Local News

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has sent cables of congratulations on the occasion of Eid al-Adha to all Arab and Islamic leaders. President His Highness Sheikh Khalifa wished the Arab and Islamic nations, their leaders and peoples more success and prosperity. Vice President and Prime Minister of UAE and Ruler of Dubai, …

VANCOUVER / WAM DP World has completed the Phase 2 North expansion project designed to increase container throughput at Prince Rupert’s Fairview Container terminal. DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, and The Honourable Francois-Philippe Champagne, Minister of International Trade, Government of Canada, marked the occasion with a ribbon cutting ceremony in Prince Rupert, in the presence …

ABU DHABI / WAM The Emirates Post Group (EPG) discussed cooperation with Universal Postal Union (UPU) in postal field. This came during a meeting between Chairman of EPG, Mohamed Sultan Al-Qadi, and UPU Director-General Bishar Hussein, Regional Coordinator of International Development Programme for African Countries Abdellatif Meskine. The meeting was attended by Chief Support Services Officer at EPG Sami Alkhaja, …

Dubai / WAM The Dubai 10X Programme Team at the Supreme Legislation Committee in the Emirate of Dubai (SLC) have highlighted the most important futuristic projects that support the ‘Dubai 10X’ initiative in a recent seminar held at the SLC General Secretariat headquarters. The seminar was aimed at promoting Dubai as a pioneering environment in the UAE for the development …

Dubai / Emirates Business Remittances to developing markets have proved to be a powerful force in drastically improving the quality of people’s lives, says Xpress Money’s COO, Sudhesh Giriyan. Giriyan’s statement comes after a report released by the International Fund for Agricultural Development (IFAD) that shows regular remittances to families in developing markets help reduce the level of poverty, and …

Dubai / WAM Profitability at the four largest UAE banks will remain solid in the next 12 to 18 months underpinned by solid interest income, despite pressure on fee and commission income, says Moody’s Investors Service in a new report. The four banks, First Abu Dhabi Bank PJSC (FAB), Emirates NBD PJSC (ENBD), Abu Dhabi Commercial Bank (ADCB) and Dubai …

DUBAI / WAM The UAE is seeking to join the Board of the International Maritime Organisation (IMO) as a “Category B” member, which is supported by its leading ranking on the map of international ports, as the first placed country on a regional and Arab level and third on an international level, in terms of the quality of the infrastructure …

ABU DHABI / WAM The UAE, represented by a senior delegation, will participate in the China-Arab States Expo 2017 that will take place from September 6-8 in Yinchuan, capital city of Ning-xia Province in northwest China. The Ministry of Economy held a coordination meeting at its headquarters in Abu Dhabi, which included the delegation that will participate in the expo, …

DUBAI / Reuters Bank of America Merrill Lynch (BAML) and First Abu Dhabi Bank (FAB) are set to join Goldman Sachs in getting roles in the share sale of the UAE real estate development business of Emaar Properties, sources told Reuters on Tuesday. Dubai-based Emaar, the builder of the world’s tallest tower, is considering an initial public offering of up …

Dubai / Emirates Business The third meeting of the Higher Committee for Consumer Protection (HCCP) under the chairmanship of Sultan bin Saeed Al Mansoori, Minister of Economy, witnessed discussions on various strategies for developing and promoting consumer protection in the UAE’s markets. The HCCP followed up on developments in the implementation of the recommendations forwarded during its previous meetings. Among …