Local News

DUBAI / WAM Dubai Aerospace Enterprise (DAE) on Monday announced that it had recommenced its bond repurchase programme. Since the inception of the programme in mid-2018, DAE has repurchased approximately $485 million of principal amount of bonds and has remaining authorisation to repurchase a further approximately $115 million. DAE Chief Executive Officer Firoz Tarapore said, “The current trading levels of ...

DUBAI / WAM As part of the directives of the wise leadership to support charitable and humanitarian causes, the Islamic Affairs and Charitable Activities Department in Dubai (IACAD) on Monday announced that the construction of the Zayed Dialysis Centre is approximately 36 percent complete. The centre, located in the Al-Twar 3 area, is a joint project between the IACAD and ...

ABU DHABI / WAM Emirates Central Cooling Systems Corporation, Empower, has announced that the total number of buildings connected with its district cooling services in Dubai has increased to 1,180 in 2019, marking 8.25 percent growth from 2018. The company’s performance shows an impressive growth of 269 percent in a span of seven years, from 320 buildings in 2012 to ...

ABU DHABI / WAM The UAE Banks Federation (UBF), on Sunday announced that it has launched two new technical committees (Fintech and Consumer Protection) and three advisory committees (Compliance, Risk, and Information Security) to promote the growth and transformation of the UAE banking sector. As the official representative body of the UAE banking industry, the federation introduced the new committees ...

Dubai / WAM Nasdaq Dubai welcomed the listing of a $2 billion sukuk by the Islamic Development Bank (IsDB), a multilateral lender which finances development across its 57 member countries. The five-year sukuk is the largest by value to be listed on the exchange by IsDB, Nasdaq Dubai said in a press statement on Sunday. The bank said it was ...

Dubai / WAM The Dubai International Financial Centre (DIFC), and Mashreq on Sunday announced the region’s first blockchain data sharing platform, now in production, to support licenced businesses and corporations instantly opening digital bank accounts. Continuing the association formed in July 2019 between DIFC and Mashreq, an initiative, Know Your Customer (KYC), along with the DIFC incubated FinTech firm, norbloc, ...

Sharjah / Emirates Business Exploring the many exciting facets of the field of physics, over 500 high school students and their science teachers from 21 schools around the United Arab Emirates took part in FUNtastic FZX 2020, held at American University of Sharjah (AUS) on February 27. The popular physics fair aims to connect students with the university and share ...

DUBAI / WAM More than 1,500 people took part in a walk in Dubai to raise awareness of rare diseases and their impact on patients and their families, on the occasion of Rare Disease Day, observed on last day of February each year. The event – held under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance ...

ABU DHABI / WAM According to statistics from the National Economic Register of the Ministry of Economy, the number of economic licences issued in the UAE grew to 678,573 in February 2020, compared to 676,256 in January. This increase highlights the ongoing economic growth around the country. The Central Bank of the UAE noted that the country’s macroeconomic growth rate ...

DUBAI / WAM The Japanese Consul-General in Dubai, Dr. Akima Umezawa, has visited the Dubai Electricity and Water Authority (Dewa) headquarters to explore potential collaboration opportunities. During the visit, Dr. Umezawa met with Saeed Mohammed Al Tayer, Dewa Managing Director and CEO, who highlighted the importance of enhancing strategic collaboration between Dewa and Japanese companies in water, renewable and clean ...