Local News

Dubai / WAM The UAE is launching a fiscal risk management project with the IMF’s help and will produce its first fiscal stress test this year, according to Christine Lagarde, Managing Director and Chairwoman of the International Monetary Fund (IMF). Speaking at the main session of the Fourth Annual Arab Fiscal Forum organized by the IMF, Arab Monetary Fund, AMF, ...

Sharjah / WAM The Big Heart Foundation (TBHF), a Sharjah-based global humanitarian organisation dedicated to helping people in need worldwide, announced the commencement of a project to establish the first Ready Made Garments (RMG) Factory for Kids Wear, in Upper Egypt. The project, to be implemented by Egypt Network for Integrated Development (ENID), under the United Nations Development Programme (UNDP), ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced the award of a dredging, land reclamation and marine construction contract to build multiple artificial islands in the first phase of development of the Ghasha Concession. The contract awarded to the UAE’s National Marine Dredging Company (NMDC) is valued at AED5 billion ($1.36 billion) and will ...

DUBAI / WAM Nasser bin Thani Al Hameli, Minister of Human Resources and Emiratisation, met Zulfiqar Hussain Bukhari, Special Assistant to Prime Minister for Overseas Pakistanis and Hum-an Resource Development. The two sides re-affirmed their countries’ commitment towards developing the historic ties between the two nations in terms of work force. The meeting touched on the country’s strategic policies and ...

Dubai / WAM Dubai Police have launched an initiative that will entitle drivers to a 100 percent reduction on existing fines, under the condition that drivers do not commit any violations for a full calendar year starting from February 2019. Under the new initiative, drivers who do not commit any traffic violations for three months will be eligible for a ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday attended part of the Third Forum of UAE’s Ambassadors and Representatives of Diplomatic Missions, which started on February 2 and will wrap up on Thursday. His Highness Sheikh Mohamed attended panel sessions ...

Abu Dhabi / WAM The Federal National Council (FNC), during its session on Wednesday at its headquarters in Abu Dhabi headed by its Speaker, Dr. Amal Abdullah Al Qubaisi, approved a draft federal law regulating practising the medical profession. Its provisions apply to all those who practice or request to practice the profession inside the country including the free zones. The ...

Dubai / WAM Dubai Islamic Bank (DIB), rang the market-opening bell on Wednesday to celebrate the listing of a $750 million Sukuk on Nasdaq Dubai. The Sukuk was 4.9 times oversubscribed with a profit rate of 6.25 per cent per annum, with nearly 40% of investor interest coming from outside the Middle East. As a perpetual non-call 6-year Sukuk, it was ...

Abu Dhabi / WAM Hussain Jasim Al Nowais, Chairman of Khalifa Fund for Enterprise Development, and Saadou Sidou, Nigerien Minister of Trade and Private Sector Development, have signed a $25 million (AED92 million) agreement aimed at providing support for micro, Small and Medium-sized Enterprises (SMEs), in Niger, where the amount will be distributed in equal instalments. This came during a ...

Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (Enec) and its subsidiaries, the Nawah Energy Company and Barakah One Company, hosted an Innovation Majlis, a hackathon, and youth events as part of its UAE Innovation Month activities. The initiatives were designed to foster and sustain a culture of innovation, future planning and adoption of smart solutions across all of Enec’s ...