Local News

Abu Dhabi / Emirates Business Etihad Airways is to operate its flagship Boeing 787 Dreamliner on the Abu Dhabi – Casablanca route, effective May 1, 2018. Casablanca will be the first North African destination to be served by Etihad Airways’ next generation aircraft which is fast becoming the backbone of the Abu Dhabi-based carrier’s long-haul fleet. The three-class aircraft, featuring ...

ABU DHABI / WAM Abu Dhabi General Services Company (Musanada), announced the completion of all works on the Al Quaa Special Needs Rehabilitation and Care Centre project in Al Ain. The Centre is currently being handed over to Zayed Higher Organisation for Humanitarian Care & Special Needs (ZHO). The move is part of Musanada’s efforts to deliver projects that serve ...

Dubai / Reuters The United Arab Emirates economy is expected to recover gradually next year without suffering a significant blow to growth from the introduction of a 5 percent value-added tax in January, a senior International Monetary Fund official said. Natalia Tamirisa, IMF mission chief to the Ara b world’s second biggest economy, said Dubai’s spending on preparations to host ...

ABU DHABI / Reuters Abu Dhabi state investor Mubadala has made 15 to 16 investments in technology firms as part of a partnership with SoftBank Group of Japan, deputy group chief executive Waleed al-Muhairi told a conference in Abu Dhabi on Monday. Mubadala has committed $15 billion to SoftBank’s $93 billion private equity fund, the SoftBank Vision Fund, which has ...

Dubai / Emirates Business The total cash deposits placed at the UAE Central Bank surged to AED223.26 billion in 11 months, a growth of 9 percent from AED204.8 billion by end of October. In the meantime, withdrawals from the Central Bank amounted to AED222.969 billion in 11 months, an increase of 11.3 percent from AED206.6 billion during the per- iod ...

ABU DHABI / Reuters UAE Energy Minister Suhail bin Mohammed Al Mazroui said on Monday that OPEC and non-OPEC oil producers plan to announce in June an exit strategy from global supply cuts, but that does not mean the pact will end by then. Mazroui said it was premature to talk about the form or shape of such an exit ...

Dubai / WAM November’s data signalled a solid upturn in Dubai’s private sector business conditions. Steep growth in both output and inflows of new work contributed to the latest expansion, the Emirates NBD Dubai Economy Tracker. The seasonally adjusted Emirates NBD Dubai Economy Tracker Index – a composite indicator designed to give an accurate overview of operating conditions in the ...

DUBAI / Emirates Business The Middle East remains the world’s most important trading partner in the region despite a fall in oil prices, according to a report by World Trade Organisation (WTO). The report stated that the Middle Eastern countries recorded exports of $765.8 billion and imports of $665.2 billion in 2016. The region recorded the highest exports growth (+4 ...

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, received at Al Bahr Palace on Monday the participants at the conference of the Forum for Promoting Peace in Muslim Societies, who were accompanied by Dr. Mohammed Matar Al Kaabi, Chairman of the General ...

Abu Dhabi / Emirates Business Reem Mall, Abu Dhabi’s new up and coming entertainment, dining and shopping destination, announced a significant new partnership with Azadea Group, the premier lifestyle retail company which boasts an infrastructure of more than 650 stores spread across a dozen countries of the Middle East and North Africa (MENA) region. As part of the agreement, Azadea ...