed out that the UAE had not only become a crucial access point for opportunities in the Middle East, but also Africa and South Asia.

A self-governing British dependency near"...

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