INVESTMENT-<\/p>\n
Alcazar Energy is investing USD 500 mn to build a 400 MW wind farm in North<\/strong> Macedonia<\/strong>, Al Bayan<\/a> reports. The project \u2014 which is set to be North Macedonia\u2019s largest wind plant \u2014 will be located 75 km south of the Macedonian capital of Skopje and will increase the country\u2019s wind energy generation more than fivefold, generating enough energy for more than 100k homes annually. The project will bring the firm\u2019s investments in the Western Balkans region to some USD 1 bn.<\/p>\n \n BANKING-<\/p>\n Mashreq will soon have instant cross border transactions in some markets: <\/strong>Our friends at Mashreq along with Singapore\u2019s DBS Bank will work together to introduce same-day and near-instant cross-border payments for Mashreq\u2019s retail customers, Reuters<\/a> cites the two banks as saying. The initiative will roll out DBS\u2019s cross-border payment solution which includes 132 currencies across 190 markets. The peer-to-peer international payments will apply to selected markets across the Asia Pacific region, Europe, and the Americas.<\/p>\n Mashreq has also extended their partnership with computer tech company Oracle<\/strong>, a press release<\/a> reads. Mashreq will upgrade its core systems with Oracle solutions in key international hubs, including Hong Kong, the US, and the UK. The lender is also establishing digital banks in Pakistan and Oman. <\/p>\n Emirates<\/strong> NBD will now offer online auto loan initiation<\/strong> through its exclusive partnership with Indian multinational online used car marketplace CARS24, a press release<\/a> reads. Customers can get pre-approval within 10 minutes and final loan approval in two days, without physical visits. This partnership aims to streamline the process of buying and financing cars in the UAE.<\/p>\n \n FINANCE-<\/p>\n CBUAE issues open finance framework: <\/strong>The Central Bank of the UAE (CBUAE) issued the Open Finance Regulation to promote soundness and efficiency of open finance services, as part of its Financial Infrastructure Transformation program, Wam<\/a> reports. The regulation includes a trust framework, an application planning interface hub, and common infrastructural services, geared at facilitating cross-sectoral data sharing and transaction initiation on behalf of users. The open finance framework also includes a consumer consent model for sharing financial data with trusted third parties.<\/p>\n Participation in the framework is mandatory for all financial institutions licensed by the CBUAE<\/strong> as data holders and service owners.<\/p>\n \n LOGISTICS- <\/p>\n Etihad Cargo to ramp up North America capacity:<\/strong> Etihad Cargo is set to expand its freight capacity to the North American market to meet rising demand, according to a statement<\/a>. Collaborating with partner networks, the carrier plans to incrementally add 250 tons of weekly capacity to North American destinations, including New York, Chicago, Washington, and Toronto, with connections through European hubs like Lisbon and Barcelona. Currently, Etihad\u2019s wide-body capacity to North America stands at 550 tons, with 445 tons to the US through 30 weekly flights and 105 tons to Canada via daily flights. <\/p>\n \n AVIATION-<\/p>\n Etihad to onboard more pilots:<\/strong> Etihad Airways will launch an international roadshow to recruit hundreds of pilots in 2024 and 2025, starting in eight cities across Europe before expanding to more global locations, it said in a statement<\/a>. The move comes as Etihad looks to support its expansion plans, with the airline planning to double its fleet size by 2030.<\/p>\n \n SECURITY-<\/p>\n Automated compliance screening for fraud to operate in ADIB: <\/strong>Abu Dhabi Islamic Bank (ADIB) and Singapore-based financial crime prevention firm Silent Eight have agreed to incorporate Silent Eight\u2019s AI-powered financial crime alert system into the bank\u2019s screening process, according to a press release<\/a>. As part of the agreement, ADIB will automate its \u201calert screening investigation process to improve the efficiency, accuracy and auditability of the bank's compliance operations,\u201d the statement adds.<\/p>\n \n TRADE-<\/p>\n The Dubai Chamber of Commerce formed a Colombian Business Council<\/strong> to increase bilateral trade between the UAE and Colombia, the Dubai Media Office<\/a> writes. The new council aims to promote collaborations between the private sectors of both countries.<\/p>\n The UAE and Georgia launched their Comprehensive Economic Partnership<\/strong>, slashing customs duties on 95% of goods to boost trade in sectors like tourism, real estate, and renewable energy, Wam<\/a> writes. By 2031, bilateral trade could triple to USD 1.5 bn, adding USD 3.9 bn to UAE's GDP and USD 291 mn to Georgia\u2019s.<\/p>\n The<\/strong> Ajman Chamber discussed boosting economic and trade ties with Turkmenistan <\/strong>at the UAE-Turkmenistan Business Forum in Ashgabat, focusing on tourism, construction, energy, logistics, aviation, and agricultural products sectors, Wam<\/a> reports.<\/p>\n \n TOURISM-<\/p>\n Abu Dhabi + Fujairah want more people to visit their museums:<\/strong> Abu Dhabi\u2019s Department of Culture and Tourism and Fujairah\u2019s Tourism and Antiquities Department inked an MoU to work together on boosting museum visitor figures and tourism across both emirates, according to a statement<\/a>. Under the agreement, the departments will conduct joint training initiatives and marketing campaigns aimed at increasing local and global tourism in both emirates.<\/p>\n \n DEVELOPMENT-<\/p>\n The OPEC Fund for International Development launched a new USD 605 mn development<\/strong> fund<\/strong>, according to Wam<\/a>. The fund is being allocated for financing global food security, climate action, and essential infrastructure initiatives, with USD 3 mn earmarked for the development of the OPEC Fund Food Security and Climate Adaptation Facility. <\/p>\n \n RETAIL-<\/p>\n Dubai-based <\/strong>Al Khayyat Investments (AKI) has been selected <\/strong>as the sole distributor for<\/strong> US-based household appliance-producer SharkNinja in the UAE<\/strong>, according to a press<\/a>release<\/a>. This marks SharkNinja's debut in the Middle East. Based in Dubai, AKI<\/a> is a family-owned conglomerate involved in various sectors such as pharma, automotive, and contracting. <\/p>\n","protected":false},"excerpt":{"rendered":" The project will bring Alcazar Energy\u2019s investments in the Western Balkans region to some USD 1 bn<\/p>\n","protected":false},"author":1,"featured_media":93349,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[1340,47,306,1357,1697,7,1393,99,1341,387,1334],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-ai","tag-also-on-our-radar","tag-aviation","tag-business","tag-development","tag-enterpriseam-uae","tag-finance","tag-logistics","tag-tech","tag-tourism","tag-trade","wpautop","entry"],"acf":{"mongo_id":"392e6323-1c6f-4bf3-819e-87aefbb86141","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1815.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Alcazar Energy to Invest USD 500 mn in 400 MW Wind Farm in North Macedonia","related_issue":[93329],"teaser":"The project will bring Alcazar Energy\u2019s investments in the Western Balkans region to some USD 1 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.cb81190b-c951-4a1d-b943-fce6a7310fa6.mp3"},"yoast_head":"\n