Local News

  ABU DHABI / WAM The central bank of the UAE (CBUAE) and the Bank of Korea (BOK) on Wednesday renewed the Bilateral Local Currency Swap Agreement, reaffirming their commitment to promote trade and financial cooperation. The agreement was signed by Khaled Mohamed Balama, CBUAE governor, and Juyeol Lee, governor of the Bank of Korea. The agreement, which was originally ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has announced a donation of AED10 million to contribute to the “1 Billion Meals” initiative, to assist and provide sustainable food support to the underprivileged and most needy groups in 50 countries in the Middle East, North Africa and the world – in particular children, refugees, displaced persons, and victims ...

  Dubai / WAM Emirates Islamic Bank has launched the ‘Emarati Business Account’ initiative, designed specifically to support the UAE’s national companies. The new account builds on the bank’s ongoing commitment towards supporting the UAE’s SME sector, which represent 94 percent of the total companies and institutions operating in the country and contribute more than 50 percent to the country’s ...

DUBAI / WAM flydubai, the Dubai-based airline, announced that flights to Taif in Saudi Arabia will commence on April 15 with a daily service. This brings the number of destinations served by the carrier in the kingdom to seven. Ghaith Al Ghaith, Chief Executive Officer at flydubai, said, “We are pleased to see our network grow to offer more than ...

  ABU DHABI / WAM The Ministry of Economy (MoE) has confirmed the continuation of its periodic monitoring of the 300 most sought-after basic commodities in the markets, in partnership with the economic departments and regulatory authorities at the local and federal levels, through a weekly follow-up by the relevant work teams. More than 40 outlets and cooperative societies in ...

New York / WAM The United Arab Emirates has called for continued commitment from the United Nations Security Council to close the stark Covid-19 vaccination gap around the world. Sarah bint Yousif Al Amiri, Minister of State for Advanced Technology, delivered the UAE’s statement at a council meeting on the implementation of two resolutions that call for international cooperation and ...

  ABU DHABI / WAM The United Arab Emirates expressed its sincere condolences and solidarity with the brotherly Republic of Philippines over the victims of landslides and floods caused by the tropical storm that hit several areas of the Philippines this year, killing and injuring dozens. In a statement on Tuesday, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) started trading on the Dubai Financial Market (DFM) on Tuesday under the ticker symbol “Dewa”. After pricing its shares last week at AED2.48 per share, Dewa opened the day’s trading as the largest company on the DFM, with a market capitalisation of AED124 billion ($33.8 billion). Dewa sold 9 billion ...

  Abu Dhabi / WAM The Abu Dhabi Chamber of Commerce and Industry (ADCCI) and the Embassy of Rwanda in Abu Dhabi have discussed trade cooperation and economic partnerships between businesses in both countries. This came during the visit of the ambassador of Rwanda to UAE, Emmanuel Hategeka and the accompanying delegation to the chamber, where they were received by ...

Abu Dhabi / WAM Dr Abdulrahman bin Abdullah Al Hamidy, Director-General and Chairman of the Board of Executive Directors of the Arab Monetary Fund (AMF), has said that the Buna Payment Platform is the first Arab regional payment system that complies with universal standards. The platform allows payments in six currencies, including in four Arab currencies, the Emirati dirham (AED), ...