Local News

Abu Dhabi / Emirates Business Majid Al Futtaim has officially broken ground in Masdar City on its first shopping mall in Abu Dhabi, My City Centre Masdar. Amana Steel Contracting LLC has begun main works as the company’s main contractor on the project. “My City Centre Masdar, Majid Al Futtaim’s first shopping destination to open in Abu Dhabi, will exemplify ...

DUBAI / Reuters DXB Entertainments is expecting an improved 2018 after reporting a 1.12 billion dirham ($305 million) loss for last year, the CEO of the Dubai-based theme park operator told Reuters on Monday. The company also announced it had reached a deal with banks to restructure 4.2 billion dirhams in debt and had received fresh funding from its majority ...

DUBAI / WAM DP World has won a 30-year concession with an option of a further 20-year extension for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC). The Port of Banana will be the first deep-sea port in the country along its small coastline of 37 kilometres, which currently only ...

ABU DHABI / WAM Dubai non-oil external trade with South Korea grew eight percent in 2017 to reach AED27.43 billion, of which AED22.1 billion were in imports, AED 4.47 billion in exports and AED866 million in re-exports, compared to 2016. South Korea is Dubai’s eighth biggest trade partner in imports and ninth in exports. Ahmed Abdul Salam Kazim, Director of ...

ABU DHABI / reuters Abu Dhabi has folded utility Abu Dhabi Water & Electricity Authority (Adwea) into the emirate’s newly established department of energy as part of a consolidation of state-owned entities, a spokesman for the department said on Sunday. The Regulation & Supervision Bureau (RSB), which oversees water, waste water and electricity in Abu Dhabi, will also become part ...

DUBAI / WAM Mashreq Bank received the Service Olympian Award for ‘Best Call Centre 2018’. The award celebrates excellence in customer service delivery. Sumit Bhatia, Head of Direct Business Channel at Mashreq Bank, said, “We are pleased to have been recognised as the Best Call Centre by the Service Olympian Awards. This is a testament to the hard work of ...

Abu Dhabi / Reuters Inflation in the United Arab Emirates eased slightly in February after jumping to a multi-year high in January when the government introduced a 5 percent value-added tax, official data showed on Sunday. The annual inflation rate came down to 4.5 percent last month from 4.8 percent in January, which was the highest level since 2015. Month-on-month, ...

DUBAI / WAM The UAE Food Bank’s Board of Trustees recently approved its strategy of sponsorship privileges. The strategy emphasises the need to allow for the participation of all sectors of society in different categories of sponsorship of thefood bank, especially as the UAE is one of the leading countries in the field of charitable work. Khalid Mohammed Sharif Al ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said that the warm ties between the UAE and the Republic of South Korea were an outstanding example of how two countries could base their relationship on trust, common interests and mutual understanding on ...

Abu Dhabi / WAM Abdulraqeeb Fatah, Yemen’s Minister of Local Administration and Chairman of the Higher Commission for Relief, has described relief efforts for Yemeni citizens, directly supported by the UAE and Saudi Arabia, represent progress and development for the country’s liberated areas. He added that the projects launched by the UAE and Saudi Arabia, through the ERC and the ...