Local News

Abu Dhabi / Emirates Business Delegates at this year’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) will have more opportunities than ever to hear some of the oil and gas industry’s most powerful executives speak in open-invite conference sessions, after organisers confirmed they will increase the number of Global Business Leader panels for 2017. Held under the patronage of ...

Dubai / WAM From custom caps and cufflinks to tailor-made towels and teapots, Expo 2020 Dubai is looking for manufacturers in the Gulf for two important merchandising categories apparel and homeware. The Expo team seeks producers, from international brands to artisan producers, of goods, which will be offered to millions of visitors from around the world as official Expo 2020 ...

Dubai / Emirates Business Cash is still the reigning king, but that is likely to change rapidly given the UAE’s thrust towards cultivating smart economies, says Xpress Money’s Associate Vice President – Strategy, Digital & BIA, Arundhoti Banerjee. Xpress Money – one of the world’s most dependable money transfer brands – believes that cashless transactions will become far more common ...

Bloomberg Airbnb Inc. is ramping up its investment in China, quadrupling its engineering team over the next 12 months to focus on affluent millennials who’re increasingly exploring the world’s second largest economy. Airbnb will grow its technical cohort to more than 100 in Beijing—the only office outside the US where the home-sharing giant employs an engineering division, according to co-founder ...

Dubai / WAM Emaar Properties PJSC recorded a 15 percent growth in net profit to reach AED2.837 billion ($772 million) during the first six months of 2017 (H1), compared to AED2.475 billion ($674 million) during the same period last year. The H1 2017 revenue reached AED7.866 billion ($2.142 billion) an increase of 8 percent over H1 2016 revenue of AED7.257 ...

ABU DHABI / WAM The Emirate of Abu Dhabi’s trade in iron and steel, aluminum, and copper hit AED6.8 billion during the first third of 2017, a growth of 15.6 percent over the corresponding period last year, according to the Statistics Centre- Abu Dhabi. The three minerals account for 11.6 percent of the total non-oil trade across the emirate’s points ...

Dubai / Emirates Business DAMAC Properties Dubai Co. PJSC, a leading property developer in the Middle East, announced its first-half 2017 financial results, reporting total revenue of AED3.5 billion and net profit of AED1.6 billion. As of 30 June 2017, DAMAC’s booked sales for H1 stood at AED 4 billion, and delivered 1,071 units in DAMAC Hills, Dubai. Total cash ...

HAMBURG / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum toured the Airbus Plant in the German Province of Hamburg. His Highness Sheikh Mohammed’s four-stop tour of the giant factory premises started in the department dedicated to the assembly of the basic components of the short- and mid-range ...

ABU DHABI / WAM The non-oil trade between the UAE and Mexico hit US$1.3 billion during 2016, with the two countries continuing to strengthen economic ties and other trade relations at different levels, according to a Ministry of Economy report. The ministry has issued the report based on the World Trade Organisation 2017 Trade Policy Review on Mexico as part ...

ABU DHABI / WAM The capital value of companies listed at Abu Dhabi Securities Exchange amounted to AED87.1 billion by the end of 2016, according to official statistics. The banking sector accounts for 41.2 percent of the total capital of 13 national banks worth AED35.9 billion before the merger of the NBAD and First Gulf Bank. This is followed by ...