RAKIA

The case stems from a claim by RAKIA that it lost more than $1.5 billion through fraud and mismanagement arising from a string of deals linked to its former chief executive, a Lebanese-Swiss businessman called Khater Massaad.C

Caption: The CPR cocktail, with chamomile-infused rakia, lemon juice, pear puree, ginger syrup and the house bitters.

The launch took place during a gala event in Ras Al Khaimah, and was attended by HH Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, in addition to many dignitaries, policymakers, businessmen, media members, and clients of RAK FTZ and Rakia.

"We are pleased to appoint Ramy Jallad as the acting CEO of RAKIA, while still retaining the position of acting CEO for Ras Al Khaimah Free Trade Zone," Sheikh Ahmad Bin Saqr Al Qasimi, chairman of RAKIA and RAK FTZ said in a statement, as per Arabian Business .

RAKIA also offers flexible payment terms on the lease to SMEs, which can be paid incrementally if a company is leasing offices or land to build its own facilities.

Vice President ICCI expressed hope that RAKIA would help set off a new growth trend in the region, marking the beginning of a revival of the real estate sector.

Last year, RAKIA achieved 27 percent increase in the number of licenses compared to 2009 and expects to surpass this number by the end of this year.

Ras Al Khaimah Investment Authority (Rakia), a major provider of investment opportunities in its free zones, highlighted its strategic advantages and key factors for its growth at a recent forum for high-profile CEOs in Dubai.

Ras Al Khaimah Investment Authority (Rakia) has announced that it has entered into a working agreement with HSBC Holdings (LSE: HSBA).

MUSCAT: Sheikh Saud bin Saqr Al Qasimi, Supreme Council member and ruler of Ras Al Khaimah, one of the UAE emirates, inaugurated the state-of-the-art vehicle factory of Ashok Leyland (UAE) Ltd, a joint venture between Ashok Leyland, the flagship of the Hinduja Group (India) and the Ras Al Khaimah Investment Authority (RAKIA), at Ras Al Khaimah.

Already Tata has announced their Prima range trucks for the global market and now the Hinduja Group flagship Ashok Leyland on Thursday will inaugurate a vehicle assembly plant in UAE's Ras al Khaimah Investment Authority (RAKIA).