Abu Dhabi / Emirates Business HE Abdullah bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs met HE Ayana Zewdie, Ethiopian, Minister of State for Trade, to discuss strategic ways on how to further enhance cooperation with Ethiopia, especially across potential investment opportunities in agriculture and food industries. The meeting was held at the Ministry’s ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has ordered to rename the Academic City Road in Dubai after Sheikh Zayed bin Hamdan Al Nahyan, in recognition of his contributions to the UAE. Running parallel to Mohamed bin Zayed Road and Emirates Road, the eight-lane highway extends ...

Sharjah / WAM Sharjah Oasis has announced the completion of Phase 1 construction activities at Sharjah Waterfront City at a value of AED3 billion. The announcement comes as the organisation hands over two power transmission and distribution plants, built with a cost of AED250 million and with its own resources to ensure uninterrupted supply of up to 700 megawatt (MW) ...

Abu Dhabi / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC), in cooperation with the National Health Insurance Company (Daman), launched the ‘Traveller’ programme, to provide emergency health insurance coverage for UAE nationals abroad, which is the first local and international programme of its kind. The programme is part of the ministry’s wish to realise the UAE leadership’s ...

Abu Dhabi / WAM Red-light cameras caught 13,000 violations in the emirate of Abu Dhabi during 2017, according to a senior police official. Brigadier Ahmed Al Shehhi, Deputy Director of the Traffic and Patrols Department at the Abu Dhabi Police, said that running a red light was the main cause for six percent of the traffic incidents in Abu Dhabi ...

Abu Dhabi / WAM In co-operation with the World Bank, the Department of Economic Development (DED), in Abu Dhabi on Tuesday organised the Doing Business Forum 2018 in the emirate. Over 100 participants took part in the event, which aims to exchange expertise and best experiences in relation to the development and update of all the procedures, processes and laws ...

Dubai / Emirates Business Dubai’s diverse and vibrant hospitality sector is forecast to experience strong, sustained growth over the coming years, with occupied room nights set to reach 35.5 million annually in 2019, representing a robust 10.2% compound annual growth rate (CAGR) over the next 24 months. According to a comprehensive study of the market by Dubai’s Department of Tourism ...

Bloomberg Treasuries fell, with investors driving the benchmark yield higher as the government auctioned a deluge of bonds. US stocks pared losses in late-morning trading, looking to add to a six-day rally. The Treasury started a week of auctions totalling $258 billion on Tuesday with $151 billion of short-term bills and $28 billion of two-year notes. The two-year rate jumped ...

Reuters Major Gulf stock markets softened on Tuesday, in line with a small pull-back by global bourses and oil prices, but Egypt was buoyed for a second day by strength in its biggest bank. The Saudi stock index rose in early trade but closed 0.3 percent down as Saudi British Bank fell 2.2 percent after reporting a 16.3 percent rise ...

Abu Dhabi / Emirates Business Abu Dhabi Ship Building PJSC (ADSB) has released its financial results for the financial year ended December 31, 2017. The report was accompanied by a statement from the Chief Executive Officer, Dr. Khaled Al Mazrouei, who provided highlights from the successful business year. Overall, 2017 was another positive year for ADSB, as the company surpassed ...