Local News

SHARJAH / WAM Industrial production in Sharjah reached AED41 billion in 2018, according to the Sharjah Economic Development Department (SEDD). The industrial licences indicator showed some remarkable achievements, whereas the number of issued industrial licences grew by 14 percent in 2018 as compared to 2017 with 174, and 1890 renewed. According to a report from the department, the contribution of ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, awarded an advisory contract to EY, a global leader in assurance, tax, transaction and advisory services. The contract will allow EY to extend its insights and quality services and solutions in the areas of strategy and operational transformation to the federal agency of the UAE mandated to ...

DUBAI / WAM The National Bank of Ras Al-Khaimah, Rakbank, has announced a consolidated net profit of AED917.5 million for fiscal year FY 2018, an increase of AED107 million over the previous year. As at December 31, 2018, the bank’s total assets stood at AED52.7 billion, growing by 8.5 per cent compared to 2017. Gross loans and advances were AED34.8 ...

ABU DHABI / WAM Emirates Steel, a subsidiary of the General Holding Corporation (Senaat), has signed a strategic agreement with Abu Dhabi Marine Services (Safeen), a subsidiary of Abu Dhabi Ports, valued at AED1 billion ($270mn). The agreement was signed by the Chief Executive Officer of Emirates Steel, Saeed Ghumran Al Remeithi, and Captain Mohamed Juma Al Shamisi, Chief Executive ...

DUBAI / WAM The UAE has managed to achieve a qualitative leap in its economy during the recent years due to the adoption of a forward-looking strategy and in anticipation of strategic plans for the future, according to the Ministry of Economy. This move has strengthened UAE’s position on the map of the world economy, the ministry said in a ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited the 44th Arab Health Exhibition, which is being held at the Dubai World Trade Centre (DWTC) on Wednesday. His Highness Sheikh Mohammed bin Rashid toured the four-day exhibition, which is hosting many major international companies in the healthcare ...

Abu Dhabi / WAM His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), stated that the ERC has expanded its international humanitarian activities, due to the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan. He made this statement to mark the 36th anniversary of ...

Sharjah / WAM The UAE’s education market is set to grow from $4.4 billion in 2017 to $7.1 billion by 2023, according to a recent study by Boston Consulting Group. The rising participation of educational institutions and increasing student footfalls at the 15th International Education Show 2019 at Expo Centre Sharjah reflect a booming education sector in the country that ...

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), on Wednesday announced the full implementation of the Committee of Sponsoring Organisations of the Treadway Commission (COSO), Internal Control Framework in its operations. As the first government institution in the emirate of Abu Dhabi to roll out the effective system, ADFD confirmed that the framework will help enhance its monitoring and ...

KASSALA / WAM The UAE implemented four water pumping stations west of the Sudanese State of Kassala and signed contracts with the state government to drill 10 water wells, with work underway to establish additional pumping stations fed by Atbara River to address the severe drinking water crisis. The Abu Dhabi Crown Prince Court is funding the developmental projects as ...