News

ABU DHABI / WAM The central bank of the UAE has revealed that the gross assets of banks operating in Abu Dhabi and Dubai have risen to around AED2.897 trillion, by the end of April, accounting for 92 percent of total banking assets in the country, which are estimated at AED3.156 trillion. Dubai banks’ assets amounted to AED1.489.2 trillion, according ...

RAS AL KHAIMAH / WAM Gulf Pharmaceutical Industries, Julphar, on Monday announced the launch of its AED500 million ($136.13 million) rights issue as the company progresses on its ambitious turnaround plan. The rights issue is set to improve the company’s capital position and debt profile and will provide the financial foundation for the successful implementation of the company’s medium-term growth strategy, ...

ABU DHABI / WAM The Khalifa Industrial Zone Abu Dhabi (Kizad), broke ground for a new dedicated Truck Plaza, comprising refuelling and rest facilities with the Industrial Zone. The project was introduced to HH Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Executive Council and Chairman of Abu Dhabi Executive Office, during his visit to Kizad to ...

RIYADH / WAM Forces of the Coalition to Restore Legitimacy in Yemen on Monday intercepted and destroyed two Saudi-bound drones launched by the Houthi militia in Yemen, reported the Saudi Press Agency (SPA). In a statement, the coalition’s official spokesperson, Colonel Turki Al Malki said, “Coalition forces have successfully intercepted and destroyed on Monday two UAVs launched by the terrorist ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the UAE’s leading national entity spearheading global development projects, has announced an AED 1 billion initiative to support national companies during the Covid-19 pandemic. The initiative, which lasts for the duration of 2020, provides concessionary loans for national companies operating in sectors crucial to the UAE economy – such ...

Abu Dhabi / Emirates Business Etihad Airways launched ‘Etihad Wellness’, an expanded and more comprehensive health and hygiene programme and customer guide. This builds on the stringent measures already put in place by the airline to deal with Covid-19. The programme will be championed by the introduction of specially trained Wellness Ambassadors, a first in the industry, who will provide ...

Abu Dhabi / WAM Louvre Abu Dhabi added to its digital offering by releasing a 20-minute cinematic podcast entitled, ‘We Are Not Alone’. Composed and produced by Soundwalk Collective, an experimental group of artists and musicians, this podcast invites audiences to discover Louvre Abu Dhabi’s unique architecture through a science-fiction narrative, a statement by the museum said on Monday. The ...

ABU DHABI / WAM The Pest Control Projects Department at Abu Dhabi Waste Management Centre (Tadweer) has conducted an intensive pest control programme as part of its preventive measures to ensure the health and safety of residents in the emirate. As part of the drive, Tadweer launched an awareness campaign targeting real estate contractors, consultants, and developers in the emirate ...

RAS AL KHAIMAH / WAM The Group CEO of Al Hamra Benoy Kurien announced on Monday that they will reopen two shopping malls – Al Hamra Mall and Manar Mall in Ras Al Khaimah, which will operate from 10 am until 10 pm, as per the directives of the Ras Al Khaimah Department of Economic Development. “Shoppers are mandated to ...

ABU DHABI / WAM Emirates Transport Taxis, a subsidiary of Emirates Transport, announced that it had completed 5,204,308 trips in 2019. The Abu Dhabi-based company was launched back in October 2017 with a fleet of just 200 cars, which has since increased to 800 vehicles of various sizes and 1,000 drivers. Ali Yousef, Manager of Emirates Transport Taxi, said that ...