Local News

  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 ...

  Dubai / Emirates Business In light of its participation as a gold sponsor in the 13th edition of the Annual Middle East Otolaryngology Conference and Exhibition, the largest meeting of Otolaryngologists in the Middle East, MED-EL Medical Electronics, the leading provider of hearing implant systems, announced the launch of new rechargeable battery options for the SONNET and SONNET EAS ...

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, honoured 50 young Emirati scientists who won the Think Science Competition 2016 at a ceremony held at the Higher Colleges of Technology in Dubai on Tuesday. Organised by Emirates Youth Foundation, the event was also attended ...

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, on Tuesday said the UAE will use its new role as chair of the Kimberley Process for 2016 to highlight and enhance its efforts to facilitate global trade and commercial ethics. He was speaking at the Kimberly Process Intersessional 2016 held at the Atlantis Hotel the Palm ...

  ABU DHABI / WAM Dubai Holding, through its real estate arm Dubai Properties Group, on Tuesday unveiled Marasi Business Bay, a new waterfront destination and its largest development along the creek within the Business Bay destination, with a total investment cost exceeding AED1 billion. Commenting on the new project, Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding said, “Located ...

  ABU DHABI / WAM The United Arab Emirates, represented by the General Civil Aviation Authority (GCAA), signed an Air Services Agreement (ASA) with Italy. The agreement was inked by Saif Mohammed Al Suwaidi, Director-General, of the UAE General Civil Aviation Authority, and Massimo Gaiani, Director-General for Global Issues and for Asia, Sub Saharan Africa, and Latin America, at the ...