Local News

SHARJAH / Emirates Business A new Sharjah Museums Department (SMD) initiative is encouraging local school students to bury themselves in books this year at its line-up of museum libraries. Coinciding with UAE reads initiative, ‘Read at Sharjah Museums’ is a year-long scheme held to mark the UAE leadership’s recent declaration of 2016 as Year of Reading. Hundreds of school students ...

Abu Dhabi / Emirates Business Abu Dhabi Securities Exchange (ADX) announced on Sunday that it has distributed the first cash dividends on behalf of one of its listed companies through distributing the dividends of the shareholders of the Union National Bank (UNB) on bank’s behalf. Thus, the Union National Bank became the first listed company in the United Arab Emirates ...

Abu Dhabi / WAM Abu Dhabi Airports reported an 8.7% increase in passenger traffic at Abu Dhabi International Airport (AUH), for February 2016, compared to the same month last year. A total of 1,863,942 people traveled through AUH last month, exceeding February 2015’s figure of 1,715,540. “We continue to see year on year growth in passenger numbers traveling through Abu ...

Abu Dhabi / WAM Abu Dhabi Municipality (ADM) on Sunday handed over around 60 percent of a batch of communal houses, recently ordered by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for nationals. Last week, HH Sheikh Mohamed ordered the handing over of 1,463 houses ...

Abu Dhabi / WAM Abu Dhabi Islamic Bank (ADIB), a leading financial services group, has acted as the exclusive sell side advisor to Egon Oldendorff GmbH & Co. KG, part of the Oldendorff Group, the bank announced. Oldendorff is one of the world’s largest dry-bulk operators, ADIB acted on the full sale of its subsidiary Emirates Ship Investment Company LLC. ...

Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received Arun Kumar, Assistant Secretary of Commerce for Global Markets and Director-General of the US and Foreign Commercial Service, and Vinay Vijay Singh, Senior Advisor for Global Markets, at his office to discuss trade and economic relations. The meeting is one of a ...

Dubai / Emirates Business Al Hamra Real Estate Development (AHRED), the leading and largest developer in Ras Al Khaimah, has unveiled details of a new partnership with Abu Dhabi Commercial Bank (ADCB), a first for the property developer, to provide mortgage facilities for its expanding portfolio of projects. The newly inked agreement will see ADCB offer mortgage provision for the ...

Emirates Business Property experts, government authorities and real estate developers from the Middle East are reflecting on the last decade of development in the UAE capital as Cityscape Abu Dhabi marks its 10th anniversary edition next month. For the past decade Cityscape Abu Dhabi has gathered industry experts, developers, investors and government officials that have contributed to the development of ...

Ritika Sharma / Emirates Business A land of opportunities and wealth, the UAE has capable financial institutions too, which can manage its fortune. Mashreq, one of UAE’s leading financial institutions, was selected ‘Best Private Bank for Super Affluent Clients in the UAE’ in the prestigious Euromoney’s 13th annual private banking survey for 2016. Euromoney’s Private Banking Survey provides an annual ...

Ritika Sharma / Emirates Business Dubai is all set to host a one-of-its-kind start-up showdown, as region’s young entrepreneurs will pitch unique start-up concepts conceived to solve the greatest technology challenges of today’s world. Handpicked by an esteemed panel of distinguished technology industry experts, business gurus and SME accelerators, the contestants will compete for cash prize of AED50,000 during the ...