Abu Dhabi | Pixr8 News

Abu Dhabi based Mubadala acquire 1.85% stake in Reliance Jio

5Jun By AnkitaNo Comments

ACQUISITION

Abu Dhabi based Mubadala acquire 1.85% stake in Reliance Jio

India's leading Oil company Reliance Industries said that its telecom unit Reliance Jio raises $1.2 billion from Abu Dhabi state fund Mubadala Investment Co for 1.85% stake. This is the sixth funding of Reliance Jio in six weeks. Reliance has now sold a combined 19% interest in Jio Platforms. With this sixth funding including a 9.99% stake sale to Facebook Inc for $5.7 billion, Reliance will clear its 86 percent debt. Pixr8 News earlier announce that Reliance jio is in talks with Abu Dhabi based fund to further dilute its equity to raise more funds. All other funding details of Reliance Jio can find here. Mubadala owns electronic chip manufacturing company Global Foundries and has stake in several technology companies like AMD. "We have seen how Jio has already transforme...

British Restaurant Chain Wagamama to Make its Debut in Abu Dhabi

12Oct By Gauri SinghNo Comments

MIDDLE EAST, News

British Restaurant Chain Wagamama to Make its Debut in Abu Dhabi

A popular British restaurant chain known as Wagamama which has become a global brand is again entering into the Middle East market with another branch. The restaurant chain is making a debut and opening its first restaurant in Abu Dhabi. This new restaurant will be launched at Abu Dhabi Mall on October 31 which will bring the number of locations across the UAE to eight. The retailer said the opening marks a new chapter in the wider expansion plans for the restaurant brand across the UAE and a growing presence in neighboring GCC countries. “The arrival of wagamama at Abu Dhabi mall is an important milestone for the brand as we continue to deliver food that’s good for the soul, in a warm and friendly atmosphere,” said Elias Madbak, director of operations at RMAL Hospitality, franchise pa...

China To Set Up a Financial Firm in UAE’s Abu Dhabi

21Jul By Gauri SinghNo Comments

MIDDLE EAST

China To Set Up a Financial Firm in UAE’s Abu Dhabi

China will be setting up a state-owned financial service firm in United Arab Emirates (UAE) Abu Dhabi's financial hub. This firm will provide lending facilities to Chinese companies operating in the emirate's industrial zone. Abu Dhabi Global Market (ADGM) stated that the company has been approved by its Financial Services Regulatory Authority for conducting the regulated activities of offering and arranging credit through the ADGM platform. According to the reports, the firm aims to provide strategic investment and financial assistance to Chinese enterprises as a part of the Belt and Road Initiative. East China's Jiangsu provincial government-owned ‘The Industrial Capacity Co-operation Financial Group Limited’ (ICCFG) will be the very first of such Chinese financial services firm...

Indian Businessman wins USD 1 million in Dubai Lottery

25Apr By Lavina TolaniNo Comments

MIDDLE EAST

Indian Businessman wins USD 1 million in Dubai Lottery

An Indian businessman based in Kerala has today won USD 1 million in a Duty-Free Draw at Dubai International Airport. Kerala based Prabin Thomas, runs a networking business that is involved in selling IT products. As reported by Khaleej Times, he has won the lottery prize with ticket number 0471. Thomas who is a regular lottery ticket buyer in India had never won anything in the lottery before. But, this time he turned out lucky with his first online ticket purchase in Millenium Millionaire Promotion. An elated Thomas said, I will use the money to expand my networking business and probably start a small software company. The Duty-Free Draw in Dubai proved really lucky for Indians this time as another Indian based Dubai won a motorbike in the same. Earlier in January, another ...

Indian Companies Invested $3700 Million, Created 3000 Jobs in Abu Dhabi

13Feb By AnkitaNo Comments

INDIA, MIDDLE EAST

Indian Companies Invested $3700 Million, Created 3000 Jobs in Abu Dhabi

Indian companies have invested nearly USD 3,700 million creating 3,000 jobs in Abu Dhabi over the past decade. This fact was revealed at the recently held Abu Dhabi Week in India 2018. The Investment Forums showcased investment related opportunities in the capital city of UAE and the growing business opportunities in the region. India currently ranks 5th in terms of FDI into Abu Dhabi. Abu Dhabi is setting a benchmark for economic diversity and sustainable development. It is expanding its non-oil sectors to become high-value added economy that also encourages entrepreneurship. These sectors offer mutual opportunities to Indian businesses in a stable and flexible environment that is very well integrated into the global economy," said H.E. Saif Mohammed Al Hajiri, Chairman of Abu Dhabi De...

Taxi Aggregator Uber and Careem Suspend Services in UAE Capital

29Aug By NitishNo Comments

News

Taxi Aggregator Uber and Careem Suspend Services in UAE Capital

Ride-hailing companies Uber and Careem have suspended services in Abu Dhabi, the capital of the United Arab Emirates, since Saturday and do not know when they can resume operations, they said on Sunday. The National, a UAE newspaper, quoted unnamed sources as saying that as many as 50 drivers for Uber and Careem had been arrested. An Abu Dhabi source familiar with the situation told Reuters some drivers had been detained over violations of regulations but did not specify how many drivers or describe the violations. “This is a temporary suspension and we will let you know of any further updates,” an Uber spokesman in Dubai said via email. He did not respond to questions about the arrests or the reason for the suspension of services. Christian Eid, vice-president of marketing and com...