Local News

DUBAI / Emirates Business Dubai Police signed a Memorandum of Understanding (MoU) with the Rochester Institute of Technology, Dubai campus (RIT-Dubai), a leading American University based in Dubai Silicon Oasis (DSO). The agreement opens doors for collaboration between the two parties towards boosting the knowledge, skills, and expertise of police officers serving the emirate of Dubai. Dr Juma Al Matrooshi, ...

Dubai / WAM An agreement was signed between global trade enabler DP World and Indonesian government and port officials to advise on the development of the Kuala Tanjung greenfield port and logistics zone and Belawan port in North Sumatra. As part of a Technical Assistance Contract, DP World will share its expertise and experience in increasing efficiencies, training and development ...

Abu Dhabi / WAM ADCorp announced on Monday the launch of its operations in Abu Dhabi Global Market, making it the first Islamic financial institution located in ADGM. Making the announcement, Jassim Alseddiqi, Executive Chairman of ADCorp, said, “We are pleased with the launch of operations at ADCorp after having received the relevant regulatory approvals. We have a strong team ...

SHARJAH / WAM ‘Yalla Pickup’, a mobile application and web-based solution to order pickup trucks to move large consignments, has received a fresh lease of AED1 million in funding from its strategic partner ‘The Box’, provider of self-storage and transportation of goods services in the UAE. Catering to both businesses and individual customers, Yalla Pickup allows a smartphone, Android or ...

SHARJAH / WAM Sharjah Economic Development Department (SEDD) has completed 33,149 issued and renewed licenses in Sharjah in the first half of 2017, according to the data released in its Licenses Annual Report of the year. According to a press statement, the report showed that the licenses renewed through the first half of the year reached 30,103, whereas May was ...

DUBAI / WAM The Ministry of Finance (MoF) assigned Emirates Development Bank (EDB) to create an electronic register to publicise related rights to ‘Mortgage of Movable Property’. Khalid Ali Al Bustani, Assistant Under-Secretary of International Financial Relations Sector at the ministry and Rashid Mahboob Misbah, Acting CEO of EDB, in Dubai signed an agreement to this effect. The collaboration aims ...

ABU DHABI / WAM Abu Dhabi has been named the second-best city in the world to live, work and do business in, overtaking both London and Paris and moving up two places since the last Ipsos City Index. More than 18,000 people, aged between 16 and 64, in 26 countries worldwide were interviewed for the Index, with New York maintaining ...

ABU DHABI / WAM The UAE equity markets on Sunday continued their bullish trend which started last week, with the positive mood prevailing over all sectors led by the property market which posted robust growth in the run-up towards the announcement of the 2017 H1 financial results by leading companies. With the market capitalisation of trading companies gaining AED4.1 billion, ...

Dubai / WAM The Ministry of Finance (MoF), signed a final agreement for the avoidance of double taxation with the Republic of Cameroon at the Ministry’s premises in Dubai on Sunday. The agreement comes in line with the ministry’s strategy to strengthen bilateral trade and economic relations between the two countries, in order to expand its network of international relations ...

Dubai / Emirates Business Mashreq, one of the leading financial institutions in the UAE, has reported its financial results for the first half ending June 30, 2017. Net profit for the first half stood at AED 1.1 billion — a 3.0% increase YoY. Impairment allowance was down by 22.3% YoY. Mashreq’s best-in-class non-interest income to operating income ratio remained high ...