Local News

  Abu Dhabi / WAM Prospects of business growth and development of a knowledge-based economy across the Arab gulf region were the crux of a meeting held on Wednesday in Riyadh and attended by GCC trade executives, with the UAE underlining the importance of safeguarding intellectual property patents and innovation, being a solid pillar for economic development. “The UAE strongly believes ...

  Abu Dhabi / WAM Finding a framework that balances between fundamental human rights and international efforts in combating cyber-terrorism is the overall theme of an anti-cyber terrorism conference to be hosted by Abu Dhabi on May 15-16 under the patronage of His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. The International Conference for ...

  Abu Dhabi / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, announced on Wednesday its financial results for the three-month period ending March 31. The company reported a net profit of AED 74 million for the period, an increase of 90% in profitability over the same period ...

  Dubai / Emirates Business The Dubai Financial Services Authority (DFSA) hosted an outreach session on the opportunities financial technology (FinTech) presents in the Middle East. The seminar was held jointly with the FinTech Hive at DIFC, Hawkamah Institute for Corporate Governance and the Middle East Investor Relations Association (MEIRA) on May 8. The event provided a forum to discuss ...

  Abu Dhabi / Emirates Business ADNOC Distribution announced a reduction of the retail price of unsubsidised LPG cylinders for the month of May 2017 in all service stations in the UAE. As per the announcement that is set on the 10th of every month, the new reduced retail price is as follows: AED 45 per 25lb, reduced from the ...

  Dubai / Agencies The private sector in the Emirate of Dubai gained momentum by the beginning of Q2 2017 as business conditions improved in key platforms, according to the latest Emirates NBD Dubai Economy Tracker Index. The index is a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy. The data ...

  DUBAI / WAM This year’s Arabian Travel Market (ATM 2017) witnessed a 10 percent increase in visitors from the GCC and a 7 percent increase in international visitors to the event, which was held in Dubai World Trade Centre from April 24 to 27, organisers said. For the second year in a row, visitor numbers smashed through the 28,000 ...

  DUBAI / WAM A joint venture between Dubai master developer Nakheel and leading Spanish hospitality group RIU Hotels and Resorts has moved a step closer with the release of a construction tender for an 800-room, beachfront resort and water park at Deira Islands. With an investment value of AED670 million, the resort – RIU’s first in the Middle East ...

  ABU DHABI / Emirates Business Etihad Rail, the developer and operator of the UAE’s multi-billion dollar national rail network, announced the signing of MoU with Al Safa Transport, a trucking and transportation services provider with operations across the Middle East. Signed by CEO of Etihad Rail, Eng. Faris Saif Al Mazrouei and Managing Director of Al Safa Transport, Nabeel ...

  DUBAI / WAM The National Central Cooling Company, Tabreed released its 2017 first quarter financial results. Tabreed’s performance benefited from the new connections made last year, in addition to over 20,000 refrigerated tonnes, RT, added during Q1 2017. These new connections, combined with Tabreed’s existing presence in the GCC, resulted in net profit increasing by 19 percent to AED75.4 ...