Local News

DUBAI / WAM Dubai Airports (DXB) and Etihad Energy Services Company (Etihad ESCO) have announced the successful installation of a solar energy system comprising 15,000 photovoltaic panels at Dubai International’s Terminal 2 – the largest at any airport in the region. With a capacity of 5MWp, the solar project will generate 7,483,500 kWh energy annually for Dubai Airports, resulting in ...

Bloomberg Abu Dhabi’s top sovereign wealth fund is hiring as it boosts active management of its estimated $697 billion portfolio. Abu Dhabi Investment Authority (Adia) plans to “add a number of new positions, mostly within investment and research-focussed roles” in its fixed income and treasury department this year, according to its annual report. The fund almost matched the performance of ...

DUBAI / Emirates Business The first half of 2019 saw the number of authorised tax agents increase by more than 110 percent to exceed 370 Agents, up from 176 by the end of 2018, asserted the Federal Tax Authority (FTA) as it hosted the second meeting of tax agents. The authority noted that the growth in the number of authorised ...

ABU DHABI / WAM According to numerous studies conducted by official authorities, such as the Federal Competitiveness and Statistics Authority, the percentage of digital banking users in the UAE rose to 90 percent while the percentage of ATM users reached 100 percent, reflecting the growing automation of the country’s banking sector. The same studies also show that many UAE residents ...

DUBAI / WAM Dubai Parks and Resorts on Monday announced that it has attracted 641,000 visits in Q2 2019, up from 612,000 in 2018, representing a growth of five percent. In celebration of Philippines Independence Day, Dubai Parks and Resorts launched an exclusive bundle offer for Filipino residents in the UAE, providing access to all the parks, for non-stop entertainment ...

ABU DHABI / WAM In a report marking its 48th anniversary, Abu Dhabi Fund for Development (ADFD), the national entity for international development aid, has announced that it has allocated about AED92 billion in development funding and investments to 90 beneficiary countries. Since its inception on July 15, 1971, the fund has disbursed AED43 billion in concessionary loans, AED46 billion ...

DUBAI / WAM The Dubai Land Department (DLD) signed a cooperation agreement with Emirates Auction, the leading company in managing public and online auctions in the Middle East, to organise and manage selective real estate auctions under the remit of the DLD for individuals and institutions. The agreement provides for a strategic partnership to develop the real estate sector in ...

ABU DHABI / WAM The Industrial Production Index rose by 16.6 percent in the first quarter of 2019, compared to the same period in 2018, rising from 122.3 percent to 142.5 percent during the monitoring period, according to figures released by the Statistics Centre-Abu Dhabi (SCAD). The index also rose by 42.4 percent in the first quarter of 2019, compared ...

SHARJAH / WAM Real estate transactions worth AED14.7 billion were record-ed in the Emirate of Sharjah in the first half of 2019, according to a latest report of the Sharjah Real Estate Registration Directorate (SRERD). Abdul Aziz Ahmed Al Shamsi, Director-General of the Sharjah Real Estate Registration Directorate in Sharjah, said that 27,588 total transactions were recorded that covered 24 ...

Dubai / Emirates Business Dubai Land Department (DLD), represented by its regulatory arm Real Estate Regulatory Agency (RERA), signed a memorandum of understanding (MoU) with the Arab Bank for Investment & Foreign Trade (Al Masraf) to manage and service Owners Association (OA) accounts. The MoU was signed by HE Marwan bin Ghalita, CEO of RERA, and Hussein Ohida, Assistant General ...