Local News

ABU DHABI / WAM Positive macroeconomic developments during the first and the second quarters of 2019 reflected on the UAE labour market as employment in the private sector increased by 1.0 percent in Q2 to 5.1 million compared to a rise of 0.1 percent in the previous quarter, according to figures released by the Central Bank of the United Arab ...

Dubai / WAM Dubai has risen up the ranks of the Global Financial Centres Index (GFCI), to number eight position, representing its highest-ever ranking. The city is the only financial centre in the Middle East, Africa and South Asia (Measa) region to appear within the top 10 rankings, placing it alongside other pivotal financial hubs such as London, New York, ...

Abu Dhabi / WAM In a continuous effort to improve business efficiency and ensure ease of doing business, the Abu Dhabi Global Market (ADGM), Registration Authority has launched an instant licence renewal service for entities registered at ADGM. According to a press release issued by ADGM on Monday, the new instant licence renewal service will allow registered entities to efficiently ...

ABU DHABI / WAM The UAE consolidated government expenditure rose AED119 billion during Q1 2019, a growth of 21.6% as compared with the same period in 2018, according to figures released by the Central Bank of the UAE (CBUAE). In its quarterly review, CBUAE said, UAE government expenses went up y-o-y by 16.3% during Q1. Moreover, capital spending, measured by ...

GENEVA / WAM UAE citizens in Geneva, Berlin, and London on Sunday started voting for the elections of the fourth session of the Federal National Council (FNC). Ambassador Obaid Salem Al Zaabi, UAE Permanent Representative to the United Nations and Other International Organisations in Geneva, said that all arrangements were made for the UAE citizens abroad to participate in the ...

Dubai / Emirates Business Meraas Holding (Meraas) announces that it has entered AED5 billion ($1.4 billion) long-term strategic partnership with Brookfield Asset Management (Brookfield) to jointly own and operate a retail-focused real estate platform in the UAE with a mandate to explore growth opportunities in the retail sector across the GCC region. This transaction represents a significant investment in the region ...

Abu Dhabi / WAM The Department of Community Development (DCD) in Abu Dhabi organised a ceremony on Sunday to award licences for the existing 18 non-Muslim places of worship in the emirate of Abu Dhabi. Licences for five other places of worship were also announced in the ceremony. The event aimed to highlight the DCD’s vital role in regulating places ...

Dubai / Emirates Business Dubai Chamber of Commerce and Industry hosted its Exporter of the Month ceremony at its head office where 8 member companies were recognised for outstanding export performance during the first eight months of this year. GTCS Trading DMCC and DBMSC Steel FZCO were both recognised as companies reaching the highest export value, while Hitech Industries FZE ...

Dubai / WAM The Mohammed bin Rashid Housing Establishment (MRHE), announced the start of preparations to organise the third edition of Housing, Building Materials, Decoration & Engineering Consultancy Exhibition “DecoBuild 2019”, which will be held in Dubai, from November 6-9. The exhibition, which is organised for the third consecutive year, will be witnessing broad participation of governmental entities, especially exhibitors, ...

Dubai / WAM Dubai’s Department of Economic Development (DED), issued 2,650 new licences for various professional, commercial, industrial and tourism activities in August 2019. This is a sign of continuing investor confidence in Dubai and new opportunities arising across diverse economic sectors, said a DED press release issued on Sunday. According to the Business Registration and Licensing (BRL), sector in ...