News

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has stressed that the UAE’s world-class infrastructure, robust economy, and resilience in the face of challenges give it the ability to rapidly achieve its strategic goals and aspirations for progress and prosperity. His Highness Sheikh Mohammed bin ...

Dubai / WAM Despite the decline in greenfield foreign direct investment (FDI) globally at the beginning of 2020 due to the challenges posed by the Covid-19 pandemic, Dubai has maintained its leading position among the top three global FDI destinations during the first five months of the year, according to Financial Times fDi Markets data. “Dubai ranked second globally in ...

ABU DHABI / WAM The UAE on Thursday sent an aid plane carrying 10.5 metric tons of medical supplies to Iraq to bolster the country’s efforts to curb the spread of Covid-19. This aid will assist approximately 10,500 medical professionals as they work to contain the virus. Commenting on the aid delivery, Mohamad Saleh Altenaiji, Charge d’affaires of the UAE ...

RAS AL KHAIMAH / WAM American University of Ras Al Khaimah (Aurak) is planning to introduce four new academic programmes. These comprise a Bachelor of Science in Artificial Intelligence and Data Science, a Bachelor of Arts in Interior Design, a Master of Science in Infrastructure Engineering, and a Master of Science in Sustainable and Renewable Energy. “We’re bringing out new ...

DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) has launched smart platforms for public bus drivers as part of an effort to automate drivers’ services, maximise their happiness, and encourage them to deliver better services to customers. “These platforms are smart devices programmed in several languages and directly linked to the Customer Relations Management system. Through these platforms, which ...

ABU DHABI / WAM In cooperation with the Abu Dhabi Investment Office (ADIO), the Abu Dhabi Agriculture and Food Safety Authority (Adafsa) developed a pipeline of investment projects worth AED1 billion for the private sector to enhance the food security and agricultural sustainability system in the emirate of Abu Dhabi. As part of these projects, Adafsa has awarded five investment ...

Dubai / WAM The Dubai Financial Services Authority (DFSA) on Thursday published a thematic review report on cyber risks which highlights several important opportunities for operational risk management practices of firms operating in Dubai International Financial Centre (DIFC). Launched in July 2019 to identify overall maturity level of cybersecurity programmes of firms authorised by the DFSA, the Cyber Thematic Review ...

Dubai / Emirates Business Emirates introduced additional cargo capacity by using Boeing 777-300ER aircraft with seats removed from the Economy Class cabin. The measure has been introduced in response to the strong air cargo market demand for the rapid, reliable and efficient transportation of essential commodities such as Personal Protective Equipment (PPE), pharmaceuticals, medical equipment, food, machinery and other supplies ...

Bloomberg The International Monetary Fund (IMF) downgraded its outlook for the coronavirus-ravaged world economy, projecting a significantly deeper recession and slower recovery than it anticipated just two months ago. The fund said it now expects global gross domestic product to shrink 4.9% this year, more than the 3% predicted in April. For 2021, the fund sees growth of 5.4%, down ...

Bloomberg Wirecard AG filed for insolvency proceedings after a massive accounting scandal brought the payments company to its knees. Wirecard management cited over-indebtedness as the reason behind decision to seek court protection in Munich. The company also said it’s considering whether the insolvency proceedings should also be applied to its subsidiaries. The company’s rapid fall from grace comes after it ...