Local News

Water taxis to connect Louvre Abu Dhabi to major attractions

ABU DHABI / WAM Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the Emirate of Abu Dhabi, has signed an agreement with Jalboot Marine, a local company that provides ferry services around Abu Dhabi, to begin cruise trips to the Louvre Abu Dhabi in addition to other city landmarks. Abdulkareem Al Masabi, Executive ...

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RAKTDA promotes Ras-al-Khaimah at European countries

Ras Al Khaimah / Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA) has toured five key European countries as part of its ongoing promotional strategy to increase visitor numbers from core and emerging source markets across the continent. Kicking off the roadshow in Brussels, the Authority then attended a number of tailored travel trade and media events across Amsterdam, ...

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L&T displays power, renewable energy projects at WETEX

DUBAI / Emirates Business Larsen & Toubro (L&T) successfully showcased its multi-dimensional EPC capabilities in power transmission & distribution, infrastructure, water and renewable energy segments at 19th Water, Energy, Technology and Environment Exhibition (Wetex). On display is L&T’s strengths across domains with specific emphasis on power transmission and renewable energy projects executed across India, UAE and GCC, highlighting its role ...

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40% of Abu Dhabi Science Festival activities to involve local entities

DUBAI / WAM The Abu Dhabi Department of Education and Knowledge (ADEK) has confirmed that 40 percent of the 71 exciting and educational activities lined up for the upcoming 7th Abu Dhabi Science Festival (ADSF) it is organizing under the patronage of HH Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the ...

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Dubai realty transactions hit AED204bn in 9 months

Dubai / Emirates Business Dubai Land Department (DLD) announced that the total value of real estate transactions for the first nine months of this yearreaching AED 204 billion, achieved through 52,170 transactions. According to the report, there were a total of 37,633 transactions for land, residential units and buildings, generating a value of over AED 88 billion. There were also ...

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UAE central bank warns against bitcoin

Abu Dhabi / WAM The UAE Central Bank has warned against Bitcoin, terming it as unofficial and lacking sufficient supervision. The warning was made by Mubarak Rashed Al Mansouri, Governor of the UAE Central Bank, on the sidelines of the Islamic Financial Services Board Summit which started in Abu Dhabi on Monday. “Some nations have announced that they are not ...

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UAE leads region in global postal services index

DUBAI / WAM The UAE has been ranked first among Arab countries in terms of quality and performance of postal services. Chairman of Emirates Post Group, Mohammed Sultan Al Qadi, said that the UAE’s top regional ranking on the Integrated Index for Postal Development (2IPD), is a great achievement, and constitutes a new element on the postal policy map for ...

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Islamic banks account for 20% of UAE banking sector’s total assets

ABU DHABI / WAM The UAE is home to eight Islamic Banks, accounting for approximately 20 percent of total assets in the banking sector, which comprises 23 percent of total domestic credit as of the end of August 2017, Mubarak Rashed Al Mansouri, Governor of the UAE Central Bank, said. “The growth of Islamic banking has been supported by robust ...

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ADIB profit surges 13%

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) Group announced on Sunday that its net profit for the first nine months of 2017 rose 13 percent year-on-year to AED1.69 billion. “Net profit for the third quarter of 2017 delivered a 10.8 percent year-on-year rise,” the bank said in a press statement. Revenues increased by four per cent for the ...

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ADX, Nasdaq Dubai sign deal to develop index futures contract

DUBAI / WAM Abu Dhabi Securities Exchange (ADX), and Nasdaq Dubai signed an agreement to develop and launch an Index Futures contract based on the Abu Dhabi General Index (ADI), on Nasdaq Dubai’s derivatives platform. The ADI indicates the performance of ADX listed stocks and is widely tracked by the investment and trading community locally and internationally. The ADI’s value ...

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