Local News

Ajman / WAM His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has said that the UAE flag reflects the concepts of unity and adherence to the Union’s values established by the Founding Fathers, as well as the community coherence, reinforcing patriotism and strengthening the country’s pioneering position and prominent image. He made this ...

DUBAi / WAM Dubai Investments on Tuesday reported a 102% surge in the third quarter net profit to AED213 million, compared to AED105 million in corresponding period last year. The net profit for nine-month period ending on September 30 was AED418 million. The total revenue during nine-month period was AED1.90 billion while the total assets increased to AED21.5 billion as ...

Dubai / WAM The UAE Space Agency and Mohammed Bin Rashid Space Centre announced the kick-off of ‘Generation Hope’ initiative under the Emirates Mars Mission (EMM) – Hope Probe, the first interplanetary mission undertaken by an Arab nation, that comes as part of its education and outreach efforts. Held between November 2020 until January 2021, it provides an avenue for ...

DUBAi / WAM Dubai Islamic Bank (DIB) on Monday announced that it has completed integration of Noor Bank with successful migration of all banking relationships into DIB. The acquisition further enhances DIB’s position as one of largest Islamic banks in world with total assets exceeding AED300 billion. Speaking about the Bank’s successful integration, Group Chief Executive Officer, Dr Adnan Chilwan, ...

Sharjah / WAM Bee’ah and the University of Sharjah (UoS) signed an MoU to collaborate across multiple areas of interest that will include environmental research, educational programmes, student sponsorships and explore developing business opportunities and Intellectual Properties (IPs). To enhance student development, Bee’ah will provide scholarships and training opportunities for UoS students and share recruitment opportunities through its job portals ...

Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investment company, on Monday announced that it will become an investor in Group42 (G42) the Abu Dhabi-based artificial intelligence (AI) and cloud computing company, via the integration of Injazat and Khazna Data Centres. As a result of the transaction, Injazat and Khazna – both homegrown industry leaders nurtured over the past ...

Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, on Monday announced the latest cohort of startups selected to join its rapidly growing startup community, with an increasing number of startups led by female founders. The successful startups, chosen from hundreds of applicants, will benefit from Hub71’s Incentive Programme, which reduces the cost of living and business set up ...

DUBAi / WAM The Dubai Gold and Commodities Exchange (DGCX) continued its strong growth trajectory during October, with its G6 currencies portfolio a standout performer during the month. The portfolio recorded an impressive year-to-date (y-t-d) volume growth of 378%, compared to same period last year. Among G6 currency pairs, Euro and British Pound Futures Contracts registered strongest performances, recording an ...

Dubai / WAM Nasdaq Dubai has welcomed the listing of a $ 600 million sukuk by the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB). The capital raised from the sukuk will support ICD’s wide-ranging development activities within its 55 member countries which include creating competition, entrepreneurship, employment ...

Sharjah / WAM The Expo Centre Sharjah, the organiser and the host of the SteelFab exhibition, has announced the postponement of the 17th edition of the event, which was scheduled to be held in January 2021, to June of the same year. In a statement, the centre’s Board of Directors said that the decision made after assessing the current global ...