Local News

Abu Dhabi / WAM The National Centre of Meteorology and Seismology (NCMS), has urged motorists to be cautious, reduce speed and leave enough distance between vehicles because of a dust storm caused by winds. NMCS said in a statement on Monday that the weather will be hot in general, partly cloudy and hazy at times. Some clouds may appear over ...

Dubai / Emirates Business The spirit of giving across different generations and pillars was celebrated at the NAMA Women Advancement Establishment (NAMA)’s Ramadan gathering, which was held under the theme ‘The good begins and ends with you’ at Al Jawaher Reception and Convention Centre in Sharjah. Grandmothers, mothers and daughters took part in the event, which paid tribute to the ...

Dubai / Emirates Business The UAE has the second highest net perception of service improvement over the past two years globally and ranks first in terms of the highest levels of satisfaction for services in comparison to the private sector, with 39.5% more UAE citizens using these services more often according to The Boston Consulting Group’s (BCG) 2016 Digital Government ...

Abu Dhabi / Emirates Business Hilton on Monday announced that Hilton Abu Dhabi Yas Island Resort will be part of the AED12 billion development plan announced by Miral for the southern end of Yas Island, in efforts to further position the island among the world’s most sought-after destinations by 2022. B.R. Kiran, Chief Portfolio Officer of Miral said: “We are ...

Dubai / Emirates Business UAE-based Transguard Group on Monday released its annual figures for the financial year ending March 31, which was another record year for the business support services provider, with a set of exceptional financial figures and operational milestones. According to the figures audited by PricewaterhouseCoopers, Transguard Group, generated revenue in excess of AED1.9 billion a 33% increase ...

Dubai / Emirates Business Total gross bond issuance in the GCC has already surpassed 2016’s total value in the first five months of this year, according to Fisch Asset Management, a global leader in convertible and corporate bond strategies. Current market conditions have created a favourable landscape for new bond issuances, with the GCC Sukuk market issuing up to USD ...

Abu Dhabi / WAM Foreign investors’ buy value of shares in ADX amounted to around AED 2.282 billion during May, claiming 60.9 percent of the total value of traded stocks, with foreign sales for the same period valued at AED2.077 billion, accounting for 55.4 percent of total trading, resulting in a net foreign investment value of around AED204 million. As ...

DUBAI / Emirates Business FIVE Holdings, the Dubai-based real estate development and hospitality group previously known as SKAI Holdings, has launched a AED2.10bn (USD570m) real estate investment trust (REIT), the region’s first hospitality focused REIT and the largest to date. The REIT, to be regulated by the Abu Dhabi Global Market (ADGM) and Financial Services Regulatory Authority (FSRA), will include ...

Dubai / Emirates Business May data highlighted a robust improvement in the health of the non-oil private sector, with output and new orders expanding at a sharp rate. The respective rates of expansion eased since April. This was highlighted by the seasonally adjusted Emirates NBD Dubai Economy Tracker Index — a composite indicator designed to give an accurate overview of ...

Bloomberg Emaar Properties PJSC hired Goldman Sachs Group Inc. to manage the sale of shares in its United Arab Emirates real estate development business in Dubai, Chairman Mohamed Alabbar said. The developer of the world’s tallest tower expects to complete the initial public offering by November with a size similar to its Emaar Malls PJSC offering, Alabbar said in an ...