Local News

Abu Dhabi / WAM Mohammed Saif Al Suwaidi, Director-General of the Abu Dhabi Development Fund (ADFD), stated that the fund, in cooperation with the Sudanese government, recently implemented an aid package worth around $556.5 million to support Sudan’s financial, economic, health, education, nutrition and agriculture sectors, as part of an overall Emirati grant worth $1.5 billion. In his statement to ...

Dubai / WAM Commercial Bank of Dubai (CBD) announced the issuance of a $600 million Additional Tier 1 (AT1) perpetual non-call 6-year bond, at a coupon of 6%, the lowest coupon from a Dubai bank issuer to date on a Basel III compliant AT1 bond. The transaction is the bank’s inaugural AT1 issuance, returning the bank to the capital markets ...

Abu Dhabi / WAM The highest number of submissions have been recorded for the 15th edition of the Sheikh Zayed Book Award, as its Reading Panel reported reviewing a record 2,349 submissions across nine categories, from 22 Arab and 35 foreign countries. The Reading Panel concluded its review of all submitted works, the highest number in the Award’s 14-year history, ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 85,093 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

ABU DHABI / WAM The Zakat Fund’s total revenue in the first three quarters of 2020 amounted to around AED184 million, according to Abdullah bin Aqeedah Al Muhairi, Secretary-General of the Zakat Fund. He credited the Fund’s easy to use “collection channels” for the large donations saying they offer various options to pay and calculate Zakat. Al Muhairi expressed his ...

DUBAI / WAM DP World Limited handled 18.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in Q3, with gross container volumes increasing by 3.1 percent year-on-year on a reported basis and up 1.9 percent on a like-for-like basis. On a nine-month basis, DP World handled 52.2 million TEU, decreasing 2.5 percent on a reported basis ...

Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced it rolled out a company setup offer for businesses worldwide. According to DMCC, the offer provides international companies the opportunity to set up a representative office in one of the world’s leading business hubs in as little ...

Dubai / WAM Under patronage of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, the World Government Summit Foundation, in partnership of the United Nations, is organising high-level virtual celebratory event entitled “75 Minutes for Global Collaboration” on Monday. The event will address the importance of international cooperation, ...

ABU DHABI / WAM As part of the Abu Dhabi government’s efforts to support the emirate’s real estate sector and public-private partnership initiatives, the Abu Dhabi Executive Committee directs the development of a public-private partnership framework to implement capital projects in the emirate. In this context, ADQ, holding company with a broad portfolio of major enterprises, spanning key sectors of ...

DUBAi / WAM Ahmed Mahboob Musabih, Director-General of Dubai Customs, held a videoconference with a Swiss delegation, headed by Frank Eggmann, Swiss Consul General to Dubai, to discuss expanding mutual economic cooperation and trade between Dubai and Switzerland. The two sides discussed the stimulus packages launched by the Federal government and Dubai government to support the business activity and to ...