Local News

DUBAI / Emirates Business Dubai International Financial Centre (DIFC) Authority, the entity responsible for the operations and management of the leading financial hub for the Middle East, Africa and South Asia (Measa) region with a wealth and asset management market of $424 billion, has strengthened its leadership team to drive its ongoing journey towards becoming a next generation financial centre. ...

ABU DHABI / WAM The World Future Energy Summit, will host an unrivalled gathering of top-level government and business leaders when it returns to Abu Dhabi in January 2020, further reinforcing its place as the leading global event and business marketplace for future energy, clean tech and sustainability. Hosted by Masdar and part of Abu Dhabi Sustainability Week, the World ...

Dubai / Emirates Business Aafaq Islamic Finance, in collaboration with Mastercard, has launched unique Sharia-compliant credit cards, boosting its retail segment and capturing the growing credit card market in the country. Aafaq’s retail business expansion is in response to the increasing demand for Sharia-compliant banking products and services in the country, where over 50% of customers use Islamic banking products. ...

ABU DHABI / WAM According to statistics from the Ministry of Finance, the UAE’s total spending on social benefits in 2018 amounted to AED65.74 billion, accounting for 16.8 percent of government spending. This figure highlights the importance of social development to the agendas of the federal government and local governments, in line with the UAE Vision 2021 and the country’s ...

Dubai / Emirates Business The non-oil private sector in Dubai continued to post a marked expansion of total business activity in June, with the rate of growth accelerating further to a new high since the survey began in 2010, according to Emirates NBD Dubai Economy Tracker Index. Among the three key sectors monitored, the strongest overall performance was again registered ...

ABU DHABI / WAM The Federal Authority for Nuclear Regulation (FANR), the UAE’s Nuclear Regulator, announced on Monday that it has certified the first group of 15 UAE National Senior Reactor Operators (SROs) and Reactor Operators (ROs) at Nawah Energy Company, the operations and maintenance subsidiary of the Emirates Nuclear Energy Corporation (Enec). The certification is part of complying with ...

ABU DHABI / WAM Around AED31 billion was generated through 10,000 plus real estate transact-ions across Abu Dhabi Emirate in first half of 2019, according to the first biannual report of the Department of Urban Planning and Municipalities (DPM). “These results demonstrate the buoyant real estate market in Abu Dhabi,” Falah Al Ahbabi, Chairman of the DPM, commented, adding, “These ...

Al Ain / Emirates Business Strata Manufacturing, the advanced composite aero structures manufacturing company wholly-owned by Mubadala Investment Company PJSC, is to expand its current manufacturing facilities to on board the assembly of the Boeing 787 Dreamliner vertical fins. The modifications to Strata’s existing facility at Nibras Al Ain Aerospace Park follow an agreement signed by the two aircraft manufacturers ...

Dubai / Emirates Business Etihad Credit Insurance (ECI), the UAE federal credit insurance company has signed a memorandum of understanding (MoU) with the Corporate Banking division of Emirates NBD, enabling them to expedite their global business reach. This partnership will empower UAE-based firms to strengthen their presence regionally and internationally by providing them access to ECI’s comprehensive range of trade ...

Dubai / WAM Smart Dubai has upgraded its flagship “Dubai Now” application, designed to be the city’s one-stop shop for smart services, which will allow users to donate to four types of beneficiaries during the Year of Tolerance. Launched in collaboration with the Dubai Department of Finance (DoF), the new feature offers a platform in which donations can be made ...