Local News

Dubai / Emirates Business Abu Dhabi National Insurance Company (Adnic) has completed the conversion of the mandatory convertible bonds it issued on June 15, 2016 into shares after reaching their three-year term. Following the conversion, Adnic’s paid up capital increased to AED570 million and the total number of Adnic shares to 570 million. The 195 million newly converted shares are ...

Dubai / Emirates Buisness Union Cooperative, the largest Consumer Cooperative in the UAE, announced that all UAE citizens will soon be able to buy their shares and investing in Union Coop. HE Majid Hamad Rahma Al Shamsi, Chairman of Union Coop said: “This decision is a result of continuous efforts made by the Board of Directors over the past years ...

Dubai / WAM DP World, UAE Region has launched ‘The India-UAE Bridge’, a major initiative that will attract Indian trade and investments to its flagship Jebel Ali Port and Jafza by offering end-to-end solutions to companies and entrepreneurs. A joint collaboration of DP World UAE Region, Jafza and the Indian Business and Professional Council (IBPC), the solutions delivered under the ...

Abu Dhabi / WAM The Registration Authority of the Abu Dhabi Global Market (ADGM) signed a cooperation agreement with the Department of Land and Real Estate Regulation in Ajman (ARRA) to foster new business opportunities and strengthen economic integration between the two emirates. Through the agreement, companies registered in the ADGM will be able to own property in freehold areas ...

SINGAPORE / WAM Abu Dhabi Securities Exchange (ADX) represented by Acting Chief Executive Khalifa Salem Al Mansouri, has participated in the 7th edition of the World Islamic Banking Conference (WIBC) Capital Markets Summit Asia that concluded in Singapore. Under the theme ‘stre-ngthening investment outlook through robust capital markets’ the GCC-Asean investment forum was attended by more than 250 professionals. The ...

DUBAI / WAM Dubai ranked first in the Arab world and 11th globally in ‘Future Readiness’ in 2019, according to ‘Global Competitiv- eness of Talent’ report issued by Institute for Administrative Development in Switzerland in cooperation with the Dubai Competitiveness Office in the Department of Economic Development (DED). The report evaluated various cities worldwide around three main axes — investment ...

DUBAi / Emirates Business Dubai Land Department (DLD) announced the launch of the Real Estate Investment Opportunities (REIOs) initiative during a press conference. The new initiative is a new way to attract investors from all economic sectors. Before the launch of the project, a feasibility study was conducted, and the most prominent international experiences and local and global practices were ...

SHARJAH / WAM The Sharjah Executive Council (SEC) approved the second batch of housing support beneficiaries for 2019. The payment includes 274 beneficiaries acro-ss two categories — 96 grants and 178 loans — with the total valued at AED197.6 million. The announcement came during a SEC meeting on Tuesday at the Ruler’s office in Sharjah. The meeting was chaired by ...

Emirates Business The Middle East’s first car maintenance app — MySyara — launched its interactive platform in partnership with Shell Lubricants, providing users with complete car care solutions at the touch of a button. Disrupting the auto-care industry, Mysyara is the first smart phone application — available on iOS and android — that provides 360 car-care solutions including battery change, ...

ABU DHABI / wam Abu Dhabi is a leading international partner in addressing climate change, with ‘Noor Abu Dhabi’ as a pillar of the emirate’s sustainability plans to preserve the global ecosystem, said Awaidha Al Marar, Chairman of the Abu Dhabi Department of Energy. Al Marar added that Abu Dhabi’s commitment to implementing the Paris Agreement 2015 and its dedication ...