Local News

Dubai / Emirates Business Total value of 543 active hospitality projects in the UAE reached $71.6 billion (AED262.77 billion) at the beginning of September 2017, according to BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region. The hospitality sector constitutes 6 percent of all active projects in the ...

Dubai / Reuters Abu Dhabi Financial Group (ADFG), a privately owned investment company with over $5 billion of assets under management, is considering issuing $100 million in debt through a privately placed bond, sources familiar with the matter said. The private placement, with a three-year tenor according to the sources, would come at a relatively calm time in the Gulf’s ...

Dubai / WAM DMCC, the Government authority on trade, enterprise and commodities in Dubai, signed a Memorandum of Understanding with the Xi’an International Trade and Logistic Park at the Xian Dubai Free Trade Zone Economic Cooperation Conference, 2017, in China. The MoU aims to open doors for businesses in UAE and China looking to expand into new markets as well ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, , said that the UAE’s journey of progress, since it was launched by the late Sheikh Zayed bin Sultan Al Nahyan, to its completion by the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, along with ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, held a conference with ten of the UAE’s top banking institutions to discuss plans for its new electronic Initial Public Offering, IPO, service. The new service will allow banks, issuers and key stakeholders to manage IPOs through ADX’s existing eKtetab platform, which provides a range of ...

Abu Dhabi / WAM Abu Dhabi Airports announced on Tuesday that it has achieved a 65 percent increase in operating profits during the January-August period this year compared to the same period in 2016. This announcement comes after the company’s executive team weekly meeting that took place at Al Ain International Airport last week, led by Abdul Majeed Al Khoori, ...

Dubai / WAM In a bid to strengthen its relations with regional and global entities, the UAE Ministry of Finance (MoF), on Tuesday received a delegation from the Ministry of Finance of the Kingdom of Saudi Arabia (KSA), at its premises in Dubai. The two parties aimed to exchange experiences in government finance practices at the meeting. Younis Haji Al ...

New York / WAM Dr Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, stressed that governments cannot work alone to achieve the goals of the Paris Agreement while highlighting that they must come up with creative ways of involving institutions and individuals in this process. He made this statement during a meeting of the Climate Action Network Founders ...

Sharjah / WAM His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, on Tuesday opened the third edition of the Sharjah FDI Forum. The two-day forum is organised by Sharjah Investment and Development Authority, Shurooq, and Sharjah FDI Office, Invest in Sharjah, and includes nine working sessions. The two-day forum is organised by ...

DUBAI / WAM The Emirates Development Bank (EDB), launched a housing loan programme for UAE nationals who have obtained relevant approvals from the country’s major housing institutions – the Sheikh Zayed Housing Programme, the Abu Dhabi Housing Authority, the Mohammed bin Rashid Housing Foundation and the Sharjah Housing Department – during a meeting at its headquarters in Dubai, which was ...