News

Abu Dhabi / WAM The Abu Dhabi Judicial Department (ADJD) announced that it launched a digital money order system for the disbursement of amounts held in deposit. All the disbursement process has been automated starting from the deposit system until remittance in the beneficiaries’ accounts. This wholly electronic process was made possible by linking the ADJD systems with the servers ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced on Sunday that it conducted 71,216 additional Covid-19 tests over the 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 the necessary ...

Abu Dhabi / WAM Waha Capital PJSC, a leading investment company in Abu Dhabi, has announced an investment of AED 184 million ($50 million) in Despegar.com, a leading NYSE-listed company in the online travel sector. An addition to its investment programme initiated in May comprising a total of up to $150m in US-listed companies, the new investment supports Waha Capital’s ...

Dubai / WAM Dubai’s International Humanitarian City (IHC) continued to send additional aid to assist the people of Lebanon by airlifting the third consignment of humanitarian supplies to the country. Two Emirates SkyCargo aircraft, chartered by Dubai’s IHC, left Dubai International Airport with the aid supplies carrying approximately 30 metric tonnes of aid, including approximately 12 tonnes of medical supplies ...

Dubai­­­­ / WAM The Government of Dubai Media Office (GDMO) launched #AskDXBOfficial, an initiative that gives the public and the media a chance to ask questions to Dubai’s senior government officials. The initiative is part of GDMO’s objective of creating platforms that allow the community to clarify issues and concerns with government officials. The first #AskDXBOfficial interaction this week featured ...

Bloomberg Oil slipped as signs of stumbling recoveries in major economies from Europe to Asia threaten to delay a demand rebound. Futures in New York fell 1.1%, narrowing a weekly gain to just under 1%. Europe’s economy unexpectedly lost momentum this month, with the region battling to control a new spike in coronavirus cases. Meanwhile, a gauge of Japan’s service ...

Bloomberg China’s fragile economic recovery is ushering in a dangerous new phase for the nation’s $4.1 trillion corporate bond market. With the economy now strong enough for policy makers to dial back financial support but still too weak to save the most distressed borrowers, some fund managers are bracing for defaults on domestic Chinese debt to hit record highs this ...

Dubai / WAM In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum issued Law No. (9) of 2020 regulating family-owned businesses in Dubai. By providing a clear legal framework for family ownership in the emirate, the new law seeks to protect families’ wealth, enhance the contribution ...

DUBAI / WAM Unifeeder on Wednesday announced the acquisition of Transworld Feeders FZCO, Avana Logistek Limited, including its subsidiary Avana Global FZCO, and Transworld Feeders Pvt. Ltd., the containerised Indian coastal and Exim feeder shipping operations of Shreyas Shipping and Logistics Limited, excluding vessels and bulk operations. The transaction, made via Unifeeder, through its Unifeeder ISC (Indian Subcontinent) platform, a ...

Abu Dhabi / WAM Total assets of the 18 listed national banks rose to around AED3 trillion in H1 2020, up 8.2 percent, compared to the comparable period of 2019, reflecting the strong financial profile boasted by the Emirati banks, according to data released on their websites. The sector’s activity is highlighted by the profitability of the banks, as deposits ...