Local News

Dubai / Emirates Business The Dubai International Boat Show is readying for 2019, returning to the UAE’s most impressive city with a new look show celebrating all that makes a boating lifestyle so incredible. Heading into its 27th year, the Boat Show – taking place at the Dubai Canal from February 26 through March 2 – will once again gather ...

Abu Dhabi / WAM Emirates Global Aluminium (EGA), and the aluminium sector which has grown around it, have generated economic activity accounting for 1.4 percent of the entire UAE economy, according to an expert study. The sector also supported 60,950 UAE jobs in 2017. One in every 100 people working in the UAE is employed in the aluminium sector, its ...

HODEIDAH / WAM The Houthi militias broke the ceasefire agreed in Sweden under United Nations auspices hours after it came into force, according to a source in the Yemeni resistance. The source said that the Houthis had shelled the May 22 hospital and several factories with mortars and rockets. The source added that the attack by the militias had caused ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, today allocated a government grant worth $50 million (AED184 million) to support the Chadian government in achieving its development goals. The funding will contribute to driving financial stability in the Central African country and fuel the growth of key sectors. The funding ...

BUCHAREST / WAM Romanian Minister of Communications and Information Society Alexandru Petrescu affirmed his country’s interest in advancing cooperation with the UAE in the telecommunications sector, which is a key element in the development of other sectors. This came during a meeting – at the ministry’s headquarters in Bucharest – with the UAE Ambassador to Romania Dr. Ahmed Abdullah Al ...

Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) introduced a new business to business (B2B) online platform that will deliver an enhanced technological backbone to the emirate’s attractions and experiences, offering them integrated digital support and wider visibility among both domestic stakeholders and global markets. Launching in January 2019, the B2B ‘Attractions Marketplace’ has been ...

ABU DHABI / WAM A total of 22.5 million cheques worth AED1.2 trillion were handled by the UAE Clearing Cheque System during the first 11 months of 2018, according to statistics released by the Central Bank of United Arab Emirates (CBUAE). The cheques handled from January through November account for 80 percent of the total value of cheques handled throughout ...

ABU DHABI / Emirates Business Abu Dhabi Terminals (ADT) and CSP —Abu Dhabi sign an MoU to strengthen collaboration and ensure smooth transactions between the two facilities. The MoU promises to increase cooperation between two companies, benefitting Abu Dhabi and UAE trade and supporting Abu Dhabi Leadership vision 2030. The two parties will facilitate a significant increase in contribution to ...

Dubai / WAM Investment Corporation of Dubai (ICD) announced its consolidated financial results for the six month period ended on June 30, having achieved revenues of AED115.1 billion and net profit of AED10 billion. Revenues grew across all operating segments with the largest increases in oil and gas and transportation services. Net profit reached AED10 billion. Net profit benefited from ...

ABU DHABI / WAM The owners of the 402-megawatt (MW) Dudgeon wind farm in Britain’s North Sea, Masdar, Equinor and China Resources Group, have announced the signing of a hybrid refinancing that includes approximately GBP561 million (AED 2.6 billion) of commercial bank debt and GBP706 million (AED 3.275 billion) of senior secured notes privately placed with institutional investors, finally maturing ...