News

  Dubai / WAM The UAE is expected to increase expenditure, primarily in areas of infrastructure and developmental enterprises, which will reflect positively on the government’s revenues, according to a report released by an international consultancy recently. In a report published by the Dubai-based Arabic Language Al-Bayan newspaper, Knight Frank, a leading independent real estate consultancy, expected the UAE business outlook …

  Abu Dhabi / WAM Etihad Airways is reassuring passengers of its highest level of service to minimise disruption following the introduction of a new US travel directive on electronic devices. Effective March 25, passengers on all US-bound flights from, or transiting through, Abu Dhabi International Airport will be barred from carrying electronic devices bigger than a smartphone or mobile …

  Abu Dhabi / WAM The UAE is committed to further strengthening trade and economic relations with Mexico and maximising the potentials of their partnership, said Sultan bin Saeed Al Mansouri, Minister of Economy, during a meeting with Francisca Escobar, Mexico’s Ambassador to the UAE. The meeting held at the Ministry’s headquarters in Dubai discussed ways to enhance cooperation in …

  Sharjah / WAM Air Arabia announced Trabzon as its latest Turkish destination to enter its route network, starting June 23. The new seasonal non-stop service provides passengers with the chance to discover Turkey’s historic port city, in addition to its already existing services to Istanbul. The flight will operate three times weekly on Mondays, Wednesdays and Fridays, departing Sharjah International …

  Abu Dhabi / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, has said the United Arab Emirates is keen to join global environmental conservation and preservation efforts to protect the environment and reduce greenhouse gases. In a statement marking Earth Hour, a global event observed worldwide to encourage individuals, communities, households and businesses to turn off …

  Dubai / WAM The Mohammed Bin Rashid Fund (MBRF) announced a new competition as part of the ‘Careers UAE’ fair with a total prize money of AED1 million on offer for future UAE entrepreneurs. The competition named “START”, was launched under Dubai SME, an agency of the Department of Economic Development, DED, in Dubai, and aims to assist unemployed Emiratis …

  Sharjah / WAM The free afternoon parking from 1pm to 5pm in the Emirate of Sharjah will be cancelled effective April 1, the Sharjah City Municipality announced. “The new paid parking times will be from 8.00 am till 10.00 pm every day except for Fridays and public holidays,” said Salim Al Suwaidi, Assistant Director-General for Customer Service at Sharjah Municipality. …

  Bloomberg Royal Dutch Shell Plc has agreed to sell its onshore oil assets in Gabon to a unit of Carlyle Group LP for $587 million, taking it closer to its $30 billion divestment target. Carlyle’s unit Assala Energy Holdings Ltd. will also take on $285 million of debt from Shell’s Gabon unit and will make an additional payment of …

  Bloomberg China Petroleum & Chemical Corp. reported its first profit gain in three years as the world’s largest oil refiner got a boost from cheaper crude and took a one-time gain from pipeline sales. Net income in 2016 rose 44 percent to 46.7 billion yuan ($6.8 billion), the company known as Sinopec said in a statement to the Shanghai …

  Bloomberg Chinese conglomerate HNA Group Co. agreed to buy a 25 percent stake in Old Mutual Plc’s U.S. asset management unit for about $446 million, adding to a $30 billion spending spree since last year. Old Mutual is selling down its holdings in OM Asset Management to HNA Group in two tranches, according to an emailed statement on Sunday …