Local News

DUBAI / WAM Emirates plans to operate four flights between Dubai and Cairo on June 14, 18, 19 and 21. Customers can also connect to these flights in Dubai from any destination on Emirates’ current network of 30 destinations in the GCC, Asia Pacific, Europe and the Americas. In a statement by the airline on Thursday, flights can be booked ...

AJMAN / WAM Ajman’s Department of Economic Development has seized counterfeit engine oil valued at AED20 million after an investigation revealed they were being marketed under international brand names in a factory in Ajman’s Industrial Area. Some 100,000 containers were confiscated by the Control and Consumer Protection Department, and the factory was immediately fined and closed, Ajman DED said in ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry has announced that it recently kicked off a webinar series providing African business leaders and entrepreneurs with useful information about doing business in Dubai, and promoting Dubai as an ideal hub for African companies. The Benefits of Doing Business in Dubai series was organised by the Chamber’s representative offices in ...

Abu Dhabi / WAM Etihad Airways and Aldar Properties have entered into a historic partnership that brings benefits to UAE-based Etihad Guest members and shoppers in the UAE capital, Abu Dhabi. Through this exclusive agreement Etihad Guest members can now earn and spend their Etihad Guest Miles on purchases made with their Visa cards at three malls within Aldar’s retail ...

Dubai / WAM Dubai property developer Nakheel has announced the increase in demand for villas, with sales worth AED223 million in the last three months, as buyers look for more indoor and outdoor living space to adapt to the ‘new normal’. According to a press release issued by the company on Thursday, Nakheel has sold 70 villas with a sales ...

Abu Dhabi / WAM The world’s leading oil, gas, and petrochemical CEOs will join a virtual roundtable hosted by Abu Dhabi National Oil Company (Adnoc) on June 16, to discuss critical issues facing the industry and share best practices on effective response to Covid-19, as oil markets continue to rebalance amid encouraging signs of economic revival. Adnoc convened this special ...

Dubai / WAM Dubai Islamic Bank (DIB) has successfully closed a $1 billion long five-year sukuk with a profit rate of 2.95 percent per annum, which is equivalent to 245 basis points (bps) over the equivalent tenor Mid Swap Rate. In a statement by the bank on Wednesday, DIB’s $1 billion Sukuk is a landmark transaction as it is the ...

Abu Dhabi / WAM Outward personal remittances during Q1 increased by 7.8% or AED3 billion from AED38.4 billion to AED 41.4 billion compared to same period of 2019, according to official figures released by UAE central bank on Wednesday. “The outward personal remittances that were settled via banks rise by 16.9% or AED1.4 billion. Outward personal remittances that were settled ...

Abu Dhabi / WAM Means to advance cooperation opportunities between the Abu Dhabi Fund for Development (ADFD) and Colombia were discussed over a virtual meeting. Mohammed Saif Al Suwaidi, Director General of ADFD held a video conference with Marta Lucia Ramirez, Vice President of Colombia, where both parties focused discussions on relations between the UAE and Colombia and ways to ...

ABU DHABI / WAM The central bank of the UAE (CBUAE) has projected the recovery of economic activity to commence in the second half of the year. The first quarter economic activities witnessed mixed movements, with the UAE economy performing well during the first two months of 2020. The bank affirmed — in the Quarterly Economic Review 2020 published on ...