News

ABU DHABI / WAM Value of funds collected through the UAE Direct Debit system (UAEDDS) of the central bank of the UAE (CBUAE) rose by 7 percent to AED61 billion in 2019 from AED57 billion in 2018, according to figures released by the CBUAE. The statistics noted the increase in the funds settled through the UAEDDS was matched with a ...

Abu Dhabi / WAM Wizz Air Abu Dhabi, the newest national airline of the UAE, announced on Sunday that it will fly two new Airbus A321neo aircraft and offer six routes from Abu Dhabi starting October 1. Tickets are on sale on wizzair.com and the airline’s mobile app, with fares starting at AED 129. Wizz Air Abu Dhabi, the joint-venture ...

Dubai / WAM The UAE Ministry of Economy and the China Council for the Promotion of International Trade (CCPIT) have announced that they will together host the first China-UAE Economic and Trade Digital Expo on July 15, a platform designed to reinvigorate trade activities between the two countries as they seek to lay the foundations for bilateral trade in the ...

Dubai / WAM HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the Dubai International Financial Centre (DIFC) issued a Decision reappointing Saeb Eigner as Chairman of the Dubai Financial Services Authority’s (DFSA) Board of Directors. His Highness also appointed Fadel Al Ali as Deputy Chairman of the Board and Abdul Wahid Al ...

ABU DHABI / wam Etihad Aviation Group announced the launch of Al Watani programme, a new local content programme for suppliers who would like to partner with the national airline of the UAE to provide their products and services. Vendors across the supply chain are encouraged to join the Al Watani programme provided they fulfil its application criteria. To be ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity that supports sustainable economic development at home and abroad, has announced a significant initiative whereby it has decided to suspend debt service repayments during 2020 for eligible countries, as well as individual businesses, in the developing world upon request for forbearance. The sole objective behind ...

Dubai / WAM Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA) has highlighted the importance of RTA’s efforts to improve traffic safety, as well as pedestrian safety. He took note of the impact of building footbridges, which reduced pedestrian fatalities by 76.5% between 2007 and 2019. Al Tayer also ...

Bloomberg President Donald Trump said a phase two trade deal with China isn’t under consideration, saying the relationship between Washington and Beijing has deteriorated too much. “I don’t think about that,” Trump said when asked about the possibility of a second round of trade agreements with China. “The relationship with China has been severely damaged.” Trump’s comments — made to ...

Bloomberg Jio Platforms Ltd., the digital services business controlled by billionaire Mukesh Ambani, completed the sale of 6% of its shares for about $4 billion. Saudi Arabia’s Public Investment Fund closed a deal for a 2.3 percent stake for 113.7 billion rupees ($1.5 billion), according to an exchange filing from Jio’s parent, Reliance Industries Ltd. Silver Lake purchased 2.1% of ...

Bloomberg Oil rebounded as a new virus treatment showed promising results, but rising Covid-19 cases continued to weigh on the market. Oil gained 2.4% in New York, but is still down for the week. The market followed stocks higher after Gilead Sciences Inc. said its remdesivir treatment cut Covid-19 mortality risk by 62%. Still, the coronavirus pandemic is far from ...