Local News

DMCC-China pacts to boost trade, attract FDI to Dubai

DUBAI / WAM DMCC — the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise — has signed two new strategic partnership agreements with Chinese authorities during visits to the cities of Hangzhou and Qingdao as part of its sixth Made for Trade Live roadshow of 2019. DMCC signed a memoranda of understanding (MoU) with ...

Read More »

Abu Dhabi launches ‘instant licensing’ for small energy firms

ABU DHABI / WAM The Abu Dhabi Department of Energy (DoE), in cooperation with Abu Dhabi Digital Authority (ADDA), has announced the launch of instant licensing services through the Abu Dhabi Government Services System (Tamm). The mutual venture aims to facilitate fast and effective innovative technologies to better serve small-size energy businesses in Abu Dhabi. The eligible businesses in Abu ...

Read More »

Road, bridge work to Dubai Hills Mall 45% complete

DUBAI / WAM The Roads and Transport Authority (RTA), has announ-ced 45% completion of construction works on the bridges and roads leading to Dubai Hills Mall at the junction of Umm Suqeim Street and Al Khail Road. The project encompasses the construction of 12 bridges spanning 3,700 metres with a width varying from 11 to 22 metres in addition to ...

Read More »

UAE, Spain discuss infra development ties

MADRID / WAM Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, met with Spanish Minister of development, Jose Luis Abalos Meco, and State Secretary for Trade, Xiana Mendez. The meeting, attended by Majed Hassan Al Suwaidi, UAE Ambassador to Madrid, discussed bilateral relations and ways to enhance cooperation and investment opportunities, particularly in the infrastructure sector. Dr ...

Read More »

UAE discusses deeper cooperation, connectivity at AIIB meet

ABU DHABI / WAM A UAE delegation attended the fourth annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB). Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, was mandated to represent the UAE at the bank’s meetings and events and on its board. Following last year’s event in Mumbai, ...

Read More »

UAE, Norway mark 40 years of strong cultural relations

DUBAI / WAM An exhibition titled Norway-UAE: +40 Years of Culture opened at the Ministry of Foreign Affairs and International Cooperation, with the attendance of Zaki Nusseibeh, Minister of State and Jens Eikaas, Norwegian Ambassador to the UAE. The exhibition was previously on display at Mesh — The Nordic Creator’s Community in Oslo. Taking the Norwegian Seamen’s Centre in Dubai ...

Read More »

Union Coop records 20% growth in H1 net profit

DUBAI / WAM Union Coop, reported a 20 percent growth in net profit for the first half of 2019, compared to the previous year. The net profit for 2018 was AED237.7 million, whereas 2019 reported AED284.6 million net profit, which is a surge of AED46.9 million. CEO of Union Coop – Khalid Humaid Bin Diban Al Falasi said, “The increase ...

Read More »

Abu Dhabi wealth fund to buy 30% of Domestic & General

Bloomberg Abu Dhabi’s sovereign wealth fund agreed to buy about a 30% stake in Domestic & General Group Ltd, the UK appliance warranty provider owned by CVC Capital Partners. The deal with the Abu Dhabi Investment Authority (Adia) is expected to close by year-end, Domestic & General said in an emailed statement Wednesday, which confirmed an earlier Bloomberg News report. ...

Read More »

Fujairah oil product stocks climb for first time in six weeks

FUJAIRAH / WAM Stockpiles of oil products at the Fujairah port in the UAE increased for the first time in six weeks, against a backdrop of strong summer demand from utilities in the region and for jet fuel from Europe, data by the Fujairah Oil Industry Zone showed. Total stockpiles rose 4.2 percent over the past week to 19.36 million ...

Read More »
Send this to a friend