Local News

DUBAI / WAM Dubai Airport Freezone Authority (Dafza), one of the UAE’s leading free zones, has stepped up efforts to attract new business and foreign direct investment (FDI) from China following official Chinese delegation visits this week. Jamal bin Marghoob, Senior Director of Sales at Dafza, along with senior officials welcomed the delegation from the China Council for the Promotion ...

DUBAI / WAM Nasdaq Dubai and Astana International Exchange (AIX) in Kazakhstan have signed an agreement to establish a close operational relationship between the central securities depositories, CSDs, of both markets. Hamed Ali, Chief Executive of Nasdaq Dubai, said, “As Kazakhstan’s dynamic companies increasingly look abroad for investment, Nasdaq Dubai can provide them with access to a large pool of ...

SHARJAH / WAM Air Arabia has announced that it inaugurated its direct flight between Kuala Lumpur and Sharjah. The seven-hour flight between the two cities is the first direct flight by a low-cost carrier connecting Malaysia with the UAE and GCC. The flight operates daily. Flights on Mondays, Wednesdays, Fridays, and Sundays depart KLIA at 03:35 local time arriving at ...

DUBAI / WAM The Federal Electricity and Water Authority (Fewa), a consortium consisting of Acwa Power and MDC Power Holding Company, an entity fully owned by Mubadala Investment Company, has entered into a water purchase agreement for a 150 million imperial gallon per day desalination plant in the Emirate of Umm Al Qaiwain (UAQ). The plant will utilise Seawater Reverse ...

Dubai / Emirates Business Enoc Group opened a new service station in Fujairah in line with its plans to expand its network to 191 stations in the UAE by end-2020. The Al Faseel service station will be Enoc’s ninth station in Fujairah since the first station in the emirate in 1989. The station caters to a large community in Al ...

Abu Dhabi / WAM Since the launch of its trial operations in April this year, the CSP Abu Dhabi Port Container Terminal (Cosco), has already gained great strides in its bid to drive investment growth and economic divers-ification aligned with Abu Dhabi Economic Vision 2030. The trade and investment journey began on September 2016, when China’s Cosco Shipping Ports Ltd ...

Dubai / WAM Dubai Airports has launched a high-tech system that monitors airport operations in real-time and visualises traffic flows to support consistently smooth operations at Dubai International (DXB). The cloud-based platform, titled ‘realtimeDXB’, gathers data generated by more than 50 operational systems, including those of Dubai Airports and its many service partners. It uses this information to keep all ...

DUBAI / WAM Dubai, Dubai Land Department (DLD), represented by its regulatory arm Real Estate Regulatory Agency (Rera) signed an MoU with United Bank Limited (UBL UAE) to manage and service owners’ associations (OA) accounts. Marwan bin Ghalita, CEO of Rera, and Syed Asghar Hussain, Head of Operations at UBL, signed MoU, through which Rera agrees to authorise UBL to ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) organised UAE Sri Lanka Forum to discuss areas of cooperation in trade, investment and tou- rism, and highlight the investment opportunities available in both countries. Held at the SCCI’s headquarters, the event was part of the chamber’s strategy aimed at strengthening economic cooperation with promising countries and boosting relationships ...

DUBAI / WAM Dubai Chamber of Commerce and Industry announced that it has signed a memorandum of understanding (MoU) with DP World — UAE Region, to collaborate on the Digital Silk Road, a Dubai 10X initiative which is expected to be launched by 2020. The Digital Silk Road is a smart digital platform which utilises blockchain technology to increase the ...