Local News

Dubai / Emirates Business The Dubai Land Department’s annual report for 2016 underscores the huge success of Dubai in particular in attracting property investors, registering a total of 60,595 real estate transactions collectively worth over AED 259 billion. Falconcity of Wonders LLC (FCW) will showcase the latest developments within its FCW multipurpose mega project during the 16th edition of Cityscape Global, ...

Dubai / WAM The Telecommunications Regulatory Authority (TRA), revealed statistics for the second quarter of 2017 on the nation’s most popular mobile phone handsets. Investigating the current state of the market, the report reveals the market share of mobile phones in the UAE by manufacturer and model. According to the report, during the period April 1 to June 30, 81.5 ...

Dubai / Emirates Business Dubai Maritime City Authority (DMCA) continues monitoring, inspection and follow-up on the work of floating restaurants to ensure compliance with international standards and best practices in line with its efforts to enhance maritime safety, operational efficiency and safe navigation within Dubai’s territorial waters. The move is a continuation of efforts to encourage the adoption of best ...

ABU DHABI / WAM The net income of Abu Dhabi-based commercial banks amounted to AED9 billion during Q2 2017, a growth of 4.1 percent from AED8.64 billion during the corresponding period in 2016. Net interest income amounted to AED5.268 billion during Q2 of 2017, accounting for 58.5 percent of commercial banks’ net income in the Emirate, according to the Statistics ...

FUJAIRAH / WAM Foreign investments in the Fujairah Free Zone amounted to more than AED8 billion, with FFZ Authority accommodating more than 3500 companies from over 44 countries. Sharief Habib Al Awadhi, Director General, FFZA, has stated, “FFZ is witnessing growing demand on the part of investors wishing to establish different types of projects, especially in the oil and logistics ...

DUBAI / Emirates Business Shuaa Capital announced that its real estate asset management division will be managing the development of a new mixed-use AED1.5bn skyscraper on Sheikh Zayed Road, Dubai. The project, details of which will be unveiled at next week’s Cityscape Global Conference and Exhibition in Dubai, is intended to serve the ever-growing demand in the UAE’s residential, tourism ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Tuesday chaired a brainstorming session with his team. The session was attended by HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the ...

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has praised the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to unify the country’s education system and standardise the model of the Emirati school on a national level. “The requirements of the labour market are witnessing rapid ...

NINGXIA / WAM The UAE is participating with a high-level delegation in the China-Arab States Expo to be held in Yinchuan, capital of northwest China’s Ningxia Hui Autonomous Region, from September 6-8. Juma Mohamed Al Kait, Assistant Undersecretary for Foreign Trade Affairs at the Ministry of Economy, who is leading the UAE delegation, has underscored the significant importance of the ...

Dubai / Emirates Business Experts in diverse aspects of energy management will converge in Dubai for the sixth Annual EmiratesGBC Congress on October 17 and 18 to discuss strategies for promoting sustainable built environments. Organised by Emirates Green Building Council (EmiratesGBC), an independent forum aimed at conserving the environment by strengthening and promoting green building practices, the annual Congress will ...