Local News

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 ...

Abu Dhabi / WAM Tawazun Industrial Park (TIP), and the Emirates Defence Companies Council (EDCC), have signed a Memorandum of Understanding (MoU), under which the Park will provide a special package of facilities and benefits to the member companies of the Council. The memorandum seeks to establish a framework for collaboration between the TIP and EDCC to enhance the strategic ...

Abu Dhabi / WAM Mohammed bin Ahmad Al Bowardi, Minister of State for Defence Affairs, has said that the specialist exhibitions hosted by the UAE, especially those related to advanced technologies, such as the Unmanned Systems Exhibition and Conference (UMEX, 2018), and the Simulation and Training Exhibition (SimTEX), 2018, have helped to promote the UAE’s strategy of innovation, to accelerate ...

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, on Monday received Juan Carlos Varela, President of Panama, who is currently visiting the country. Sheikh Mohamed welcomed President Varela and his delegation, saying that the visit will contribute in enhancing friendly relations and ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received President Juan Carlos Varela of Panama on Monday. His Highness welcomed President Varela in the presence of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council. During ...