Abu Dhabi Takes Sole Ownership of US Chip Maker

Abu Dhabi’s Advanced Technology Investment (ATIC), a high-tech investment fund owned by Mubadala, has taken over full ownership of Silicon Valley computer chip maker Globalfoundries. Related articles Abu Dhabi takes full control of AMD former chipmaking unit (digitaltrends.com) AMD Sheds Its Stake in GlobalFoundries (tarpon.wordpress.com) Advanced Micro Devices gives full control of former manufacturing unit […]

UAE PM’s YouTube Channel Attracts Over 0.2 Million Viewers

  DUBAI — The YouTube channel of His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has drawn 2,121 users and 201,633 viewers up to Thursday after it was launched two weeks ago.   Source: Khaleej Times  

Is Etisalat Feeling the Pain?

Posted on Feb 21, 2012 in Emirates-Middle East, UAE Economy, UAE Technology

Etisalat, the UAE’s largest telco, is seeking a syndicated loan for up to $2bn for general corporate purposes. The announcement comes just days after Etisalat took a $872 m write down on its Indian operations after the announcement that it is likely to lose its Indian license. On February 9 Etisalat also announced that its […]

Infrastructure Tender Process In The UAE

By Arti Sangar Arti Sangar is a partner is the Dubai office of DiazReus LLP Although many residential projects across the UAE are ‘on hold’, the UAE government is continuing to commit money to infrastructure and other public projects. Of all the infrastructure projects planned or under way in the UAE, perhaps the most ambitious […]

UAE Renewable Energy Deals Continue

Abu-Dhabi based renewable energy company Masdar has agreed to invest millions of dollars in Scotland on clean energy projects. The agreement with the Scottish government is the latest in the UAE’s efforts to diversify its energy portfolio and to reduce its dependence on an oil based economy. By 2020 Abu Dhabi plans to derive 7% […]

Central Bank of UAE Website Hacked

The Central Bank of the United Emirates was shut down on Thursday, apparently by Israeli hackers operating under the name “IDF Team.” The site of Arab Bank was also taken down, and it appears that the motivation was to embarrass the banks during the visit of European Central Bank head Mario Draghi to the UAE. […]

Data Protection Rules In The Dubai International Financial Centre

By Arti Sangar Arti Sangar is a partner in the Dubai offices of Diaz Reus LLP Businesses in the Dubai International Financial Centre (DIFC) and in particular, banking and financial organizations are increasingly processing and exchanging individual data electronically. Many businesses, understandably, consider data protection irrelevant to their operations and are not aware of its […]

Dubai Solar Project Will Diversify Energy Sources

Dubai has launched a $3.27 billion solar energy project that is expected to be online by 2013. Dubai, a net importer of energy, is initiating the project as part of an initiative to diversify away from its dependence on oil and to reduce its carbon footprint. Under an energy plan introduced last year  Under the plan, […]