Local News

Abu Dhabi / WAM Abu Dhabi Farmers’ Services Center (ADFSC) conducted about 200 thousand extension visits to Abu Dhabi farms during 2017, focusing on providing technical and guidance support to farm owners and workers, raising their awareness of the best agricultural practices, methods of modern agriculture and optimum water use, with the aim to help increase farm productivity and improve the ...

COLORADO / WAM A high level delegation representing the UAE Space Agency participated in the 34th Space Symposium, held this week in Colorado, USA. The Symposium brought together space leaders from different parts of the space sector including government, industry, and military experts from around the world. Led by Dr. Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State ...

DUBAI / WAM Dubai Investments has announced the decision to distribute 12 percent cash dividend to its shareholders for the financial year ending on December 31, 2017. A proposal to this effect was approved by the shareholders at the company’s 22nd Annual General Meeting on Wednesday. The company presented its 2017 financial results, which revealed a net profit of AED1,001.6 ...

ABU DHABI / AGENCIES Aldar Properties has signed a Memorandum of Understanding (MoU) with Hyperloop Transportation Technologies (HyperloopTT), the innovative transportation and technology company, that will allow for the creation of a new HyperloopTT centre including a full scale commercial Hyperloop system, an Hyperloop R&D Advanced Mobility Centre, a Demonstration and Visitor Centre, and an Innovation Hub. The construction site ...

DUBAI / WAM Emirates Islamic Bank has announced a net profit of AED209 million during its Q1 2018 supported by growth in core income, efficient cost management, and an improved cost of risk. The bank’s balance sheet remains strong with improvements in credit quality and liquidity. The net profit was up 2 percent quarter on quarter (q-o-q), and declined by ...

ABU DHABI / WAM Abu Dhabi National Energy Company, also known as Taqa, raised $1.75 billion in a two-tranche dollar denominated bond issue that was 4.7 times oversubscribed. The two tranches consisted of bonds with maturities of seven years with a coupon of 4.375 percent, and bonds with maturities of 12 years with a coupon of 4.875 percent. The issue ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry organised a trade mission to Chengdu where delegates explored prospects for boosting economic cooperation between Dubai and China’s Sichuan Province. The Chamber-led delegation, represented by top UAE government officials and business leaders, participated in the Chengdu-Dubai Business Forum 2018 during their visit which coincided with the Chengdu Dubai International ...

Abu Dhabi / Emirates Business Abu Dhabi Ship Building Company (ADSB), a leading provider of construction, repair and refit services for naval, military and commercial vessels, has launched two 64-meter landing ships for the Kuwait Naval Force as part of a contract to build eight naval ships to support Kuwait’s military capabilities. The ships were launched during a ceremony held ...

ABU DHABI / WAM ­­(ADGM), and Plug and Play, the world’s global innovation platform, have announced the establishment of ‘Plug and Play ADGM’ office and announced the go-live date for its signature FinTech innovation programme for Abu Dhabi and the wider Middle East and North Africa (MENA), region. The Plug and Play ADGM programme will be available in Q3 2018 ...

Dubai / Emirates Business Dubai Land Department (DLD) announced that from this month, it will be using Artificial Intelligence (AI) to verify ‘Ejari’ contracts. The new technology is part of DLD’s latest governance system for verifying lease contracts, and the AI will be used to correctly match contract signatures with those in the department’s database. The new system is aligned ...