Local News

Sharjah / Emirates Business Sharjah Investment and Development Authority (Shurooq) has signed a second Memorandum of Understanding (MoU) with Korea’s global investment corporation REI Holding Group, to encourage bilateral investments, collaborate on industry information and expand business networks in both countries. The agreement follows on the recently announced MoU between Shurooq and REI’s Haewon Medical Foundation Sejong General Hospital to ...

ABU DHABI / WAM Nawah Energy Company (Nawah), the nuclear operating joint venture company established by Emirates Nuclear Energy Corporation, (enec), and Korea Electric Power Corporation (Kepco), celebrated successful graduation of 195 students who are specialising in nuclear energy as part of the ‘Energy Pioneers’ scholarship programme. The graduates completed nuclear science and technology focused courses from various institutions of ...

Dubai / WAM The Business Park at Dubai South has announced it has entered into a strategic partnership with the Union of European Expert Chambers, UCEE, to establish a permanent exhibition and business centre for the members of the UCEE at the Business Park. The partnership aims to encourage European SMEs to set up their business in Dubai and the ...

Abu Dhabi / WAM The Department of Energy (DoE), issued an ‘Electricity Generation Licence’ to Barakah One Company, the joint venture subsidiary company owned by the Emirates Nuclear Energy Corporation (Enec), and the Korea Electric Power Corporation (KEPCO). The licence is a key regulatory requirement before operation of the peaceful Barakah Nuclear Energy Plants in Al Dhafra, Abu Dhabi. The ...

Abu Dhabi / Emirates Business The UAE Banks Federation (UBF) hosted a six-hour workshop examining the key issues around the upcoming implementation of the Basel III Accord. The event was held on Wednesday in Abu Dhabi, and the sessions have been arranged by the UBF Risk Management Committee (UBF-RMC) in association with Moody’s Analytics, with the aim to help the ...

Dubai / WAM Dubai’s Department of Tourism and Commerce Marketing, Dubai Tourism, and Saudi Al Tayyar Travel Group, have formed a strategic alliance with the aim of further enhancing Dubai’s position as the preferred destination for Saudi visitors. The partnership will pave the way for launching unique initiatives that will help expand Dubai Tourism’s marketing reach and visibility within Saudi ...

Abu Dhabi / WAM During its visit to the headquarters of the Abu Dhabi Global Market (ADGM), a delegation from the Board of Directors of the International Chamber of Commerce (ICC, UAE), led by Humaid Mohammed bin Salem, Chairman of the Board of Directors, was briefed about the key achievements and successes of the ADGM and its long-term plans. The ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank, on Tuesday reported an H1 2018 group net profit of AED6.1 billion, up 10 percent year-on-year; with annualised earnings per share (EPS) standing at AED1.08. Meanwhile, operating income reached AED9.8 billion in the period between January and June. Cost-to-income ratio (ex-integration costs) at 25.7 percent continues to ...

Abu Dhabi / WAM The UAE has created 16 catalysts that have helped to attract foreign direct inves- tment (FDI) according to relevant national statistics for the end of 2017. Along with its political, economic, social and security stability, the country’s geographic location, competitiveness, free-market policies, encouragement for the private sector, and attractive investment environment have enabled it to lead ...

Abu Dhabi / Emirates Business Etisalat Group on Tuesday announced its consolidated financial results for H1 ending on June 30, 2018. The group’s consolidated net profit for first half of 2018 amounted to AED4.3 billion, representing 6% increase year over year, while the consolidated revenues amounted to AED26.2 billion, representing 4 percent increase year over year. Essa Mohamed Al Suwaidi, ...