Local News

ABU DHABI / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, announced its financial results for the first half of 2017. The company reported a net profit of AED128.5 million for the period, an increase of 20% in profitability over the same period last year. The total assets …

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Water and Electricity Authority (ADWEA) signed a Memorandum of Understanding (MoU) for strategic water connections and the exchange of potable water in case of emergencies, or other purposes, between Dubai and Abu Dhabi. This is part of the efforts of both parties to ensure that water security is …

DUBAI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, paid his condolences, on Monday, to the family of the martyr, Captain Ahmed Khalifa Al Baloushi, who lost his life while serving with the Arab Coalition’s “Operation Restoring Hope,” led by Saudi Arabia, to back …

ABU DHABI / WAM The retail sector in the UAE is a significant mainstay of the domestic economy, with retail trade expected to secure a compound annual growth rate of 4.9 percent to hit AED260 billion by 2021, according to international forecasts. The marked growth of this sector comes in coveted defiance of geopolitical tensions in the Middle East and …

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) has so far supported Pakistan with grants and concessionary loans on behalf of the Abu Dhabi government, valued at AED1.5 billion, across nine sustainable development projects. The projects spanned diverse sectors, most notably transport, water and agriculture, healthcare, and education. The ADFD, which is the leading national entity for development …

DUBAI / Emirates Business Under the patronage of HE Dr Abdullah Bin Mohammed Balheif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Federal Transport Authority for Land and Maritime, the 3rd Maritime Conference & Expo (MARACAD 2017) will be held at the Dubai International Trade Centre on October 30-31. MARACAD will be held during the peak period supporting …

DUBAI / WAM Hotels and desert camps in Dubai have just one more month to enter the 2017 Dubai Sustainable Tourism Awards. Part of the Dubai Sustainable Tourism initiative, the awards will recognise hotels and individuals who are adopting tangible measures to contribute to enhanced sustainability within the emirate’s tourism sector. Establishments can enter the awards via the Dubai Sustainable …

ABU DHABI / WAM Masdar, Abu Dhabi’s renewable energy company, and MDC Business Management Services (BMS) signed a MoU to explore opportunities to deliver projects that improve the energy and water efficiency of buildings and facilities in the UAE. Masdar’s specialised sustainability capabilities will be combined with the facilities management expertise of BMS to help companies make their properties more …

ABU DHABI / WAM Short-term deposits in UAE banks increased by AED27.9 billion during H1, bringing to AED439.7 billion the total value of short-term deposits by the end of June, according to UAE Central Bank statistics. The term ‘Short Term Deposit’ refers to an amount of money placed in a bank or financial institution for a term no longer than …

ABU DHABI / Emirates Business Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, kept the momentum of its strong Q1 performance to achieve a combined net profit of AED 40.9 million (Policyholders & Shareholders before release of Qard Hasan) and an underwriting …