Local News

DUBAI / Reuters Manufacturer JBF RAK, which is 60 percent owned by the United Arab Emirates’ Ras al-Khaimah Investment Authority (RAKIA), is in talks with banks about renegotiating around AED2bn ($544.6 million) of debt, banking sources said. The polyester producer, which according to its website is an affiliate of India’s JBF Group, has contacted lenders about reviewing its debt obligations, ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, the widow of the late Sheikh Zayed bin Sultan Al Nahyan, hailed the decision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to declare 2018 as the “Year of Zayed”. In a statement on the occasion, the Chairwoman of the General Women’s Union, Supreme Chairwoman of the Family Development ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) and service company KPMG have come together to launch the first ever FinTech Abu Dhabi Innovation Challenge on October 22 in Abu Dhabi to enable start-ups to access industry-leading solutions that address emerging business challenges in the financial services industry. The Innovation Challenge, as part of the inaugural FinTech Abu Dhabi ...

Ajman / Emirates Business In a significant enhancement of its initiatives to attract investments into the UAE from global markets, Ajman Free Zone (AFZ), said that it has identified five new key markets where it will set up hub offices this year as part of its global investor outreach strategy. In a statement, AFZ said the expansion of the free ...

ABU DHABI / WAM Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, in addition to the Port of Fujairah and the Khalifa Industrial Zone Abu Dhabi, has been awarded the ISO 22301 certification for its Business Continuity Management System (BCMS). The certification is a business continuity management benchmark, ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, is to participate in the fourth edition of World Green Economy Summit (WGES 2017), organised under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, set to be held on October ...

Abu Dhabi / WAM Etisalat’s goodwill amounted to AED14.65 billion during the H1 of 2017 from AED14.09 billion during the corresponding period in 2016. The growth translates the company’s resounding success in keeping its eminent position as a leading entity at the communications sector, not only in the UAE only but also in the Arabian Gulf and Middle East region ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has invited companies involved in solar photovoltaic (PV) technology to participate in the second Dubai Solar Show; the region’s largest solar energy exhibition, organised by DEWA, in conjunction with the 19th Water, Energy, Technology, and Environment Exhibition (WETEX) 2017. Both events are organised under the directives of Vice President and Prime ...

ABU DHABI / WAM Gulf Capital, an Abu-Dhabi based alternative asset management company, announced a long-term ‘platinum’ corporate membership with Emirates Wildlife Society in association with WWF (EWS-WWF), the local environmental NGO which is committed to protecting the UAE’s natural heritage. As a platinum member, Gulf Capital will support EWS-WWF’s initiatives in the UAE, including marine and terrestrial conservation, environmental ...

Sharjah / Emirates Business In the presence of Sheikh Sultan bin Ahmed Al Qasimi, Chairman of the Sharjah Media Council; HE Dr Khalid Omar Al Midfa, Chairman of the Sharjah Media City (Shams) met HE Marwan Bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq), at the interim premises of Shams. The meeting was an occasion to ...