Dubai Islamic Bank reveals new Noor Bank board as acquisition nears

 A new interim board has been appointed for Dubai-based Noor Bank as its acquisition by Dubai Islamic Bank (DIB) gathers pace. Following approvals received from the regulators and the shareholders of Dubai Islamic Bank and Noor Bank, DIB said it is now progressing with the acquisition of Noor Bank. To ensure smooth acquisition of the transactio...

Masdar to reveal expansion plans at Abu Dhabi Sustainability Week

Masdar is set to reveal further expansion plans at the 2020 edition of Abu Dhabi Sustainability Week (ADSW) next month, according to the renewable energy giant’s CEO Mohamed Jameel Al Ramahi. The Abu Dhabi-based company currently has a footprint across 25 countries and operates over 5GW in capacity. Al Ramahi told Arabian Business Central Asia...

Saudi Arabia’s ACWA Power Plans $10B of Investments

Saudi Arabia’s utility developer ACWA Power plans to invest about $10 billion this year as it seeks out new projects in 10 countries, Reuters reported, citing Chief Executive Officer Paddy Padmanthan. The company operates in a dozen countries and is now bidding for projects in new markets including Ethiopia, Tunisia, Cambodia, Azerbaijan and U...

Totok returns to Google Play Store after UAE's spyware denial

The popular UAE-developed mobile application ToTok has returned to the Google Play Store after it was removed on claims it was being used for government spying, the company said Saturday. Google and Apple removed the app from their online marketplaces last month after ...

GM is giving Hummer a second life as an electric pickup

General Motors is bringing back the Hummer, nearly a decade after the brand became defunct. This time, the Hummer will live a new life as an all-electric pickup truck. General Motors is also investing in a splashy ad campaign. It'll show the Hummer in a Super Bowl ad in February, a source familiar with the plan confirmed to CNN Business. The Wal...

Dubai Taxi Corp passes 1 billion passenger milestone

Dubai Taxi Corporation, part of the Roads and Transport Authority (RTA), has lifted more than one billion passengers since starting operations 25 years ago, it has been announced. Mattar Al Tayer, director-general and chairman of the RTA, also revealed that the number of journeys made by Dubai Taxis has reached 682 million since 1995. He said in...

Just Eat battle ends with Takeaway.com as victor

Online food ordering company Takeaway.com has won the battle for the UK-listed Just Eat with a £5.9bn all-share offer. The deal will create one of the world's largest meal delivery companies. Dutch giant Takeaway.com was bidding against tech investment firm Prosus. The merged company, which will be led by Takeaway chief executive Jitse Groen, w...

Jeep to unveil plug-in hybrid versions of the Wrangler, Cherokee and Compass

The Jeep Wrangler is famous for its ability to tackle brutal off-road conditions. It's also known for the fact that, generally, it doesn't change too much. Today's flat-sided Wrangler is clearly a descendant of the boxy Jeep that slogged through the battlefields of World War II. But Jeep will soon undergo one of the biggest transformations of it...

Google and Amazon are now in the oil business

Google, Microsoft, and Amazon have been very vocal about their efforts to reduce the world's dependence on fossil fuels. But as The Wall Street Journal and Gizmodo have reported, these same companies are currently teaming up with fossil fuel industry to help them squeeze as much oil and gas out of the ground as possible. Oil has always been hard...

Google denies Xiaomi access over security bug

Google has revoked a Chinese tech giant's access rights after a user was able to view the feed from a stranger's security cameras on his device. A user in the Netherlands alleged that his Google Home Hub began displaying photos from unidentified locations on its smart screen when he accessed his camera, made by Xiaomi. Among the stills to appear...

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