Local News

Dubai / WAM Dubai Multi Commodities Centre (DMCC), the world’s leading free zone for trade and enterprise and master developer of the Jumeirah Lakes Towers in Dubai, on Monday announced that construction has commenced at its new premium district, ‘Uptown Dubai,’ and that Phase 1 with more than two million square feet of LEED Gold-certified development will be underway by ...

Abu Dhabi / WAM ADNOC Distribution has announced that it received a ‘UAE Superbrand’ award for 2017, for the fourth consecutive year. Mohammed Al Zaabi, Acting Senior Vice President of Retail Sales Group at ADNOC Distribution, received the award at a ceremony hosted by the Superbrands Council. Superbrands is the largest independent global body evaluating and recognising corporate branding and ...

Abu Dhabi / WAM Abu Dhabi’s Department of Culture and Tourism (TCA Abu Dhabi) is to host a lecture as part of Al Ain National Museum’s Coffee Morning series in Al Ain Municipality Theater on September 27, led by Dr. Mark Beech, Head of the Department of Coastal Heritage and Palaeontology at Al Ain National Museum. Titled ‘Why Studying the ...

DUBAI / WAM The UAE Government Accelerators programme exceeded all expectations in the second round, addressing challenges and working towards services that directly affect people’s everyday lives. The eight teams in the programme have exceeded their stated goals, without committing to the use of additional resources, according to an official handout. Six teams successfully achieved their stated targets as far ...

Abu Dhabi / WAM The UAE central bank withdrew AED3.1 billion in excess liquidity during August, bringing the total withdrawals to AED11.3 billion in two months. The apex bank said the move is part of its continuing efforts to manage excess liquidity in the banking system. The UAE central bank withdrew AED8.2 billion of excess liquidity during July, which resulted ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, announced that the International Swaps and Derivatives Association (ISDA), recognised ADGM as an effective netting regime and published a positive legal opinion to its members. The new recognition further reinforces ADGM’s position in providing a robust legal framework, which allows financial institutions and corporates ...

Abu Dhabi / Emirates Business Etihad Airways and its international cash management bank partner Citi have successfully completed a project six months ahead of schedule to introduce new automated treasury tools at the airline. The 18-month project saw Etihad Airways implement Citi’s Liquidity Management solution across its international network to achieve substantial cash optimisation and competitive market rates resulting in ...

Abu Dhabi / Emirates Business Despite the recent projected downward trend in Chinese trade growth, China looks set to maintain its position as Dubai’s biggest trade partner as annual China Trade Week UAE returns from September 25-27. Currently, about 60 percent of China’s total trade passes through UAE, from where it is re-exported to Africa and Europe. China remained Dubai’s ...

Kerala / WAM His Highness Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, accompanied by HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of HH the Ruler of Sharjah and Chairperson of the Supreme Council for Family Affairs, on Sunday arrived at Trivandrum International Airport in Kerala, India. The two-day official visit came following ...

NEW YORK / WAM The UAE announced its intention to make two financial donations to the United Nations; $15 million to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), to help in its basic programmes for Palestinian refugees, and another $15 million will be allocated to support UN Women over the next three ...