Local News

Dubai / Emirates Business Dubai Land Department (DLD) has announced that the rental index has been updated for 2018. DLD confirmed that the new update is for all residential, commercial and industrial properties in the Emirate of Dubai. DLD’s specialists have adopted a variety of mechanisms to carry out the upgrade process, including reading the average data of tenancy contracts ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has stressed that providing high-quality healthcare to the residents of Dubai is a top government priority. Sheikh Hamdan’s remarks came during his inspection visit to the Emergency and Trauma Centre at Rashid Hospital. He was accompanied by ...

ABU DHABI / Emirates Business Strata Manufacturing PJSC (Strata), the advanced composite aerostructures manufacturing facility wholly owned by Mubadala Investment Company (Mubadala), has completed delivery of its first set of A350-900 inboard flaps to Airbus. Airbus selected Strata to manufacture the A350-900 inboard flap in 2015. Located along the trailing edge of the wings, the inboard flaps are positioned next ...

Dubai / WAM The Mohammed bin Rashid Centre for Government Innovation (MBRCGI), organised a training programme titled “Make the Change” in collaboration with the University of California – Berkeley. Drawing in participants from various federal and local government entities, the programme is part of a series of events and discussions organised by the Centre in collaboration with prestigious academic institutes ...

Bloomberg SoftBank Group Corp. plans to invest as much as $25 billion in Saudi Arabia over the next three to four years as the Japanese company run by Masayoshi Son deepens investment ties with the kingdom, according to people familiar with the matter. SoftBank aims to deploy up to $15 billion in a new city called Neom that Crown Prince ...

DUBAI / WAM The Dubai-based airline, flydubai, on Wednesday announced its commitment to a $27 billion order for 225 Boeing 737 MAX aircraft, to support the growth of its fleet. This is the third order placed by the airline with Boeing in its eight-year history, following those in 2008 and 2013. The new aircraft order will support its continued expansion ...

Bloomberg OPEC and allied oil producers should extend their production cuts beyond March to help re-balance the market, the United Arab Emirates said, adding weight to a gathering consensus for longer reductions in output among participants in the global accord. The UAE favours maintaining the cuts, which are set to expire at the end of the first quarter, Minister of ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) announced plans to launch Umm Lulu Crude Oil, a new crude blend produced from its Umm Lulu and SARB fields, operated by ADNOC Offshore. Umm Lulu Crude Oil, which has an expected API density of around 39 degrees and sulphur content of around 0.7 percent weight percent, is a ...

DUBAI / Emirates Business Union Insurance Company, a leading provider of innovative customer-focussed insurance solut- ions to individuals and corporations in the region, has reported a net profit of as much as AED6.3 million for the first nine months ended on September 30 compared to a net loss of AED12.8 million for the same period last year. Gross insurance premium ...

ABU DHABI / WAM The total value of customs fees transferred by the UAE to other GCC countries on goods entering through the UAE’s customs ports has reached AED2.6 billion. This amount was transferred during the first two years, through a direct automatic transfer system for customs fees between GCC countries, from end of October 2015 to the end of ...