Local News

Dubai / Emirates Business One of Dubai’s largest real estate brokerages, fäm Properties, has topped AED1.3 billion in residential property sales at City Walk, the new destination developed and managed by Meraas in the heart of Jumeirah. Firas Al Msaddi, the fäm Properties CEO, said that the bulk of sales were to first- time buyers of buildings, while just over ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and the Responsible Finance and Investment Foundation (RFI) have announced the setting up of a partnership to bolster the growth and sustainability of the FinTech ecosystem through financial inclusion and ethical and responsible finance practices. The collaboration agreement was signed by Blake Goud, Chief ...

ABU DHABI / WAM The Abu Dhabi Events Licensing System (ELS), which was launched earlier during the year by Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) has experienced unprecedented growth of 19.5 percent in total applications between Q1 and Q2. Operated by TCA Abu Dhabi on behalf of Abu Dhabi Government, the ELS, a mandatory register of all ...

DUBAI / Emirates Business The Community Development Authority’s (CDA) team of professionals dedicated to implem- enting the Dubai 10X strategy is organising a week-long series of brainstorming workshops to turn their initiatives into pragmatic projects. The series kicks off with a workshop for CDA’s tier-one and tier-two leaders, where, along with the Authority’s Dubai 10X team, attendees will explore pragmatic ...

Dubai / Emirates Business Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, announced its financial results for the first half ended June 30, 2017. Amlak reported net profit of AED 15.5 million for the first half ended June 30 2017. The company reported profit of AED 8.1 million for Q2 2017 compared to loss of ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) announced that it is in advanced discussions with more than a dozen potential partners who have expressed a significant interest in the offshore concession, currently operated by the Abu Dhabi Marine Operating Company (ADMA-OPCO) that expires next March. The potential partners are a mix of existing concession holders in ...

Dubai / Emirates Business The preferred mobile plan for tens of thousands of UAE SMEs is now more powerful than ever. du has enriched its Business Mobile Plans to meet the communication needs of SME businesses even better, enabling them to have more flexibility, customisation and simplicity in managing the communication needs of their businesses and employees. “We understand that ...

Dubai / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, recorded a net profit of AED 1.021 billion ($278 million) in the first-half (January to June) of 2017. This is 3 percent higher than the H1 2016 net profit of AED 987 million ($269 million). Revenue for half- year 2017 is AED 1.624 billion ...

SHARJAH / WAM Expo Centre Sharjah has announced it will organise and host 11 economic, cultural, and commercial exhibitions in the second half of 2017. The first event on the agenda kicks off on October 3, and the last event ends on December 16. Saif Mohammed Al-Midfa, CEO of Expo Centre Sharjah, said that the Centre has realised its objectives ...

DUBAI / Reuters Manufacturer JBF RAK, which is 60 percent owned by the United Arab Emirates’ Ras al-Khaimah Investment Authority (RAKIA), is in talks with banks about renegotiating around AED2bn ($544.6 million) of debt, banking sources said. The polyester producer, which according to its website is an affiliate of India’s JBF Group, has contacted lenders about reviewing its debt obligations, ...