Local News

  Ritika Sharma / Emirates Business Aiming to provide entrepreneurial opportunities for young innovators, various UAE companies are creating platforms to nurture the hidden talent in students by organising international competitions and networking workshops. In one such initiative, Al Bayt Mitwahid, a public benefit association in UAE, partnered with Microsoft on the recently held Imagine Cup 2016, where young innovators ...

  Abu Dhabi / Emirates Business The Telecommunications Regulatory Authority (TRA) has announced that ‘Khadamati,’ the one-stop-shop smart portal for federal entities seeking access to all types of government services, has become the first smart application to be hosted and made available through the UAE’s cloud computing project. Under ‘UAE Smart Cloud’, an initiative being implemented by TRA as part ...

  ABU DHABI / WAM The Emirate of Abu Dhabi on Tuesday announced that it has successfully issued its benchmark dual-tranche 5 and 10 years, US$ 5bn bonds. The 5-year Bonds was priced on 25th April 2016 at a yield of 2.218%; the 10-year Bonds with a yield of 3.154% with a spread of 85bps and 125bps respectively, over the ...

  DUBAI / WAM The Emirates Group released its 2015-16 annual report, announcing that the group posted an AED8.2 billion (US$2.2 billion) profit for the financial year ending 31st March, 2016, up 50% from last year. The group’s revenue reached AED93 billion (US$25.3 billion), a decrease of 3% over last year’s results, and the group’s cash balance increased strongly to ...

  DUBAI / WAM The Dubai Electricity and Water Authority (DEWA) discussed investment opportunities in energy projects and cooperation with Swiss companies operating in the UAE. This came at a meeting which was attended by Saeed Mohammed Al Tayer, MD & CEO of DEWA, and attracted 100 Swiss companies under the theme ‘Business Innovation’ at the Sustainable Building in Al ...

  DUBAI / WAM The Dubai Financial Services Authority(DFSA) fined two individuals AED205,520 each for failing to act with due skill, care, which caused an Authorised Firm to breach the DFSA’s Anti-Money Laundering(AML) Rules. Raphael Lilla and Kapparath Muraleedharan were both Licensed Directors and members of the Board of Directors at a DFSA Authorised Firm. In August 2014, Lilla and ...

  Dubai / Emirates Business HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA) Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group, on Tuesday inaugurated the 3rd edition of the World Travel Catering and Onboard Services Expo Middle East (WTCEME) with strong participation from more than 70 international travel ...

  Dubai / WAM The Dubai Chamber of Commerce and Industry has called upon the public and private sectors of the country to support enhancement of UAE investments in the South African market. During its recent trade mission to South Africa, Dubai Chamber urged its trading partners from the public and private sectors, as well as the South African Chambers ...

  Abu Dhabi / Emirates Business Etihad Guest, the multi-airline loyalty programme from Etihad Airways, has won the ‘Best Affinity Covered Card Award’ alongside Abu Dhabi Islamic Bank (ADIB) for the Middle East and Asia region at the Freddie Awards 2016. The annual ceremony was recently held in Las Vegas, Nevada. Introduced in 1988 by InsideFlyer magazine’s Randy Petersen, the ...

  Dhaka / WAM The UAE Ambassador to Bangladesh, Dr. Saeed bin Hajar Al Shehi, has met Nurul Islam, Minister of Expatriates’ Welfare and Overseas Employment of Bangladesh, to discuss methods of qualifying the Bangladeshi workforce overseas. The Bangladeshi minister reviewed efforts being made by his country to achieve welfare for Bangladeshi workers abroad. For his part, Al Shehi affirmed ...