Local News

Dubai / Emirates Business A survey of UAE investors and residents show that the recently implemented UAE Permanent Residency Scheme has created a positive sentiment in the investment community. A random survey of 1,012 respondents indicate that existing investors have more appetite to increase their portfolio, while would-be investors are now more open to start investing. Seventy-nine per cent of ...

DUBAI / WAM Dubai International Financial Centre (DIFC) is continuing to prioritise the ease of doing business with the introduction of new licencing categories and fees designed to make establishing businesses within the Centre easier and more affordable. Four new licencing categories were introduced as part of the new Operating Law and Regulations, including Short-term and Restricted Licences, Comme- rcial ...

ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, and with Trinh Dinh Dung, Deputy Prime Minister of Vietnam, discussed ways of accelerating mutual cooperation between the two countries. Al Mazrouei emphasised the strength of UAE-Vietnam relations in the light of the mutual ties of friendship and common interests in all fields. The ...

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 ...