Local News

  RITIKA SHARMA / Emirates Business Going beyond its regular ‘sun-sand-shopping’ image, UAE is making considerable strides towards eco-tourism and making it a vital part of the buoyant UAE hospitability sector along with the financial diversification. According to World Travel and Tourism Council forecasts, the UAE’s tourism sector is expected to experience annual real growth of about 6.5 percent till 2021, ...

  Dubai / Emirates Business Emirates NBD, one of the leading banking Groups in the region, has revealed findings on the habits and attitudes with regards to finance and banking, among people with disabilities in the UAE. The research, undertaken in partnership with IPSOS and Sustainable Square, sought to identify and understand the challenges that people with disabilities experience with ...

  Dubai / Emirates Business According to a report on consumer card spends for the first quarter of 2016 by Network International, the leading payment solutions provider in the MENA region, domestic card spends in the country have increased by 12% in the first quarter of 2016 compared to the same period last year. The report, based on credit and ...

  Dubai / Emirates Business Young Arabs are increasingly positive about entrepreneurship with more than half believing members of this generation are more likely to start a business than the previous one. The key finding from the Eighth Annual ASDA’A Burson-Marsteller Arab Youth Survey was unveiled by Sunil John, the founder and CEO of ASDA’A Burson-Marsteller and a panelist at ...

  ABU DHABI / WAM Mohammed Thani Murshid Al Rumaithi, Chairman of the Federation of the UAE Chambers of Commerce and Industry and Chairman of Abu Dhabi Chamber of Commerce and Industry, met with Mohammed Omar Abdullah Belfaqeeh, UAE Ambassador to the Republic of Singapore, and discussed ways of enhancing joint cooperation with Singaporean companies. At the meeting at the ...

  Bloomberg DP World Ltd., the Dubai-owned company that operates ports from China to South America, raised $1.2 billion from the sale of Islamic bonds and said a tender offer to buy back securities received 48 percent more bids than the target. The company sold a seven-year sukuk that will be priced to yield 237.5 basis points, or 2.375 percentage ...

  Sharjah / WAM HH Sheikh Dr Sultan bin Mohammed Al Qasimi, Member of the Supreme Council, Ruler of Sharjah and President of American University of Sharjah (AUS) received Bill McDermott, Chief Executive Officer of SAP, in his office at AUS on Tuesday. The meeting was attended by Hamid Jafar, member of the AUS Board of Trustees and Chairman of the ...

  Dubai / WAM Emirates Islamic, a Dubai-based Islamic financial institution, on Tuesday announced that it had successfully closed the issuance of a US$750 million 5-year sukuk from its US$2.5 billion Certificate Issuance Programme. The issue, which will be listed on NASDAQ Dubai and the Irish Stock Exchange, received overwhelming investor interest from across the globe and marked the bank’s return ...

  Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) conducted a ground-breaking ceremony for the first phase of the Smart Grid Station (SGS) at DEWA’s green vehicle workshop in Ruwayyah, in partnership with Korea Electric Power Company (KEPCO). This new achievement reflects DEWA’s efforts to achieve the Smart Dubai initiative, launched by ...

  Abu Dhabi / WAM The CEO Advisory Council of the UAE Banks Federation, the professional body representing 49 banks in the UAE, on Tuesday held its second regular meeting for this year, and reviewed progress made on the “Modus Operandi”, the initiative recently launched by UBF to rescue and support SMEs and corporates indebt. The meeting which was chaired by ...