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Bloomberg RWE AG jumped to the highest since July after Germany’s biggest power producer said profit is on target and it plans to pay a dividend for the first time in three years. The Essen-based utility’s efforts to boost plant efficiency and the contribution of energy trading is helping compensate for weak power prices, Markus Krebber, chief financial officer at …

Bloomberg American International Group Inc. will give Brian Duperreault $12 million in cash, 1.5 million stock options and an annual pay package valued at $16 million to turn around the company as its seventh chief executive officer since 2005. AIG will also pay Duperreault’s previous employer, Hamilton Insurance Group, as much as $40 million over two years to waive their …

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, underlined the importance of raising government efficiency in delivering services to the public. HH Sheikh Mohammed’s remarks came during a visit to the Government Accelerators headquarters on Sunday. A solutions-based collaboration between government, private sector and academic …

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, have attended Mashreq Bank celebrations on the occasion of its Golden Jubilee. The ceremony was also attended by HH Sheikh Hasher bin …

BEIJING / WAM The UAE joined on Sunday more than 110 country delegations to participate in the Belt and Road Forum for International Cooperation, hosted by the Chinese Government in Beijing. The move is part of efforts to accelerate progress on the Belt and Road initiative, which aims to enhance cooperation and develop the economies along the Old Silk Road. …

Dubai / WAM To meet the needs of the public in a healthy and safe manner, the Dubai Municipality opened a new abattoir in Al Quoz area. Hussain Nasser Lootah, Director-General of the civic body on Sunday inaugurated the abattoir, behind Al Wahda Centre in the presence of Assistants to the Director General and directors of related departments. The abattoir …

Abu Dhabi / WAM AED 2 billion worth of transactions were conducted over NBAD’s share through 30 sessions since the merger of the First Gulf Bank and National Bank of Abu Dhabi that created the Middle East region’s largest banking entity under the name First Abu Dhabi Bank (FAB). With 1.3 million shares owned by foreigners, the increased trading over …

Dubai / WAM Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry, launched ‘Enatni’, an app designed to boost the exposure of Emirati-owned businesses. The app is the 27th commercial project launched under the Tejar Dubai entrepreneurship development programme, while it supports Dubai’s transformation to a global smart city. A launch ceremony at Dubai Design District was …

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Sunday visited Dubai Holding, the global investment holding company, where he announced the launch of ‘Marsa Al Arab’. Marsa Al Arab is a comprehensive tourist destination that aims to elevate family tourism in Dubai, as well as provide …

Dubai / WAM The Department of Finance for the Government of Dubai (DOF), the Investment Corporation of Dubai and Dubai Aviation City Corporation, have announced the successful signing of Airport Financing Company FZE, FINCO, US$3 billion credit facilities. The facilities represent the debut financing for FINCO as part of the long-term funding platform established for Dubai Airports. HSBC acted as …