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Mashreq signs pact with Dubai CommerCity

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 ...

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Expo 2020 Dubai promotes global cooperation to achieve sustainable development

Dubai / WAM Abdullah Ali Ateeq Al Sabousi, UAE Ambassador to Australia, has said that Expo 2020 Dubai promotes international cooperation in drafting a global action plan to achieve sustainable development. In an interview with the Emirates News Agency (WAM), Al Sabousi highlighted the importance of the UAE’s hosting of Expo, a platform for promoting the country’s overall capacities and ...

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Rakbank posts AED534.7mn net profit in first nine-months

Emirates Business The National Bank of Ras Al-Khaimah (Rakbank) announced a consolidated net profit of AED534.7 million for the nine-month period ended September 30, compared to the net profit of AED438.6 million for the same period last year. The total assets during the period equated to AED54.5 billion, increasing by 4.1% year-on-year and by 3.3% year-to-date. There are several factors ...

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Dubai CommerCity signs strategic deal with Mashreq

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 ...

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DP World reports strong volume growth of 11.9% in Q3 2021

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, ...

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Danube Properties launches AED475mn Skyz Tower in Dubai

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 ...

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UAE sees 125 new recoveries from Covid-19

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 ...

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UAE rulers wish Uzbek president on re-election

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 ...

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ECI gets Fitch’s AA- rating for 3rd year in a row

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 ...

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NBF’s nine-month net profit up 36.4% to hit AED90.4mn

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 ...

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