Local News

Dubai / WAM The Department of Finance for the Government of Dubai (DOF), the Investment Corporation of Dubai and Dubai Aviation City Corporation, have announced the successful signing of Airport Financing Company FZE, FINCO, US$3 billion credit facilities. The facilities represent the debut financing for FINCO as part of the long-term funding platform established for Dubai Airports. HSBC acted as ...

Dubai / WAM The Board of Directors of the International Halal Accreditation Forum (IHAF) held its first meeting on Sunday in Dubai, where members discussed internal regulations, future strategic directions, plans, and work programmes for the coming period, which will contribute to further regional and international outreach. Its objectives are to expand the trade of halal products through multilateral recognition ...

Dubai / WAM Following the directive of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and as a step to reduce exorbitant wedding costs, the Ports, Customs, and Free Zone Corporation, PCFC, is holding its sixth mass wedding for 100 staff members under the theme “Emirates of Happiness” at the Grand Hyatt Hotel on May 25, with the participation ...

DUBAI / WAM Dubai master developer Nakheel on Saturday announced that it has signed a construction contract worth nearly AED1.5 billion for The Palm Gateway, a new, three-tower residential, retail and beach club complex at the foot of the world-famous Palm Jumeirah. Nakheel has appointed Shapoorji Pallonji Mideast LLC to carry out the work, which will begin in Q2 2017 ...

DUBAI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development has said that Dubai and the UAE have become important global crossroads, particularly for finances, investment, bankers, traders, business owners and entrepreneurs. Speaking on Saturday at ‘The Success Summit’, in Dubai, the minister in his keynote speech said, “Our environment favours aggressive, imaginative visionaries, well-informed ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) has concluded its first roadshow in New York City. Accompanied by a number of its listed companies, the officials from the exchange hosted meetings with around 50 institutional investors from various asset management companies and hedge funds whose assets under management are around US$7 trillion. The roadshow was designed to facilitate ...

Abu Dhabi / WAM More than 40 counter and cyber terrorism experts, decision-makers, senior government officials and the United Nations Secretary-General’s representative will gather in Abu Dhabi on Monday for the International Conference on the Criminalisation of Cyber Terrorism, to find common ground for implementing a system of international laws and legislations that address the roots and extensions of the ...

Dubai / WAM Emirates will introduce a third daily service to Brisbane, Australia from December 1, complementing its existing two daily services. The direct service, to be operated on a B777-200LR aircraft with eight seats in First Class, 42 in Business Class and 216 in Economy Class, will increase capacity on the route by 3,724 seats a week, inbound and ...

Sharjah / WAM The Sharjah Civil Defence brought under control a huge fire that started in a ship bearing a Panama flag at Hamriyah Port on Saturday morning, according to a statement issued by the Sharjah Government Media Bureau. The statement said that the efforts of the Sharjah Civil Defence personnel, the Coast Guards, and the management of Al Hamriyah ...

Dubai / WAM Dubai Customs carried out 2.329 million customs transactions during the first quarter (Q1) of 2017 compared to 2.241 million customs transactions in the same period in 2016. This reflects a healthy continuity of growth and a better performance of external non-oil trade sectors. The growth supports the diverse national economy and helps the UAE better advance towards ...