Local News

  Abu Dhabi / WAM Senaat, one of the largest industrial investment holding companies in the UAE, announced that it has successfully entered into an agreement with 11 financial institutions to receive a revolving credit facility of US$400 million. The facility, split between 3-year and 5-year tranches, will be utilised in lieu of the existing $750 million Revolving Credit Facility, which ...

  Dubai / WAM Shaheen Al Ghanem, Chief Executive of Warba Bank, one of Kuwait’s leading banks, on Monday rang the market-opening bell to celebrate the listing on Nasdaq Dubai of a US$250 million Perpetual Tier 1 Basel III compliant Capital Sukuk, Islamic bond. The ceremony took place in the presence of Essa Kazim, Governor of Dubai International Financial Centre (DIFC) ...

  DUBAI / Emirates Business Dubai Properties (DP), a leading Dubai-based real estate master developer and asset manager of renowned destinations across the Emirate, announced its continued Strategic Partnership with the International Property Show (IPS) taking place from April, 2-4 at the Dubai World Trade Centre (DWTC), Dubai. This marks the third year that the real estate developer partnered with ...

  DUBAI / WAM The Netherlands, one of the world’s most innovative economies, will take part in Expo 2020 Dubai, it was announced on Monday. The Dutch were last year ranked ninth on the Global Innovation Index, which lists world economies based on their capability for innovation and results. The UAE has set an objective of joining the Netherlands in ...

  ABU DHABI / WAM The value of shares bought by foreign traders at the UAE financial markets stood at AED21.8 billion in the first two months of 2017. This volatility reflects high frequency of entering of this investor category to the market compared to the same period in 2016. An Emirates News Agency (WAM) analysis shows that foreign purchases ...

  Astana / WAM The fourth session of the UAE-Kazakh Inter-Governmental Commission convened on Sunday in the Kazakh capital, Astana. The UAE delegation is led by Ahmed Abdul Rahman Al Jarman, Assistant Minister of Foreign Affairs and International Co-operation for Political Affairs, while the Kazakh side was led by Akylbek Kamaldinov, Deputy Minister for Foreign Affairs, in the presence of Dr. ...

  Dubai / WAM Department of Economic Development in Dubai (DED)and its three agencies Dubai SME, Dubai Trade and Exports, and Dubai Investment Development Agency (Dubai FDI), have adopted a new corporate identity in line with the mandate given to them to organise economic activity in the Emirate of Dubai. In addition to replacing the old name ‘Department of Economic Development’ ...

  Dubai / WAM The Roads and Transport Authority (RTA) in collaboration with the Dubai Police General HQ, Department of Economic Development (DED) and Dubai Municipality, endorsed several specifications for courier boxes carried by motorbikes for delivering various materials. The agreement follows a series of meetings based on their respective specialist fields with the ultimate objective of improving safety standards. The ...

  KALBA / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has offered condolences to the family of Emirati serviceman Zakaria Sulaiman Al Za’abi, who died while performing his national duty as part of the Saudi-led Arab Coalition’s “Operation Restoring Hope”, in Yemen. While visiting the ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) in collaboration with The Word Bank Group (WBG) organised a workshop on Sunday in Dubai on the importance of private-public sector partnerships and adopting performance-based contracts between the sectors. The workshop comes in line with the ministry’s strategy to benefit from international experiences and introduce the UAE’s government entities to the ...