Local News

ABU DHABI / WAM The Abu Dhabi Events Licensing System (ELS), which was launched earlier during the year by Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) has experienced unprecedented growth of 19.5 percent in total applications between Q1 and Q2. About 9,002 applications covering all types of events were submitted during the first half of 2017.

DUBAI/ Reuters Abu Dhabi government-owned Al Hilal Bank has raised $100 million through a private placement of sukuk, or Islamic bonds, sources familiar with the matter said on Monday. The issue, led by First Abu Dhabi Bank, has a two-year maturity and offers 90 basis points over three-month London Interbank Offered Rate (Libor). The bank, an Islamic lender, issued a ...

Dubai / Emirates Business Abu Dhabi International Airport (AUH) handled 11,928.609 passengers between January 2017 and June 2017, compared to 11,848,359 during the same period last year, registering an increase of 0.7%. As many as 1,763,103 passengers used the airport during the month of June 2017, registering as much as 5.3 % drop in traffic compared with the same month ...

DUBAI / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, visited the Expo 2020 Dubai Site Office and said he was encouraged by the developments on site. During the visit, His Highness was accompanied by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of ...

ABU DHABI / WAM Foreign investors’ purchases in July 2017 reached AED1.391 billion at Abu Dhabi Securities Exchange (ADX) accounting for 42.5 percent of total buy trades, whereas their sales stood at AED1.365 billion, comprising 41.7 percent of total sell trades, bringing to AED26 million the net foreign investments in July, with net institutional investments in the same month amounting ...

SHARJAH / WAM Air Arabia, a Sharjah-based low-cost airline, announced strong financial results for the second quarter of this year ending June 30, 2017. The company registered a net profit of AED158 million, an increase of 21 percent compared to the AED131 million reported for the same period last year, according to the financial results. The turnover increased to AED ...

Dubai / Emirates Business Smaat, the leading digital marketing and communications agency in the Kingdom of Saudi Arabia, announced its expansion into the United Arab Emirates, together with the launch of its digital marketing and communications services and consulting through its new office in Dubai Design District (d3) in the city of Dubai. The expansion through the Dubai office, which ...

Dubai / Emirates Business One of Dubai’s largest real estate brokerages, fäm Properties, has topped AED1.3 billion in residential property sales at City Walk, the new destination developed and managed by Meraas in the heart of Jumeirah. Firas Al Msaddi, the fäm Properties CEO, said that the bulk of sales were to first- time buyers of buildings, while just over ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and the Responsible Finance and Investment Foundation (RFI) have announced the setting up of a partnership to bolster the growth and sustainability of the FinTech ecosystem through financial inclusion and ethical and responsible finance practices. The collaboration agreement was signed by Blake Goud, Chief ...

ABU DHABI / WAM The Abu Dhabi Events Licensing System (ELS), which was launched earlier during the year by Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) has experienced unprecedented growth of 19.5 percent in total applications between Q1 and Q2. Operated by TCA Abu Dhabi on behalf of Abu Dhabi Government, the ELS, a mandatory register of all ...