News

Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, has selected more than 100 tech startups to join its growing community, raising AED 185 million (USD 50.4m) in capital for the new businesses since its launch in March 2019, demonstrating the strong appeal of the UAE’s capital city among entrepreneurs worldwide. Under the patronage of HH Sheikh Khaled bin ...

ABU DHABI / WAM The central bank of the UAE (CBUAE) imposed a financial sanction on an exchange house operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations. The exchange house has a weak anti-money laundering and combating ...

Abu Dhabi / WAM Etihad Airways, the UAE national airline, has become the first airline in the world with all its operating pilots and cabin crew vaccinated to help curb the spread of Covid-19. In January 2021, Etihad was awarded Diamond status for ensuring the highest standards of cleanliness and sanitisation in the inaugural ‘Apex Health Safety, powered by SimpliFlying’ ...

Bloomberg The crude market is now offering its biggest yield in about a year — at a time when other asset classes are offering meager returns — causing a surge in investor appetite for the commodity. As oil futures power to $60 a barrel, the market’s forward curve has moved sharply into a pricing pattern where nearer-dated contracts are more ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, on Tuesday received at his palace Bakhtiar Ibrahimov, Ambassador of the Republic of Uzbekistan to the UAE. During the meeting, Sheikh Nahyan welcomed the ambassador of Uzbekistan and exchanged talks about the outstanding friendship between the UAE and his country, stressing the importance of boosting ...

DUBAI / WAM Visitors arriving at UAE airports will receive a “Martian Ink” stamp on their passports, in commemoration of the Hope Probe’s historic arrival to Mars on February 09. An emblem of the country’s ambition and guiding principle that the “Impossible is Possible”, the stamp — produced by the UAE Government Media Office in collaboration with Dubai Airports — ...

Bloomberg A World Health Organization (WHO) investigation in China found that the coronavirus most likely jumped to humans through an animal host or frozen wildlife products, finding that it’s “extremely unlikely” it came from a laboratory leak. No further research is needed to look into the theory about a leak, Peter Ben Embarek, a WHO official, told reporters on Tuesday ...

ABU DHABI/ WAM Low-cost airline Wizz Air Abu Dhabi has confirmed the start of its route from Abu Dhabi to Alexandria, Egypt, on February 22. The connection between Abu Dhabi and Alexandria provides an ultra-low fare travel option for tourists and residents in both UAE and Egypt, with fares starting as low as AED179. Kees Van Schaick, Managing Director of ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) has committed its support to a new FAB Scholars initiative, supporting the growth of Emirati students that have enrolled in the Paris II University law programme at DIFC Academy. Under the agreement between FAB and Paris II University [Université Paris 2 Panthéon-Assas] — the institution will be accepting up to 30 ...

Abu Dhabi / WAM The Federal Tax Authority (FTA) clarified that a natural person owning a number of sole establishments may only obtain one tax registration for all its sole establishments, and not a registration for each establishment separately. The FTA indicated that a sole establishment (also referred to as sole proprietorship) is a legal form of business which is ...