News

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) continues to achieve the vision of the leadership to build a more sustainable environment and develop long-term solutions for challenges in line with the 17 UN Sustainable Development Goals (SDGs). Dewa adopts the triple bottom line of sustainable development which includes society, the environment, and the economy. This also achieves Dewa’s ...

ABU DHABI / WAM The Abu Dhabi Department of Economic Development (ADDED) has signed a cooperation agreement with Abu Dhabi Future Energy Company (Masdar) on protecting consumers, trademarks, control and inspection of markets within Masdar City Free Zone. The agreement will enhance cooperation between both sides to set up rules and foundations for commercial protection and expanding its scope. The ...

Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of the Etihad Aviation Group, selected Rom Top Aviation Ltd as its general sales agent (GSA) for the State of Israel. The appointment comes ahead of the April 6 launch of Etihad’s scheduled twice-weekly Abu Dhabi-Tel Aviv service and as official Israeli government figures point to rising trade with ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 195,573 additional Covid-19 tests over past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out necessary treatment. As part of ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the Emirates Development Bank (EDB) Strategy to provide a sizeable AED30 billion financial support to businesses and start-ups in a major step to drive the national economy. Launched to support “Operation 300bn”, the EDB Strategy aims to leverage the Bank’s ...

Dubai / WAM Dubai Chamber of Commerce and Industry’s representative offices in Africa organised a webinar in cooperation with Oxford Business Group and the Pan African Chamber of Commerce and Industry, which covered some of the key benefits of doing business in Africa. The virtual event, attended by 163 participants from the UAE and Africa, aimed to familiarise UAE companies ...

DUBAI / WAM Dubai Mercantile Exchange (DME) on Monday announced the launch of Alternative Crude Ecosystem (ACE) — a new bilateral trading platform to enable participants to trade multiple crude grades through the exchange. DME, which is based in Dubai International Financial Centre (DIFC), will make the platform available for all participants and will offer traders the opportunity to trade ...

Abu Dhabi / WAM Shareholders of Abu Dhabi Islamic Bank (ADIB) have approved the distribution of a cash dividend of AED20.58 fils per share, representing 46.6 percent of net profits for the fiscal year ending December 31, 2020, as well as the Board of Directors Report, the Auditors Report and Financial Statements for the year. In its 2020 annual report, ...

Bloomberg The US is pressing ahead with plans to hit six nations that tax internet-based companies with retaliatory tariffs that could total almost $1 billion annually. Goods entering the US — ranging from Austrian grand pianos and British merry-go-rounds to Italian anchovies — could face tariffs of as much as 25% annually, documents published by the US Trade Representative (USTR) ...

Bloomberg France’s economy will rebound less than previously expected this year due to the latest four-week nationwide lockdown aimed at halting a surge in coronavirus cases. French Finance Minister Bruno Le Maire cut the country’s 2021 GDP growth forecast to 5% from 6%, following an 8.1% contraction last year. A Bloomberg survey in March showed economists were expecting the economy ...