Local News

Dubai / WAM Emirates Islamic’s net profit for the first half of 2017 stood at AED387 million compared to AED137 million for the same period last year, reflecting the success of its investment deposits. One-year deposits offered 1.95 percent per annum in the second quarter of 2017, up by 50 bps since the end of 2016, while two-year deposits offered …

Dubai / WAM The Ajman Chamber of Commerce and Industry (ACCI), signed a Memorandum of Understanding (MoU) with the Department of Economic Development in Dubai (DED-Dubai), to foster the cooperation and exchange of experiences between both sides. The MoU was signed by Salem Al Suwaidi, Director-General of Ajman Chamber, and Ali Ibrahim, Acting Director-General of DED-Dubai, at the Chamber’s headquarters. Through …

Dubai / WAM The National Committee on Sustainable Development Goals presented, during its 3rd meeting this year, the UAE’s plan to achieve its sustainable development goals, to be included in the agenda of next year’s United Nations, UN, High-level Political Forum. The meeting in Dubai was headed by Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation, Chairwoman …

Dubai / WAM Emirates National Oil Company (ENOC), announced the introduction of the new ‘Biodiesel 5’ product to the UAE market. Biodiesel 5 is an advanced alternative green fuel product commonly used for diesel engines and has proven to reduce carbon footprint and greenhouse gas emissions. The new product is a clean fuel produced from vegetable oil, waste cooking oil …

Abu Dhabi / WAM The Securities and Commodities Authority (SCA) announced a draft resolution on the practice of clearing activities on UAE capital markets, urging all parities concerned to send their feedback on the draft not later than September 17 before its entry into force. According to the draft, which excluded UAE banks and branches of licensed foreign banks, an NOC …

Abu Dhabi / WAM The Ministry of Education and the Abu Dhabi Education Council (ADEC), have revealed the details of a new unified education system that was announced on Sunday, as per the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the monitoring of Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid …

Dubai / WAM The Commercial Compliance and Consumer Protection (CCCP), sector at Dubai Economy observed Monday as ‘Compliance Day’, as part of spreading awareness of commercial regulations and better compliance among businesses in the emirate. Compliance Day is celebrated in September every year with CCCP officials visiting commercial establishments to educate businesspeople and their employees on the importance of complying …

Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) announced that the authority has made progress in the supply, extension and commissioning of major water transmission networks, with a total length of 46km, and a total cost of AED260 million, in various parts of Dubai. Al Tayer said, “To date, approximately 13km, …

Dubai / WAM Despite the summer being a typically slow period for markets, the Dubai Gold and Commodities Exchange (DGCX) witnessed an uptick in trading volumes in key products, predominantly driven by increased investor interest in the Exchange’s offerings in Euro Futures, INR Options and Indian Single Stock Futures. The Exchange has strategically used the summer months to roll-out several …

Abu Dhabi / WAM The Ministry of Education and the Abu Dhabi Education Council (ADEC), on Sunday announced a plan to begin a process to achieve the standardisation of their education systems to support a unified and highly-performing education sector across the nation. The plan will unify the education sector through the development of the Emirati School Model across all …