Local News

ABERDEEN / WAM Scotland’s First Minister Nicola Sturgeon and Norway’s Minister for Energy and Petroleum, Terje Soviknes, attended the formal unveiling of the world’s first commercial-scale floating wind farm, a renewable energy project which paves the way for the development of wind energy resources in areas beyond the reach of existing offshore wind technologies, according to Abu Dhabi Future Energy ...

Dubai / WAM The General Civil Aviation Authority (GCAA) announced that on December 7, in a ground-breaking and historic moment, the UAE will implement one of the largest airspace changes the region has ever seen. Specifically, the date will signal the completion of the UAE Airspace Restructuring Project (ARP), which will see the Emirates Flight Information Region (FIR) transformed into ...

Dubai / WAM Global trade enabler DP World is stepping up container handling productivity at its flagship Jebel Ali Port, by adding 1.5 million TEU, twenty- foot equivalent units, to Container Terminal 3 (T3). The expansion is in response to emerging market demand and increases the port’s capacity from 18 million TEU to 19.5 million TEU. T3 now has a ...

ABU DHABI / WAM The Abu Dhabi Global Market (ADGM), the International financial centre in Abu Dhabi, and Mastercard, a leading technology company in the global payments industry, are collaborating on initiatives and fostering more opportunities to support the development and growth of FinTech activities in the UAE capital and the wider region. ADGM and Mastercard share a mutual commitment ...

Dubai / Emirates Business Chestertons MENA has reported the total number of off-plan transactions in the third quarter of 2017 has increased by 86% from the previous quarter, while the value of off plan transactions was up by 118% to AED4.04 billion. “With reference to off-plan transactions, Dubai’s real estate market has witnessed seasonal peaks and troughs in the last ...

Abu Dhabi / Reuters Abu Dhabi National Oil Co (ADNOC) is expected to issue as early as this week a project bond in the region of $3 billion, in what would be the United Arab Emirates oil major’s first public debt issue, sources familiar with the matter said on Tuesday. The bond, with a maturity longer than 10 years, would ...

ABU DHABI / WAM Etihad Airways is testing a new hand baggage-only ‘Deal Fare’ on two key routes this winter season, for bookings between October 18 and December 18, allowing travellers to purchase lower cost seats in Economy Class if no checked baggage is required. The trial fare includes a complimentary carry-on baggage allowance of 7kg and is available on ...

DUBAI / WAM Dubai Islamic Economy Development Centre (DIEDC), has reviewed a number of initiatives set to be launched over the coming period as part of the emirate’s strategy aimed at becoming the capital of Islamic economy by 2021. This came at a meeting held under the chairmanship of Sultan bin Saeed Al Mansouri, Minister of Economy, during which a ...

Dubai / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on Tuesday received the President of the Maldives, Abdulla Yameen Abdul Gayoom, and his accompanying delegation. HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and HH Sheikh ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry concluded its high-level trade mission to Malta, which aimed to strengthen bilateral ties and explore trade and investment opportunities that are opening up in the fast-growing European country. A business delegation led by Dubai Chamber met with key stakeholders from the country’s public and private sectors, including Joseph Muscat, Prime ...