News

Bloomberg Dubai’s Damac Properties PJSC surged to a two-year high on Sunday after saying its board will consider an acquisition within days. The Dubai-based property developer didn’t provide further information in a regulatory filing, but said its board will meet on December 23. Its shares climbed as much as 14.3%, the most in two months, to their highest levels since ...

DUBAI / WAM Executive committee members of the initiative for Dubai Membership in the UNESCO Creative Cities Network in the field of design held a virtual meeting with the Singapore Design Council. The Dubai side was led by the Chairman of Executive Committee and the Acting Director of the Executive Planning Department in Dubai Municipality, Asim Al Qasim, in the ...

Abu Dhabi / WAM Fitch Ratings (Fitch) has affirmed Adnoc Group a standalone credit rating of AA+. According to Fitch, the rating reflects Adnoc’s high upstream production and vast oil reserves, very low cost of production, integration into downstream operations, very conservative financial policies, high financial flexibility and low leverage, and its strong unit profitability. In line with its Government-Related ...

DUBAI / WAM Emirates has announced that it will be operating its flagship Airbus A380 aircraft on the Dubai — Sao Paulo route between January 9 and January 30, 2021. The Emirates A380 will be deployed four times weekly to Sao Paulo in response to the summer season increase in demand for travel to and from Brazil. This will be ...

DUBAI / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, issued AED420 million worth of trade credit support to the small and medium enterprises (SMEs) from January to November 2020, which translates to AED1 billion non-oil trade insured turnover, as it carries out its mandate of accelerating the UAE’s non-oil economy and ensuring business continuity. Mirroring its ...

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, visited a number of vital, academic and service projects in the city of Khorfakkan on Sunday morning. During the tour, the Ruler of Sharjah listened to an explanation from Ali bin Shaheen Al Suwaidi, Chairman of Sharjah Directorate of Public Works ...

ABU DHABI / WAM Abu Dhabi Waste Management Centre (Tadweer) on Sunday opened an environmentally friendly waste treatment complex named “Eco Park” as part of its efforts to promote sustainable waste management in the Emirate of Abu Dhabi. Located about 70 kilometres from Abu Dhabi city on Hamim Road, the complex is spread over an area of 1.8 million square ...

DUBAI / WAM Customs Training Centre at Dubai Customs organised 665 training sessions in the first nine months of this year, including 609 sessions on the digital platforms. These training workshops and programmes targeted 3,348 employees from different divisions in Dubai Customs. In 26,000 training hours in total, it covered topics such as customs risk evaluation, smuggling methods, security sense, ...

DUBAI / WAM On December 26, Majid Al Futtaim Malls across Dubai will host the 12-Hour Sale, with huge savings of 25 percent to 90 percent available at Mall of the Emirates, City Centre Mirdif, City Centre Deira, City Centre Me’aisem, My City Centre Al Barsha and City Centre Al Shindagha. Running from 10am to 10pm, the epic one-day promotion ...

DUBAI / WAM Dubai Municipality has won the global Most Innovative Knowledge Enterprise (MIKE) award, making it one of the five best institutions in the world in the field of knowledge management and innovation. One of the oldest and most prestigious international awards in the field, the MIKE Award is a global benchmarking study that assesses effective knowledge management and ...