Local News

  DUBAI / WAM HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of Dubai International Financial Centre, chaired on Monday the official meeting of the Higher Board of Directors of Dubai International Financial Centre (DIFC), the financial hub for the Middle East, Africa and South Asia. The meeting was held in the presence ...

  Dubai / Emirates Business The pressure on the UAE and the rest of the GCC countries to focus on new low-energy architecture will increase over the next eight years as billions of dollars are ploughed into infrastructure development across the region, new research shows. According to a regional market study issued on Monday, spending on building exteriors will increase ...

  Dubai / WAM The Roads and Transport Authority, RTA, has completed construction work on internal roads at Al Barsha South 2. With a total length of 16 km, construction work in the area also included completing infrastructural works such as the rainwater drainage network, revamping electricity, water and irrigation grids, and using LED street lighting. “The project works also included ...

  Abu Dhabi / WAM The Masdar Institute of Science and Technology, an independent, research-driven, graduate-level university focused on advanced energy and sustainable technologies, on Monday launched of a real-time dust forecasting system that provides accurate, up-to-date dust information for the Middle East region. The advanced dust forecasting system will help inform government officials and UAE residents about anticipated dust-storms so ...

  Dubai / WAM The Emirates airline has renewed its sponsorship agreement with the UAE Rugby Federation, UAERF, to reinforce its commitment to rugby in the UAE. Through the agreement Emirates will continue as the Federation’s Exclusive and official airline sponsor and sponsor of the Men’s, Women’s and Under 20’s National 7’s and 15’s teams. The agreement will span five years ...

  Dubai / Emirates Business The Global Certification Forum (GCF) is to seek input and feedback from mobile industry stakeholders about how its mobile phone certification scheme could add value for the industry and consumers in the Middle East. In association with UAE-based telecom service provider – du, GCF will host two workshops in Dubai during July 19-20 for operators ...

  Dubai / Emirates Business Emirates NBD, the UAE’s largest lender, delivered a solid set of financial results with net profit up 12% to AED 3.7 billion. The healthy operating performance was helped by an increase in total income, driven by asset growth and higher core fee income, coupled with higher recoveries. Emirates NBD’s solid financial and operating performance, along ...

  Dubai / Emirates Business Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has delivered strong results for the period ending June 30, 2016. Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, Vice Chairman and Managing Director of Emirates NBD, said: “We are extremely pleased with our strong growth and performance that underlines the growing relevance ...

  Sharjah / WAM The United Arab Bank, UAB, announced its financial results for the six months ended June 30, generating a net profit of AED71 million. The bank says that it is returning to its traditional ‘core’ corporate roots, complemented by focussed retail and treasury propositions, while continuing to pro-actively de-leverage from its ‘non-core’ higher risk portfolios in an ...

  ABU DHAB-BEIJING / WAM The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the China Securities Regulatory Commission (CSRC) entered into a Memorandum of Understanding (MoU) to facilitate cross-border activities and enhance regulatory collaboration between the two jurisdictions. The MoU provides a framework to provide assistance, exchange regulatory information and cooperate in the supervision ...