Local News

ABU DHABI / WAM The banking sector increased their statutory reserves at the UAE Central Bank by AED8.6 billion during H1, 2017, bringing to AED125.5 billion the total required reserves by the end of June 2017, according to CB statistics. Statutory reserves are the minimum liquidity banks are required to hold against client deposits without getting interests in return. The ...

Dubai / WAM Dubai Aerospace Enterprise (DAE) has completed its previously announced acquisition of the AWAS group of companies in a move that propels DAE into the top tier of global aircraft lessors. DAE will now conduct its aircraft leasing business using the DAE Capital brand name. DAE Capital now features an owned, managed and committed fleet of approximately 400 ...

DUBAI / WAM Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry has said that a total of 28 commercial projects have been launched to date by its participants with a majority of Emirati-owned businesses operating within the UAE’s smart services, retail, logistics, and food and beverage sectors. A total of AED 15.4 million worth of financing ...

DUBAI / WAM Smart Dubai Government Establishment contact centre has received ISO 18295 certification, Parts I and II, as well as the CCA Global Certification for Contact Centre Management. This makes the centre the first in the world to receive the ISO certificates, awarded by the Switzerland-based International Organisation for Standardisation (ISO) and the first in the region to receive ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) discussed with European energy companies, Dubai’s efforts to develop renewable and alternative energy, rationalise the use of natural resources, and find alternative solutions to conventional energy. The discussion took place during his meeting with a delegation of these companies which included Daniel Develay, ...

DUBAI / Emirates Business wasl Asset Management Group, one of the largest real estate management and development companies in Dubai, is forging ahead at wasl1 – the company’s iconic parkside freehold master development in the heart of Dubai. Enabling works are now underway following the appointment of Kele Contracting for Phase 1 of the project. Hills & Fort Construction LLC ...

DUBAI / Emirates Business Gulf Sotheby’s International Realty – the international luxury real estate firm and SPF Realty announce a strategic merger, which will leverage Sotheby’s International Realty world renowned brand and SPF’s expertise in achieving record-breaking project sales in unprecedented timelines. Moving forward, SPF Realty will rebrand and operate under the Gulf Sotheby’s International Realty brand. This is a ...

DUBAI / Emirates Business Immensa Technology Labs, the UAE’s leading Additive Manufacturing (AM or 3D printing) company, has been awarded the prestigious ISO 9001:2015 certification in the field of ‘Design and Additive Manufacturing Services.’ The certification makes Immensa Technology Labs the first 3D printing company in the Middle East and one of only a few in the world to be ...

DUBAI / WAM Under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, Dubai Maritime Agenda 2017 has begun preparations to host a line-up of international speakers to explore the future of the maritime sector in adherence with local and nationwide efforts to prepare for a ‘post ...

ABU DHABI / WAM The Abu Dhabi Business Centre’s Department of Economic Development (DED) has completed e-linkage with the Telecommunications Regulatory Authority, TRA, bringing the total number of electronically linked federal and local governmental bodies to 37. The percentage of economic licence transactions that are now conducted electronically with all the linked bodies has reached 98 percent, according to officials. ...