Worth AED 1.5 billion dirhams, the M Glory Group electric vehicle manufacturing hub is destined to be one of the largest industrial hubs in the region.
The group says the sustainable industrial facility will be the UAE’s first plant of its kind and is expected to produce 55,000 cars per year to meet a rising demand for green mobility to reduce global carbon emissions.
The new factory at Dubai Industrial City will create more than 1,000 jobs and is the electric cars it produces will be exported to the wider GCC region, Egypt, Tanzania, Senegal, Mali and Kenya.
The factory’s official opening was presided over by His Excellency Omar Suwaina Al Suwaidi, Undersecretary at MoIAT, Dr. Magda Al-Azazi, Chairman of the Board of Directors of M Glory Holding Group, and Saud Abu Al-Shawareb, Managing Dubai Director of Industrial City.
Dubai's TECOM Group has announced a 15 per cent year-on year (YoY) growth in net profit to AED 293 million for the three month period ended March 31, 2024.
Sony Pictures Entertainment (SPE) and Apollo Global Management APO.N have made a $26 billion cash offer for Paramount Global, the Wall Street Journal reported.
Changpeng Zhao, the former chief executive of Binance has been sentenced to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.
Emirates Airline has announced significant changes to its pilot recruitment strategy, which includes higher salaries, new roles and a radical change to eligibility.
Submissions have opened for the first edition of a major initiative to honour food establishments in Dubai for their excellence in standards for safety, nutrition, sustainability and social responsibility.