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Dubai sovereign wealth fund ICD’s 2017 profit posts 11.6 pct increase

By   /  June 12, 2018  /  Gulf Countries  /  No Comments

DUBAI, June 12 (Xinhua) –– The Dubai sovereign wealth fund Investment Corporation of Dubai’s (ICD) 2017 net profit represents 11.6 percent increase year on year “despite challenging market conditions,” United Arab Emirates (UAE) state news agency WAM reported on Tuesday. ICD, according to its website, controls stakes in well-known Dubai brands like Emirates Airline and […]

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World’s top wealth fund opposes Musk’s double roles at Tesla

By   /  June 6, 2018  /  Business  /  No Comments

OSLO: Norway’s $1 trillion wealth fund said on Wednesday it had backed an initiative to wrest the role of chairman away from Tesla Chief Executive Elon Musk. The proposal, which was defeated in a vote at Tesla’s annual meeting of stockholders on Tueday, represented the strongest challenge yet to Musk’s grip on the Silicon Valley […]

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JLL Spark announces $100mn global venture fund

By   /  June 6, 2018  /  Business  /  No Comments

New Delhi, June 6 (IANS) JLL Spark, a division of JLL, on Wednesday announced it has created a Global Venture Fund that will invest up to $100 million in companies that aim to transform the real estate industry through technology. The fund will help entrepreneurs and their companies by connecting them with its business lines and […]

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Swiss Upper House rejects foreign fund ban on mosques

By   /  May 31, 2018  /  Religion, World  /  No Comments

GENEVA: The Upper House of Switzerland on Tuesday rejected a bill prohibiting foreign funding to mosques affiliated with the Swiss Turkish Religious Foundation. The motion was tabled by the southern Ticino canton, said Esref Dalkiran, deputy counselor for religious services of Turkey’s Embassy in Bern. The bill called for the prohibition of foreign funds for upkeep […]

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Egypt raises metro fare as part of austerity measures

By   /  May 11, 2018  /  Gulf Countries  /  No Comments

CAIRO: Egypt’s transportation authorities have more than tripled the standard subway fare from 2 to up to 7 pounds (40 cents) as part of government austerity measures. In a statement, the Transportation Ministry said the new fare will go into effect on Friday. It also said prices will now be affected by the number of […]

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Saudi-backed fund invests with Alphabet

By   /  April 25, 2018  /  Business  /  Comments Off on Saudi-backed fund invests with Alphabet

LONDON: SoftBank’s Vision Fund, backed by Saudi Arabia’s Public Investment Fund and the UAE’s Mubadala, invest in China’s ‘Uber for Trucks.’ Saudi Arabia’s appetite for investment in technology shows no sign of abating as reports emerge that a fund backed by the Kingdom is one of a number of investors looking to fund Chinese truck-hailing app […]

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UNICEF concerned by half million Afghan children affected by drought

By   /  April 24, 2018  /  World  /  No Comments

KABUL, — Water scarcity emanated from lack of precipitation in late 2017 and early this year has affected the live of 500,000 children in Afghanistan, the UNICEF warned Tuesday. The impact on the children could be devastating in 22 of the country’s 34 provinces, with 10 worst provinces across Afghanistan, where 20 percent to 30 […]

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PM doubles India’s contribution to Commonwealth fund

By   /  April 20, 2018  /  India  /  Comments Off on PM doubles India’s contribution to Commonwealth fund

London: Prime Minister Narendra Modi today announced the doubling of India’s contribution to the Commonwealth fund for technical cooperation and stressed the need to focus on providing developmental assistance to small island states, the External Affairs Ministry said today. The prime minister, during his interventions at the executive session of the Commonwealth Heads of Government […]

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