Abu Dhabi / Emirates Business Emirates Motor Company (EMC), the Mercedes-Benz authorized distributor in the emirate of Abu Dhabi and the flagship company of Al Fahim Group, has announced that customers who have purchased any AMG after June 1 will receive vouchers to participate in three different AMG experiences at Yas Marina Circuit until December: the Mercedes-AMG GT Experience, ...
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Bloomberg Abu Dhabi sovereign investment fund Mubadala Development Co. will acquire a 20 percent stake in alternative investment firm Investcorp Bank BSC, which has backed companies including Tiffany & Co. and Gucci Ltd. under founder Nemir Kirdar. Mubadala will secure a 9.99 percent stake immediately and a further 10.01 percent after gaining regulatory approval, Investcorp said in a statement ...
Read More »ABU DHABI / WAM Within its endeavour to co-operate with relevant entities in undertaking its regulatory role, the Federal Authority for Nuclear Regulation (FANR) has signed a Memorandum of Understanding (MoU) with the General Authority of Ports, Border and Free Zones Security (MANAFTH). The MoU aims to promote co-operation in the field of radioactive and nuclear materials security in ...
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Dubai / Emirates Business The National Bank of Ras Al-Khaimah (RAKBANK) on Thursday announced a consolidated net profit of AED 445.5 million for the half-year ended 30 June 2016. The Group’s operating profit increased by 12.0% to AED 1.3 billion as a result of an increase in total income by 3.2% and a reduction in operating cost by 10.0%. ...
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Abu Dhabi / WAM Ras Al-Khaimah Free Trade Zone (RAK FTZ) has received another prestigious award from the inaugural BURJ CEO Awards, winning the “Best Global Free Zone,” at Washington DC, USA, RAK FTZ’s third recognition from award-giving bodies this year. On behalf of the free zone, Izzat Barakat, RAK FTZ’s Chief Commercial Officer, accepted the award from H.H. Sheikh ...
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Abu Dhabi / WAM The First Gulf Bank (FGB) reported second quarter 2016 Group revenue growth of 3%, while Q2’ 2016 net profits were recorded at AED 1.31 billion compared to AED 1.33 billion for the previous quarter. FGB reported a group net profit of AED 2.64 billion for the six-month period ended 30th June 2016, compared to AED 2.87 ...
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Abu Dhabi /WAM The Ministry of Finance(MoF) continues its efforts to implement the financial circular No.3 for 2016 on ‘uploading Emirates ID details within employees’ records in the Federal Financial System’. Since the issuance of the circular in April, the number of employees with incomplete or inaccurate national ID details went down to 280 employees compared to 3,000 employees ...
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Dubai / Emirates Business Commercial permits issued by the Department of Economic Development (DED) in Dubai to companies for various activities like marketing campaigns, sales promotions and exhibitions increased 16.3% over the first six months of 2016 compared to the first half of 2015. Altogether 13,566 commercial permits were issued by DED in H1 2016, indicating robust business development ...
Read More »Emirates Business Sadia, the leading brand of chilled and frozen food around the world is campaigning and educating families across the Middle East to conserve food and encouraging them to focus more on what is required rather than desired – currently up to 25% of all food purchased or prepared in the region is thrown out before being used ...
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Ajman / Emirates Business Different type of dates including bunches of new harvests were submitted by farmers at the 3rd Liwa Ajman Date Festival and judges will determine the tastiest, healthiest and best looking fruits to win the prize. On the first day of the festival, Saif Saif Thamer Al Marar was announced first prize winner while Mohammed Ahmed ...
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