Local News

DUBAI / Emirates Business Aramex, the disruptive leader in the global logistics and transportation industry, announced its financial results for the Second Quarter and First Half of 2017. Aramex’s Q2 2017 Revenues grew by 4% to AED 1,148 million, compared to AED 1,105 million in Q2 2016. Net profits in Q2 2017 decreased by 23% to AED 97 million, compared ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry (DCCI) recently hosted a workshop in partnership with Google to assist Chamber members’ efforts to strengthen their online presence and reach among potential customers. The event, held at Dubai Chamber’s premises, was the first in a series of workshops aimed at familiarising companies with the Google My Business solution, ...

Dubai / Emirates Business Gulf Petrochem Group (GP) has successfully raised $150 million from a group of international and local financial institutions based in the GCC. In an environment of continued low global oil prices, the financing will be used to support the group’s activities around the world. The borrowing will take the form of an 8 year term loan ...

DUBAI / WAM Dubai Investments has reported net profit of AED480 million for the six month period ended June 30th, 2017, compared to AED516 million in the same period last year. The company’s total assets grew to AED16.42 billion and the total income during the period was AED1.28 billion. The results include 8 percent growth in rental income to AED459 ...

DUBAI / Emirates Business The World Economic Forum (WEF) has released its Digital Evolution Index (DEI) for 2017, classifying the UAE as a “stand out” country with an overall score of 3.22, which makes it the most advanced market in the Arab world and 22nd on a global level. Stand Out countries are “highly advanced digitally, and exhibit high momentum.” ...

DUBAI / Emirates Business Passenger numbers at Dubai World Central (DWC), Dubai’s second airport, grew by more than 35 percent in the first half of the year, according to the traffic report issued by operator, Dubai Airports. DWC welcomed 554,993 passengers in the first half of 2017 compared to 410,278 passengers during the first six months last year, a growth ...

ABU DHABI / WAM The UAE stock markets started the first session of the week on a slight rise, with some traders offsetting their options in the build-up to the closure of July accounts. In Sunday’s trading, the banking and real estate sectors drove the market slightly high, with traders still waiting for leading property companies to reveal their H1 ...

ABU DHABI / WAM Developmental projects worth in excess of AED750 million have been endorsed for launch by the Abu Dhabi Executive Council. This came in a meeting of the Executive Council Executive Committee under the chairmanship of Jasim Mohamed Al Zaabi who affirmed the enterprises are aligned with the Abu Dhabi Plan objectives to ensure safe community, and a ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum met with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday at the headquarters of the Abu Dhabi National Oil Company (ADNOC). Their ...

MANAMA / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has confirmed that the four countries boycotting the State of Qatar take the country’s people into consideration before taking any step towards resolving the Qatari crisis. Sheikh Abdullah made the remarks during a joint press conference held in Manama with the foreign ...