Local News

Abu Dhabi / WAM The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, organised the Zayed Loyalty March, to mark the ‘Year of Zayed’ and the centenary of the birth of the late Sheikh Zayed bin Sultan Al Nahyan. The march – which is an embodiment of the love, loyalty and gratitude that the Emirati nation have ...

Dubai / WAM Under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, the Sustainable Communities and Climate Change Summit (SCCCS), will be organised by the Ministry of Climate Change and Environment (MOCCAE), in partnership with the Dubai Land Department and Majid Al Futtaim, on April 22 ...

Fujairah / WAM Total oil product stocks in Fujairah stood at 18.134 million barrels, down 2.6 percent or 486,000 barrels from a week earlier, following a sharp draw in middle distillates stocks, according to the latest data from the Fujairah Energy Data Committee, or FEDCom. Stocks of middle distillates were down by more than a quarter to 2.119 million barrels, ...

Abu Dhabi / WAM Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation, announced that the UAE will host the Gavi 2018 mid-term review. The high-level conference will be held in Abu Dhabi on December 10-11, and will lay out a vision for the future of the Gavi model, providing an opportunity to take stock of Gavi’s performance ...

Dubai / WAM The Dubai International Financial Centre (DIFC), on Wednesday announced three new strategic initiatives as part of the economy-boosting initiatives recently reviewed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, aimed at catalysing economic growth in Dubai and cementing its global status as a competitive business destination. ...

ABU DHABI / Reuters Abu Dhabi-based developer Aldar Properties plans more acquisitions as it sees opportunities in a slowing property market, its chief executive said on Tuesday. Late last year, Aldar bought an office tower in the emirate for AED658 million ($179 million). “We are seeing ample opportunities of new acquisitions in these market conditions in Abu Dhabi and elsewhere,” ...

DUBAI / WAM Emirates NBD announced that it has launched its own private cloud platform. It is the first bank in the region to implement a private cloud platform that leverages similar technologies to cloud-native companies, marking a major milestone in the Emirates NBD Group’s ongoing AED1 billion IT transformation. Through its new private cloud technology, the bank’s IT platforms ...

ABU DHABI / WAM Monetary deposits at the UAE Central Bank stood at AED55.8 billion in the first quarter of 2018 while withdrawals reached about AED55 billion, according to the figures released by the UAE Central Bank on Tuesday. “Value of deposits in banknotes was AED5,578 million against AED23 million for currency in coins,” the figures indicated. “Monetary deposits were ...

DUBAI / Reuters Dubai-based Noor Bank has started marketing a five-year sukuk worth $500 million with an initial price guidance of around 175 basis points over mid-swaps, a document from one of the banks leading the transaction showed. Noor Bank, rated A-(minus) by Fitch, plans to price the senior unsecured Islamic bonds later on Tuesday. Citi, Deutsche Bank, Dubai Islamic ...

ABU DHABI / WAM Etisalat announced its partnership with Indra to enhance and widen its digital solutions portfolio in multiple sectors, allowing both parties to share best practices and training, industry expertise, explore business opportunities, and strengthen their position in the markets they operate. Indra, offers a comprehensive range of proprietary solutions and specialises in the development of end-to-end technology ...