Local News

Zayed torch relay to see 1,000 students participate

Dubai / WAM Over 1,000 school students from more than 80 private schools in Dubai will unite to celebrate the UAE National Sports Day and honour the legacy of the late Sheikh Zayed bin Sultan Al Nahyan as part of a major sporting event on Wednesday. The 15-kilometer torch relay will start from Etihad Museum at 08:30 on Wednesday, where ...

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ADFD finances three projects worth AED424mn in Albania

ABU DHABI / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, welcomed a high-level delegation from Albania at its headquarters. Headed by His Excellency Erion Veliaj, Mayor of Tirana, the delegation met with His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD and explored potential areas of cooperation. His Excellency Ermal Dredha, ...

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LuLu to set up AED300mn central logistics hub at DWSC

DUBAI / Emirates Business Dubai Wholesale City (DWSC) has signed an agreement with LuLu Group International, the top retailer in the Middle East, to set up a AED300 million Central Logistics Hub at the region’s largest fully integrated wholesale hub. Spanning an area of 1.3 million square feet, the central logistics hub is estimated to take shape within 30 months ...

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Sharjah Airport Authority gets ISO certification

Sharjah / WAM The Sharjah Airport Authority (SAA), obtained ISO10002: 2014 for Customer Satisfaction, relating to the charter of customer service and complaint management system. This achievement reflects SAA’s keenness to raise the level of its customer’s satisfaction by dealing with their complaints as soon as possible. The ISO certificate was given to Sharjah Airport Authority’s Medical Centre, after completing ...

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Workshop on ‘Mastering Google Analytics’ held

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry hosted a workshop at its premises which provided Chamber members and businesses in Dubai with hands-on training in Google Analytics to boost website performance and improve return on investment of marketing campaigns. The training covered the basics of intelligent data collection and analysis, and educated companies on how to ...

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Union Coop posts record AED2.9bn revenue in 2017

DUBAI / WAM Driven by a robust performance and operation, Union Coop, the largest consumer cooperative in the UAE, posted revenues of AED2.9 billion in 2017, the highest since it was founded in 1982. Khaled Humaid Al Falasi, CEO of Union Coop, said shareholders’ rights grew 19 percent in 2017 to AED 2.5 billion from AED2.1 billion in 2016. He ...

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DP World to begin work on Somaliland freezone

DUBAI / WAM The final agreement to develop a greenfield economic free zone in Somaliland to complement the growth of the Port of Berbera has been signed between DP World and its government in Dubai. The global trade enabler expects to break ground on the 12 square kilometre free zone project this year. Located next to the port, it will ...

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Indonesia lists $3bn sukuks on Nasdaq Dubai

DUBAI / WAM The government of Indonesia on Sunday listed two sukuks with a total value of $3 billion on Nasdaq Dubai. The collaboration underlines the close relations between the UAE and Indonesia, the world’s most populous Muslim country, as well as Dubai’s growth as the global capital of the Islamic Economy. The Indonesian government is the largest sukuk issuer ...

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EGA ‘well prepared’ for US tariff threat

ABU DHABI / Reuters Emirates Global Aluminium (EGA) said on Sunday it was “well prepared” for any market conditions should US President Donald Trump go ahead with sweeping tariffs on steel and aluminium imports. “Alongside Europe, Asia and the United Arab Emirates, the US is an important market for EGA,” the company’s spokesman told Reuters. “We are well prepared for ...

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Al Hilal Global Sukuk Fund delivers 17.78% dividend

Abu DHABI / WAM Al Hilal Bank has announced the dividend payout of its Al-Hilal Global Balanced Fund. The Fund, which was launched in 2014, distributed a 17.78% dividend to all registered unit holders as of February 8, constituting 100% of the distributable income as verified by the Fund’s independent auditors. Al Hilal Global Balanced Fund aims to generate appropriate ...

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