Monthly Archives

July 2021

Sheikh Mansour to chair Emirates Racing Authority board

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved a decision to form the Board of Directors of the Emirates Racing Authority (ERA), chaired by H.H. Sheikh Mansour bin Zayed Al…

Masdar wins bid to build $174 million solar project in Armenia

Masdar (Abu Dhabi Future Energy Company) has won a tender to build a US$174 million utility-scale solar project in Armenia. The Armenian Government had implemented an international tender following Masdar’s initial offer of $0,0299/kWh in…

Luxury e-commerce startup a channel for unsold inventory


MENA Newswire: Luxury e-commerce startup ShopWorn is on track to hit $20 million in sales by year end. Initially fueled by the revenge shopping spree begun by Chinese consumers, leading ShopWorn to open a Hong Kong…

UAE, Austria to amend agreement to avoid double taxation

As part of its endeavors to strengthen cooperation frameworks in tax matters, protect taxpayers from double taxation, and avoid impeding the flow of trade and investment, the Ministry of Finance (MoF) signed a protocol to amend the…

US-based syncreon acquired by DP World for $1.2 billion

DP World has announced the acquisition of 100 percent of syncreon for an enterprise value of US$1.2 billion. This transaction is subject to customary completion conditions and is expected to close in second half of 2021.Syncreon is a US…

International tourist arrivals down by one billion in 2020

The impact of the COVID-19 pandemic on tourism could result in a more than $4 trillion loss to the global economy, UN trade and development body UNCTAD said on Wednesday in a report issued jointly with the UN World Tourism Organization…

Sheikh Theyab bin Mohamed inaugurates track-laying works

His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Crown Prince's Court and Chairman of Etihad Rail, has inaugurated track-laying works at the Seih Shuaib site, which is the centre point for track-laying…