Local News

Dubai / WAM The Government Transport Centre, a subsidiary of Emirates Transport (ET), announced that it has signed transport contracts worth AED48 million with a number of local and federal government entities. The latest signed contracts included two major agreements with Taqyeem Centre for commercial information and CRIF Gulf Dubai, worth in excess of AED23mn each, according to Abdul Gaffar ...

Dubai / WAM Dubai Carbon announced its first carbon credit transaction, with the sale of the resulting Certified Emission Reductions, CERs, from Dubai Electricity and Water Authority Chiller Station L Project through adopting the Clean Development Mechanism (CDM) to Farnek Total Facility Management. This initial sale paves the way for expansion of the green economy in Dubai, inviting further investment ...

Dubai / WAM The UAE has achieved a new global breakthrough in developing the UAE Government Excellence Model (GEM), as a global reference for supporting ambitious governments in improving their efficiency and shaping the future of their entities. This initiative embodies the vision of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al ...

ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, has underscored the need to extend the crude oil production cut deal to ensure market stability and reasonable prices, noting that reaching an agreement by OPEC and non-OPEC countries towards this end is possible and is likely to reduce the current supply glut. “International ...

DUBAI/ WAM The Dubai Chamber of Commerce and Industry (DCCI) received a high-level delegation from the Riyadh Chamber of Commerce and Industry on its premises as part of efforts to promote and facilitate knowledge sharing and cooperation between the two organisations. During the meeting, Hamad Buamim, President and CEO of Dubai Chamber, said, Saudi Arabia remains the top destination for ...

ABU DHABI / WAM Masdar City has been named “Best Free Zone for Start Up Support” by the Financial Times and has collected three other prestigious global awards. The Global Free Zone of the Year Awards, hosted by the FT’s fDi Magazine, are among the most high-profile awards in the free zone sector, with approximately 65 free zones entering this ...

ABU DHABI / Emirates Business Agility, UPAC, and NREC, the consortium behind Abu Dhabi’s Reem Mall, a retail, leisure and entertainment destination, announced that financing for the $1.2 billion project is now complete, by signing the largest real estate asset based facility in the United Arab Emirates in 2017. “The business climate in Abu Dhabi is one of the things ...

ABU DHABI / Reuters Abu Dhabi National Oil Company (ADNOC) has embarked on a major shake-up plan to priv- atise its services businesses, venture into oil trading and expa- nd partnerships with strategic investors, its chief executive said on Monday. The partial privatisation plan marks a major shift by the state energy company that was founded in 1971. It aims ...

ABU DHABI / WAM The Central Bank’s gross bank assets, including bankers’ acceptances amounted to around AED2.639 trillion during the month of October against AED2.643 trillion that was recorded in September. According to the CB statistics released on Monday, gross credit increased to as much as AED 1.584 trillion during October, two percent up from AED1.58 trillion in September. The ...

DUBAI / WAM HH Sheikh Mansour bin Mohammed bin Rashid Al Maktoum inaugurated on Monday the new “Marinas” at the Mina Rashid Marina, which will harbour 5,000 yachts and boats and will accommodate 20,000 in the next few years. It is expected to be a new world-class touristic maritime and entertainment attraction. The project, carried out by P&O, part of ...