Local News

ABU DHABI / WAM With effective and timely action, the world’s most valuable resource – its oceans – could be saved. In creating a sustainable ocean economy, countries around the globe have a real chance at protecting their biodiversity and safeguarding their food and climate security. These were the key takeaways on day one of the sixth World Ocean Summit, ...

Dubai / WAM Dubai Municipality announced that 29,000 building permits were approved by the municipality in 2018, while 6,043 buildings were completed last year. Dawoud Al Hajri, Director-General of Dubai Municipality said that the total area of construction completed in 2018 was 100 million square feet, a six percent increase in Dubai’s urban construction sector compared to that of 2017. ...

Dubai / Emirates Business United Arab Emirates ranks first in the region and third globally, after China and India, for a fifth consecutive year, according to the 2019 Agility Emerging Markets Logistics Index. In Agility’s 10th annual ranking of 50 leading emerging markets, a broad gauge of competitiveness based on logistics strength and business fundamentals, Gulf countries outperform most others. ...

Dubai / WAM The UAE Cabinet approved public holidays for the public sector for the years 2019-2020, and granted the private sector equal official holidays, a total of 14 official public holidays. The decision aims at enhancing the balance between the two sectors and supporting the national economy in its various fields. The decision will contribute to streamlining work in ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, announced the allocation of AED1 billion for infrastructure projects in Fujairah as part of the 2017-2021 five-year plan being implemented by the Ministry of Infrastructure Development on the eastern coast. His Highness also approved the allocation of AED400 million to build ...

Dubai / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, on Tuesday inaugurated Middle East Electricity 2019 – the 44th edition of the region’s leading event for the power industry. Held under the patronage of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and hosted by ...

Dubai / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, issued the financial circular No. (10) for 2019 on the preparation of the draft general budget of the federation for the fiscal year 2020. This year is the fourth of the five-year plan for 2017-2021, and the circular set March 22 ...

ABU DHABI / WAM The realty sector attracted the largest share of liquidity on the country’s two main bourses during the first two months of the current year. Up to AED4.45 billion of real estate transactions were conducted in January and February, accounting for 24.4 percent of the total trades, valued at AED18.2 billion, according to official figures obtained by ...

Dubai / Emirates Business Dubai Chamber of Commerce and Industry honoured 33 companies for their corporate social responsibility and sustainability efforts in the second half of 2018 during a recognition ceremony recently held at its premises. The Dubai Chamber CSR Label was presented to Landmark Group and United Engineering Construction Company for the first time. Congratulating the awardees for their ...

Dubai / WAM Dubai Mercantile Exchange (DME), on Monday announced a 160 percent increase year-on-year in trading activity on the exchange’s forward curve. The forward curve represents the value of Oman Blend Crude Oil in future months. Activity in the forward curve happens when customers want to protect themselves against the risk that the price of Oman crude oil will ...