Local News

Bangkok / WAM TRANSCO, a subsidiary of Abu Dhabi Water and Electricity Authority (ADWEA), has once again been awarded the “Best Utility of the Year-UAE” at the Asian Power Awards 2017 held on 20th September. Over a hundred senior executives and key industry figures representing several Asian utilities flocked to Bangkok, Thailand, for the ceremony. The awards were expertly judged ...

Dubai / Emirates Business His Excellency Dr Thani Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment, was briefed on the collaboration efforts between IBM, Future Society of Harvard and the Global Manufacturing and Industrialization Summit to use cognitive computing, also widely known as artificial intelligence, to monitor, simulate, predict and suggest policy recommendations related to achieving the UN ...

Abu Dhabi / Emirates Business Abu Dhabi has been named the fastest growing destination city in the Middle East and Africa, according to the 2017 Mastercard Global Destination Cities Index. The UAE capital ranked fourth globally as a leading destination city with a projected increase of 4.5% in visitor figures, as well as the fourth fastest growing destination city out ...

DUBAI / Emirates Business Palma Holding, which operates across three main divisions including Real Estate Development, Sales and Leasing and Property Management, announced that it has signed partnerships with four premium brands – Dada, DEDON, Molteni&C and TechnoGym – for its luxury Serenia Residences development. The AED 1.5 billion project is taking shape as the only exclusively residential community on ...

ABU DHABI / Emirates Business The Tourism Development and Investment Company (TDIC), master developer of major tourism, cultural and residential destinations in Abu Dhabi, announced its first retail offering in Saadiyat Cultural District as an opportunity for business investors to lease food and beverage (F&B) and retail space at Mamsha Al Saadiyat, Saadiyat Island’s modern beachfront-living project. TDIC will offer ...

DUBAI / Emirates Business In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into the world’s capital of Islamic economy, Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, is ...

DUBAI / Emirates Business The Middle East’s dedicated trade fair for intralogistics, supply chain management, freight and cargo concluded, bringing a successful end to three-days of busy networking and discussions of the latest trends and innovations in the market today. Materials Handling Middle East 2017 featured 126 exhibitors from 21 countries, and welcomed 3,300 visitors from 50 countries at the ...

ABU DHABI / WAM The total value of remittances by foreign workers in the UAE reached some AED78 billion during the first half of 2017, representing 48.5 percent of the total balance of payments in the country in 2016 of AED160.8 billion. The UAE Central Bank announced that the same figure reached AED40.8 billion during the second quarter of 2017, ...

ABU DHABI / WAM The Ministry of Finance (MoF) announced that the UAE was ranked first in the ‘Efficiency of Government Spending’ index, a sub-criteria of the World Competitiveness Report 2017- issued by the World Economic Forum (Davos) in Switzerland, having ranked second for three previous years. Since 2010, the UAE has achieved high rankings among the top 10 countries in ...

Abu Dhabi / WAM Waha Capital, an Abu Dhabi-based investment company, has acquired a significant minority stake in Dubai-based Channel VAS, a rapidly growing financial technology company. Waha Capital’s new investment is approximately $55 million. The acquisition adds to the diversification of Waha Capital’s principal investment portfolio, which holds stakes in several companies, including New York-listed aircraft leasing firm AerCap ...