Local News

  DUBAI / WAM Foreign investors purchased AED524 million worth of shares on the Dubai Financial Market (DFM) and sold AED595.2mn over the week, DFM said. Net foreign investment on the market reached AED71.2 million as aggregate sell. Value of shares bought by foreigner investors comprised 45.4 per cent of the total value of stocks traded during the last five ...

  Seoul / WAM Dubai Holding on Thursday launched the SmartCity concept in Seoul which combines the UAE’s experience in managing smart cities with South Korea’s tremendous technological advancements. The project will cover an area of 51 million sq ft, and will be strategically located between the two metropolitan cities of Seoul and Incheon, close to two international airports. The project ...

  Dubai / WAM A delegation of Mohammed Bin Rashid Al Maktoum Foundation (MBRF) headed by its Managing Director, Jamal bin Huwaireb, recently visited Tokyo to explore avenues of cooperation with key cultural institutions in Japan. bin Huwaireb met Shinjiro Komatsu, Japanese Deputy Minister of Education, Culture, Sports, Science and Technology, and discussed initiatives that Japan has taken to establish a ...

Abu Dhabi / WAM Etihad Airways’ treasury team has again been recognised for excellence in airline treasury management, with three accolades at the 2016 Middle East, African and Islamic Aviation Finance 100 Awards presented by Airline Economics in Dubai this week. Following a string of successes in recent months, winning leading awards from organisations in London, Miami and Dubai, Etihad Airways ...

  Dubai / Emirates Business Africa’s strong economic fundamentals and investment opportunities sparked interest from Gulf investors during day one of the third ALN Annual International Conference held on October 5 in Dubai. Under the theme, “Africa: Bridging the Gulf”, the conference offered 300 members from the global investment community an insight into Africa’s high-performing sectors. Renowned businessman and founder ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received President Mahamadou Issoufou of Niger on Thursday. During their meeting, Sheikh Mohammed praised UAE-Niger ties as ‘good’, emphasising the commitment of the countries’ leaders to advance economic and political relations to new heights of co-operation. Niger’s President Mahamadou ...

  Dubai / WAM Chairperson of Dubai Healthcare City Authority HRH Princess Haya Bint Al Hussein, wife of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai, on Thursday inaugurated the Medcare Women & Children Hospital, a 100-bed, state-of-the-art hospital dedicated to women and children, and the first tertiary hospital in ...

  Dubai / WAM RAKBANK announces the arrangement of a three-year US$10mn medium term loan facility to DFCC Bank PLC, a leading financial institution in Sri Lanka. DFCC Bank secured the loan for general expansion of its Offshore Banking Unit (FCBU). The loan facility was recently signed at DIFC. Attending the ceremony were Lakshman Silva, DFCC Bank Deputy Chief Executive Officer, ...

  Dubai / WAM The Ministry of Community Development launched a contest to design the best innovative educational tools and applications for people with disabilities as part of the ministry’s programme for UAE Innovation Week 2016. The contest was announced at a ceremony at the Ministry’s Dubai office which was attended by Sana Mohammed Suhail, Under-Secretary of the Ministry, along with ...

  Dubai / WAM Dubai will launch the US$27 billion Green Energy Fund to support local, national and international projects, according to the Third Dubai Declaration issued at the conclusion of the World Green Economy Summit (WGES) on Thursday. The third edition of the WGES, organised under the theme of “Driving Global Green Economy”, gathered more than 80 prominent speakers from ...