Local News

  Dubai / Emirates Business The business of beauty is surging ahead in the Gulf Cooperation Council (GCC), as new research shows there’s increased spending on beauty and personal care products across the region. According to the latest figures by analysts Euromonitor International (EMI), the retail value of the GCC’s beauty and personal care market was US$9.3 billion in 2016, ...

  Dubai / Emirates Business Dr Aisha Bint Butti Bin Bishr, Director General of the Smart Dubai Office, was the official representative of Dubai at the World Economic Forum 2017 in Davos, Switzerland. As part of the forum, a panel discussion was held on global smart transformation of cities, during which Dubai’s participation held a strong presence. Along with Dubai, ...

  Sharjahi / Emirates Business Sharjah Islamic Bank (SIB) announced its 2016 financial results and achieved a net profit of AED 462.9 million in 2016 compared to AED 409.9 million last year; a 13% increase. SIB Board of Directors will propose a 10% bonus shares dividend, one share for each existing 10 shares, during the next AGM meeting. Total assets ...

  Dubai / Emirates Business UAE Exchange, the global remittance, foreign exchange and payment solutions brand, attracted UAE Nationals in the financial sector at the Tawdheef Recruitment Fair in Abu Dhabi National Exhibition Centre, from January 30 to February 1. Speaking on the occasion, Abdel Kareem Alkayed, UAE Exchange Country Head for the UAE, said: “We have made significant progress ...

  Dubai / Emirates Business Under the patronage of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Dubai Trade, the single window for cross-border trade and a DP World company, commended the winners of the 9th E-Services Excellence Awards (ESEA) held in Dubai recently. The annual award event is organised by Dubai Trade to recognise ...

  Dubai / Emirates Business Emirates NBD Asset Management’s Emirates Real Estate Fund (‘EREF’ or the ‘Fund’) has won Sector Fund of the Year at the 2017 MENA FM Performance Awards for the second consecutive year. The MENA FM Performance Awards recognised funds and asset managers that have outperformed their peers over the 12 month period ending December 31, 2016. ...

  Dubai / WAM DIFC Courts, Dubai’s establis- hed English-language commercial courts, handled cases totalling AED5.85 billion (US$1.59 billion), up 5 percent year-on-year, in 2016. The main Court of First Instance (CFI) handled approximately the same number of cases as in 2015 but saw the average value of each increase by 17 percent to AED104.58 million. The total value of ...

  RAS AL KHAIMAH / WAM Foreign trade in Ras al-Khaimah grew by 38 percent between 2011 and 2015, according to a study published by the local Chamber of Commerce and Industry, called “An analytical study about foreign trade in the emirate of Ras al-Khaimah”. Dr Ahmed Rashed Al Shamili, Assistant Director-General for Commercial Services and Business Development, said the ...

  ABU DHABI / WAM The Economic Committee of Abu Dhabi Executive Council’s General Secretariat organised a workshop for reviewing the results and recommendations of the study on the legislation of Emiratisation in the private sector. The year-long study, held under the Abu Dhabi Department of Economic Development, was conducted by a team whose members came from different organisations. It ...

  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, in his capacity as Chairman of the Executive Council of Abu Dhabi, has issued a resolution reconstituting the board of directors of Abu Dhabi Ports Company under the chairmanship of Dr Sultan Ahmed ...