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DUBAI / WAM Dubai CommerCity, the first and leading e-commerce free zone in the region, has signed a strategic Memorandum of Understanding (MoU) with Mashreq, one of the leading financial institutions in the UAE. The MoU aims to offer small to medium enterprises (SME) with the ideal ecosystem for setting up their e-commerce business, through providing them with access to ...

Dubai / WAM DP World Limited has handled 58.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first nine months of 2021, with gross container volumes increasing by 11.9 percent year-on-year on a reported basis and up 11.4 percent on a like-for-like basis. On a Q3 2021 basis, DP World handled 19.8 million TEU, ...

Dubai / Emirates Business Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic and popular private real estate developers in the UAE, on Tuesday announces the launch of Skyz Tower, a Mediterranean-themed high-rise residential tower with elegantly-designed apartments, retail outlets and recreational facilities with a development value exceeding AED475 million. The project will be developed at ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 352,721 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Tuesday, the ministry stressed its aim to continue expanding scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out necessary treatment. As ...

ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan has sent a message of congratulations to President of Uzbekistan, Shavkat Mirziyoyev on his re-election to the post. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and ...

DUBAI / WAM Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, Chairman of the Board of Directors of the Etihad Credit Insurance (ECI), commended the ECI for receiving the Insurance Financial Strength (IFS) Rating and an Issuer Default Rating (IDR) of AA- (Very Strong) with Stable Outlook from Fitch Ratings, for the third year in a row. Fitch ...

Fujairah / Emirates Business The National Bank of Fujairah (NBF) announced its results for the nine month period ended September 30. The bank achieved a net profit of AED90.4 million for the nine month period ended September 30, an increase of 36.4% over the corresponding period of 2020 driven by improving underlying business momentum and good progress across the bank’s ...

Dubai / Emirates Business Emirates plans to boost its operational workforce as the carrier announced to recruit more than 6,000 staff over the next six months. As restrictions ease worldwide with the wider administration of the vaccine, additional pilots, cabin crew, engineering specialists and ground staff will be needed to support the airline’s ramp up of operations across its global ...

Dubai / Emirates Business The Dubai Financial Services Authority (DFSA) on Monday launched its regulatory framework for Investment Tokens. The framework reflects the proposed regulations outlined in Consultation Paper 138 issued in March 2021 and forms the first of two phases of the DFSA’s Digital Assets regime. The regulatory framework defines an Investment Token as either a Security Token or ...

Abu Dhabi / Emirates Business UAE’s first licensed digital-only bank – Al Maryah Community Bank LLC, has appointed Adeeb Ahamed, Managing Director of Abu Dhabi based LuLu Financial Holdings to the position of advisor to the board members. Adeeb, whose investments in financial services and digital payments span 11 countries in the GCC, Indian sub-continent and APAC regions, is an ...