Local News

  Dubai / WAM A total of 2,703 real estate transactions worth AED8 billion were conducted during the week ending October 21, according to figures released by the Dubai Land Department. 147 plots were sold for AED1.12 billion, and 2,023 apartments and villas were purchased for AED4.79 billion. The top transactions were a land Fourth sold for AED85 million in ...

ABU DHABI / WAM The fifth edition of Culture Summit Abu Dhabi, a global cultural forum, will welcome more than 180 cultural leaders from around the world at Manarat Al Saadiyat from October 23-25. Under the theme ‘A Living Culture’, the global event is set to explore the future of the culture sector and discuss creative solutions to some of ...

Dubai / WAM Today, the UAE leads global efforts in clean and renewable energy through its strategies and investments in this field. In 2021, the UAE announced the UAE Net Zero by 2050 Strategic Initiative, with investments of more than AED600 billion in clean and renewable energy until 2050. This makes it the first country in the Middle East and ...

Sharjah / WAM Arada has successfully closed a $100 million tap of its existing $350 million sukuk, which was issued in June and listed on the London Stock Exchange. The tap was priced at 99 cents on the dollar, with an investor yield of 8.386%. Arada’s existing five-year fixed rate RegS debut sukuk issuance was rated BB- by Fitch and ...

  Abu Dhabi / WAM EasyLease, the leading Mobility Solution company, a subsidiary of Abu Dhabi-based International Holdings Company (IHC), released its financial results and board meeting resolution letter for the third quarter of 2022, after market close on Friday, recording 32% YTD increase in net profit, higher by 17% than the market estimate. Easy Lease has posted a standalone ...

  Abu Dhabi / WAM The Ministry of State for Federal National Council Affairs (MFNCA) claimed two Gold Stevie awards in the International Stevie Business Awards 2022, after ranking first in the Human Resources Department of the Year and Organisation of the Year (Government Organisations) categories. The International Business Awards are among the most prestigious international business awards for creativity, ...

  Dubai / Gulf Time Sir Tim Clark, President Emirates Airline, re-affirmed the airline’s commitment to Mauritius at a dinner reception held yesterday evening on the occasion of its 20-year anniversary of operations in the nation. The event took place at the Labourdonnais Waterfront Hotel in the presence of the Honourable Pravind Kumar Jugnauth, Prime Minister of Mauritius, other dignitaries ...

  Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) on Thursday called on companies with more than 50 employees to expedite achieving Emiratisation rate of two percent for skilled jobs, in line with the concerned UAE Cabinet Resolution, before the end of 2022. Non-compliant companies will face financial penalities, which will be collected starting from January 2023. ...

  Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha), the UAE’s largest healthcare network, has signed a memorandum of understanding (MoU) with Abu Dhabi University (ADU) to bolster medical education and mutual knowledge transfer between the two entities. The partnership will aim to promote ties between both parties through student placements, training programmes, sharing of facilities and resources, ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) recorded substantial growth in the number of new transmission substations and investments allocated to transmission substations by 22% during the first half of 2022, compared to same period last year. From the beginning of this year until June, Dewa commissioned a new 400 kV transmission substation, and 10 new 132 ...