Local News

Abu Dhabi / WAM The Abu Dhabi National Oil Company (ADNOC), is making smarter use of capital to fund an ambitious growth plans and accelerate delivery on the goals of its 2030 strategy, according to Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO. Speaking, in Abu Dhabi, at the Global Financial Markets Forum on ...

Abu Dhabi / WAM During the ninth session of the third ordinary session of its 16th legislative chapter, held on Tuesday and chaired by Dr. Amal Abdullah Al Qubaisi, Speaker of Federal National Council (FNC), the Council approved a draft federal law on arbitration. The provisions of the law will apply to all arbitrations within the country, as long as ...

DUBAI / WAM Passenger traffic at Dubai International (DXB), exceeded 7.9 million in January, according to the traffic report issued by operator Dubai Airports on Tuesday. DXB welcomed a total of 7,960,146 passengers in January, a small reduction of 1% compared to 8,037,008 recorded in January 2017 when passenger volumes were boosted due to Chinese New Year which fell in ...

DUBAI / WAM Mark McGowan, Premier of Western Australia, arrives for a two-day visit to the UAE on a mission to further strengthen the AED8.4 billion bilateral trade relationship between the UAE and Australia. It will be the first visit to the UAE by McGowan, whose state, the largest in the Commonwealth of Australia, is the country’s largest exporter of ...

Abu Dhabi / Emirates Business The UAE Banks Federation (UBF), a professional representative body comprising 49-member banks operating in the UAE, commended the banking sector’s contribution to the society, and urged its members to adopt more corporate social responsibility initiatives in 2018. Recognizing their CSR efforts over the decades, the federation said the various initiatives by the country’s banks have ...

Dubai / Emirates Business Cityland Mall which will be the world’s first ‘nature-inspired’ shopping destination remains on track for opening in Q4 2018 with construction of the mall continuing at a consistent pace. In terms of construction, 60 percent of the project has been completed as of February this year. In parallel, the leasing of the mall has also made ...

Abu Dhabi / WAM The Emirates News Agency, (WAM), and RT Television Network, Russian international television network, have signed a Memorandum of Understanding (MoU), to strengthen cooperation and facilitate the exchange of information including news and broadcast content. Mansoor Ibrahim Al Mansoori, Director-General of the National Media Council; Mohammad Jalal Al Rayssi, Executive Director of WAM, and Maya Manna, Head ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) signed an agreement with Japan’s INPEX Corporation awarding the company a 10 percent interest in Abu Dhabi’s offshore Lower Zakum concession. A wholly-owned INPEX subsidiary, JODCO Lower Zakum Limited, will hold and manage the interest in the concession on behalf of INPEX. The agreement, which comes into effect on ...

DUBAI / Reuters The emirate of Sharjah has picked banks including HSBC and Sharjah Islamic Bank to arrange a US dollar-denominated sukuk issue, sources aware of the matter said on Monday. The banks include several international and local lenders, the sources said. The government of Sharjah and HSBC declined to comment, while Sharjah Islamic Bank did not immediately respond to ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), has called on all businesses registered for the Value Added Tax (VAT), whose first tax periods end on January 31, to submit their tax returns and pay their due taxes no later than 28th February in order to avoid administrative penalties. Khalid Al Bustani, FTA Director General, said the Authority has ...