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The UAE has joined as new member the New Development Bank (NDB), founded by BRICS states, namely Brazil, Russia, India China and South Africa, the bank said in a statement relayed by Zawya. “We warmly welcome the UAE into the Read more
Abu Dhabi sovereign wealth fund Mubadala has joined US real estate developer Crow Holdings in creating a joint venture to build or acquire $1 billion of industrial properties across the US, reports say. The Dallas-based firm is a leading national Read more
Saudi and Riyadh-headquartered storage and delivery startup Diggipacks has acquired shares in its Egyptian counterpart FWRUN and will expand its business in the country, Arab News reports, citing a statement from the company. Per the acquisition, both companies will exchange Read more
HSBC Saudi Arabia unveiled Wednesday the “HSBC Global Equity Climate Change Fund”; the kingdom’s first environmental initiative investment fund. The fund, the bank said in a statement, will provide eligible investors with exposure to renewable energy, clean transport, sustainable water Read more
Seattle-based logistics giant Amazon opened Tuesday in Egypt its first logistics center in Africa as part of the efforts to expand its footprint in the Arab republic and increase investment in the country’s infrastructure, advanced technology and e-commerce sectors. The Read more
The Iraqi army launched Tuesday a military operation to secure its borders with Syria, an area which recently witnessed attacks by the Islamic state group. Hamid Al-Husseini, commander of the Iraqi Border Guards, reports say, indicated that operation, code-named “Revenge Read more
The UAE Monday instructed the Public Prosecution office to probe ministers and senior officials suspected of wrongdoing in order to enhance accountability, reports say. A presidential decree published by Dubai Media office indicated that public prosecutor can receive complaints against Read more
Turkish President Recep Tayyip Erdoğan laid Monday foundation for the country’s Pentagon; a new headquarters of the defense and armed forces. The complex, tentatively named “Crescent Star,” will house the ministry, now led by former Chief of General Staff Hulusi Read more
Sierra Leone has inaugurated Monday its Consulate General in the Sahara city of Dakhla and installed Ms. Zainab Candy as the head of the consular representation. The inauguration of the Consulate comes just few days after Freetown opened an embassy Read more
Abu Dhabi-based InsurTech Hala has successfully closed its Series A round at $5 million, MAGNiTT reports. The investment round was led by Entrée Capital, with participation from Mubadala Investment Company, EQ2 Ventures, Global Founders Capital, 500 Startups, and Hambro Perks Read more