Local News

Dubai / Emirates Business Etisalat on Monday announced the launch of ‘Hello Business Pitch’ competition designed to encourage home grown Small and Medium Businesses (SMBs) and start-ups as well as to promote the growth and innovation of businesses in the UAE. Etisalat’s ‘Hello Business Pitch’ provides an opportunity for start-ups to pitch their business ideas in front of an expert ...

Sharjah / Emirates Business In continuation of their efforts to equip new and established women entrepreneurs with cutting-edge business skills, The Sharjah Business Women Council (SBWC) is organising ‘Marketing Excellence’, a one-day marketing and strategy workshop on March 24. Conducted by Dana Faisal Mado, Founder of 2211, a Kuwait-based public relations and brand marketing company, the workshop will shed light ...

DUBAI / Emirates Business Noor Bank, a leading Shari’a compliant bank in the UAE, on Monday announced that its Internal Audit function has received the ‘Generally Conforms’ rating, which stands as the highest rating, following a quality assessment review by the UAE Internal Auditors Association (IAA). Abdulqader Obaid Ali, Chairman of UAE IAA, presented John Iossifidis, CEO of Noor Bank, ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Sunday signed agreements with Total of France, awarding them stakes in two of Abu Dhabi’s new offshore concessions. Under the agreements, which were signed at the Abu Dhabi Louvre, Total has been awarded a 20 percent interest in the Umm Shaif and Nasr concession and a 5 percent ...

DUBAI / WAM Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announced the acquisition of a 90% stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), an integrated multimodal logistics player in India. CWCNSL’s founders, the Reddy family, will retain the remaining 10% shareholding and will remain involved in ...

FUJAIRAH / WAM The National Bank of Fujairah (NBF) on Sunday approved a distribution of profits of 15 percent of paid-up capital. This took the form of cash dividends of 7.5 percent, AED102.5 million, and bonus shares of 7.5 percent, AED102.5 million, of paid-up capital. The bank’s shareholders also approved the Chairman’s and Directors’ Reports, and the Sharia Supervisory Board ...

DUBAI / Emirates Business Pressure is mounting on regional banking and financial institutions to accelerate the adoption and digitisation of processes as the dem-and for cutting-edge online bank- ing from millennial consumers continue to rise. In order to remain competitive, swift response to the evolving consumer needs is paramount as more and more customers are now expecting their respective banks ...

DUBAI / Emirates Business Azizi Developments, one of the leading private developers in the UAE, has announced that its most ambitious project till date — a commercial and residential tower that will add to Dubai’s iconic skyline — will commence construction in the third quarter of 2018. The 122-storey building will stand at approximately 570m tall on Sheikh Zayed Road ...

DUBAI / WAM Nasdaq Dubai on Sunday welcomed the listing of a $1.25 billion sukuk by the Islamic Development Bank (IDB), whose activities include financing development projects for its 57 member countries. The listing brings the number of Sukuk listings by the IDB on the exchange to nine with a total value of US$11.5 billion, making it one of the ...

Dubai / WAM YouTube announced on Sunday the opening of the Middle East and North Africa (MENA)’s first YouTube Space at Dubai Studio City, a facility dedicated to supporting the growing creator community in the MENA region by giving them access to a state of the art production space. The Space, 10th in the world, is dedicated to YouTube content ...