News

Dubai / WAM Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, on Wednesday rang the market-opening bell at Nasdaq Dubai to celebrate the listing of a $750 million conventional bond. The capital raised will assist the activities of Emirates NBD. The perpetual bond is callable after six years and pays a coupon of 6.125 percent. The ...

Abu Dhabi / WAM Zaki Nusseibeh, Minister of State, and Roberto Blanco Dominguez, Ambassador of Cuba to the UAE, have reviewed ways of boosting relations of cultural and technical cooperation between the two friendly countries. During the meeting, which was held virtually on Wednesday, Nusseibeh said that the UAE is keen to strengthen cultural cooperation with many countries of the ...

Dubai / WAM Dubai Islamic Bank (DIB) on Wednesday announced its net profit reached AED 2.12 billion during the first half of the year, as it continues to demonstrate healthy profitability whilst ensuring prudence in growing the balance sheet. According to financial results for the period ending June 30, the bank’s total income reached AED 6.82 billion whilst net operating ...

Abu Dhabi / Emirates Business The Federal Tax Authority (FTA) has held an online virtual workshop for accredited tax agents, which addressed the timeframe for input tax recovery and redemption procedures. During the workshop, which was held with the participation of 213 accredited tax agents and a number of authority officials, participants’ inquiries were answered, clarifying the criteria and procedures ...

ABU DHABI / WAM The United Arab Emirates on Wednesday sent an aid plane carrying 8 metric tons of medical supplies and Covid-19 testing kits to Namibia. This aid will assist approximately 8,000 medical professionals as they work to contain the virus. “The UAE continues to support development in African countries and meet their needs in furtherance of the UAE’s ...

Abu Dhabi / WAM The Abu Dhabi Department of Education and Knowledge (Adek) has issued holistic guidelines to reopen private schools with safety measures in place for the new academic year. Adek has worked extensively over the last few months with schools, parent representatives, teachers and the relevant authorities to make these policies as comprehensive as possible. The policies are ...

DUBAI / WAM The UAE ranked first in the Gulf, Arab Region, and Western Asia, and the seventh globally in the Telecommunication Infrastructure Index (TII) according to the UN E-Government Survey 2020. It also ranked second in Asia in this index. In addition, the UAE made significant progress in the global competitiveness indicators of the telecommunications sector in the report, ...

Dubai / emirates business Etisalat Group on Tuesday announced its consolidated financial results for the first six months of 2020 ending June 30. The subscriber base of Etisalat Group during the period reached 146 million. The consolidated revenues of the group amounted to AED25.6 billion and consolidated net profit after Federal Royalty amounted to AED4.6 billion representing a year over ...

Dubai / WAM Arabtec Holding, a contractor for social and economic infrastructure, on Tuesday announced that its wholly-owned subsidiary, Target Engineering Construction Company has been awarded around SAR200 million (AED195.88) contract by Saudi Aramco for the replacement of five storage tanks at Ras Tanura Refinery in Eastern Province, Saudi Arabia. In a statement by the company on the Dubai Financial ...

CAIRO / WAM Egyptian President Abdelfattah El Sisi has said that the launch of Hope Probe into space is a groundbreaking step for the UAE into the sphere of space exploration. In a tweet on Monday, President El Sisi said, “I followed with great pride the launch of Hope Probe into space. Though this is an unprecedented historic step for ...