Local News

Dubai / Emirates Business Following the success of ‘Day without Service Centers’ initiated by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and launched by the Department of Finance in October 2017, Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), has rolled out ...

DUBAI / Emirates Business During the Global Alliance for Building and Construction (GABC) Assembly, Dubai Land Department (DLD) was awarded membership to assembly’s executive committee along with prestigious international organisations from five other countries. The GABC Assembly was hosted by DLD and inaugurated by  Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, in presence of Sultan ...

DUBAI / Emirates Business Gulf Craft, in conjunction with its exclusive Australian Dealer, Australian superyachts, is pleased to announce the delivery of the Majesty 100 M/Y ONEWORLD to an experienced Australian yacht owner. ‘Oneworld’ is fully customized for commercial charters in Australia and will soon commence operations on the East Coast of Australia with Oneworld Charters. Notis Menelaou, VP of ...

Abu Dhabi / WAM The China National Petroleum Corporation (CNPC), the world’s third largest oil company, has been awarded stakes in two of Abu Dhabi’s offshore concession areas following the signing of agreements with the Abu Dhabi National Oil Company (ADNOC) on Wednesday. Under the terms of the agreements, CNPC, through its majority-owned listed subsidiary PetroChina, has been granted a ...

ABU DHABI / AGENCIES President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued, in his capacity as the Ruler of Abu Dhabi, a law restructuring Abu Dhabi Investment Council (ADIC) whereby it will become part of the Mubadala Investment Company group. Abu Dhabi is combining two of its investment firms to create a wealth fund with assets of ...

Abu Dhabi / WAM Driven by the strategic partnership between Aldar and Emaar, the largest property companies on the local market, the UAE stocks posted AED5 billion gains. The DFM General Index closed on a high note of 3206 points, 00.75% up from the last traded session, with ADX General Index following suit at 4566 points, 0.91% higher than Tuesday. ...

DUBAI / WAM Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, met senior executives from India’s Tata Group to explore opportunities for cooperation, knowledge sharing, and best practice. Discussions covered logistics and supply chain operations, innovative customer care and creating high quality, sustainable services. Bin Sulayem outlined DP World’s operations across 40 countries, and its role in ...

ABU DHABI / WAM The 2017 non-oil gross domestic product grew 2.9 percent, while the oil real GDP growth was up 1.5 percent, with the country’s real GDP hitting 1.5 percent, according to a UAE Central Bank report that forecast the UAE GDP growth to amount up to 2.5 percent in 2018 and 2.8 percent in 2019. Government spending over ...

DUBAI / WAM The 18th edition of Dubai World Dermatology and Laser Conference and Exhibition (Dubai Derma) witnessed one more successful edition this year with the number of business deals sealed during the past three days reaching AED440 million, organisers announced on Wednesday. Anas Al Madani, Vice Chairman and Group CEO of INDEX Holding, the event organiser, said, “Over the ...

DUBAI / Reuters The government of Dubai has completed a project financing worth about $2.45 billion for the extension of the city’s metro rail system, Dubai’s Department of Finance said on Wednesday. The project envisages a 15 kilometre (9 mile) extension of the Dubai Metro’s Red Line, from Nakheel Harbour and Tower station up to the site of the World ...