Local News

ABU DHABI / WAM The UAE has moved ahead four places in the area of exports in 2017, to occupy the 15th position internationally, surpassing Russia, Spain and Switzerland, while maintaining its leadership in the Arab region, Middle East and Africa, acco- rding to reports by International Trade Statistics and forecasts by the World Trade Organisation (WTO) in 2018. The ...

ABU DHABI / AGENCIES Aldar Properties announced on Sunday that its Foreign Ownership Limit (FOL) has been increased to 49%, from 40%, following completion of all regulatory formalities and will be implemented for trading effective from Sunday. This follows shareholder approval of the increase at Aldar’s 2018 Annual General Meeting, which was held on March 21. Talal Al Dhiyebi, CEO ...

ABU DHABI / WAM The Arab Bank for Investment and Foreign Trade donated AED1.7 million to the Zakat Fund, as part of the responsibility of banks in the UAE to provide zakat money to eligible beneficiaries through the Zakat Fund, by supporting its charity and humanitarian projects. The donation took place during a meeting between Abdullah Aqeeda Al Muhairi, Secretary-General ...

DUBAI / WAM The Emirates Centre for Transport and Leasing, a subsidiary of Emirates Transport (ET) announced the signing of a number of new and renewal contracts, expected to be worth AED590 million for the first quarter of 2018. The centre said that the contracts were signed with both government and private sectors for a term spanning three to five ...

DUBAI / Reuters Most United Arab Emirates interbank offered rates (EIBOR) rose on Sunday as the central bank introduced a new way of calculating them, seeking to make the system more transparent and reflect market conditions more accurately. The one-month rate edged up to 1.93500 percent from 1.92667 percent on Thursday, while the one-year rate jumped to 3.03998 percent from ...

DHAHRAN / WAM The Arab Summit started on Sunday its 29th ordinary session at King Abdulaziz International Cultural Center in Dhahran. The UAE delegation to the summit is led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai. King Abdullah II bin Al-Hussain of the Hashemite Kingdom of Jordan, the President ...

DHAHRAN / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, arrived on Sunday evening in Dhahran in the eastern region of the Kingdom of Saudi Arabia, to watch the Joint Gulf Shield-1 military drill at the invitation of the Custodian of the Two Holy Mosques ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, issued Law No. 05 of 2018 pertaining to volunteering in Dubai. The new Law, which regulates volunteering activity, seeks to promote social responsibility in society, stimulate positive social engagement and encourage people to serve their communities. The new Law ...

Abu Dhabi / WAM With increasing numbers of transit passengers across UAE airports, the UAE Cabinet is looking into ways to enhance transit visa procedures and allow stopover passengers to enjoy a day out in the city. The Cabinet approved the formation of a working group to propose a new general policy for transit visas in the UAE to promote ...

Dubai / WAM DMCC, the leading Free Zone for commodities trade and enterprise in Dubai, in collaboration with the United Nations Global Compact Network UAE, this morning staged its latest Knowledge Series event on sustainability. The aim of the event is to raise corporate social responsibility awareness among representatives of DMCC’s members – almost 15,000 companies. Delegates debated how best ...