News

Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) announced on Sunday that international credit rating agencies Moody’s Investors Service and Fitch Ratings upgraded its final issuer ratings by three notches to Aa3 from A3 and by two notches to AA- from A, respectively. The ratings represent fourth highest investment grade rating on each of agencies’ rating scales and ...

Abu Dhabi / Emirates Business Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has recorded high levels of digital adoption across its retail and corporate banking services in the first half of 2020. Nearly 60% of ADIB’s retail customers have used digital channels, registering more than 2 million transactions every month as customers conduct a wide range of banking ...

Dubai / WAM Dubai’s ease of doing business is expected to improve further following the Dubai Chamber of Commerce and Industry’s announcement that it is cooperating with the Dubai Airport Freezone Authority (Dafza) to connect the digital services of both organisations. Under the terms of the new partnership, companies can register as Dubai Chamber members, or renew their existing membership, ...

AJMAN / WAM In a new look, Abdullah Al Muwaiji, Chairman of Ajman Chamber of Commerce and Industry, launched the website of the Chamber during a virtual meeting joined by members of the Board of Directors. The step comes within the endeavors of the Ajman Chamber to improve its electronic and smart services and to motivate its members and customers ...

Dubai / WAM The Dubai Financial Market (DFM) on Sunday announced that it is reopening its Trading Floor and Customer Affairs counters for investors as of Tuesday, July 7, with the strict implementation of precautionary measures for the safety of clients and employees. The DFM Trading Floor and Customer Affairs counters were temporarily closed mid-March. The DFM has maintained its ...

DUBAI / WAM The National Computer Emergency Response Team (aeCERT) of the Telecommunications Regulatory Authority (TRA) responded to approximately 103,408 cyber-attacks, during the month of June. The TRA revealed that its monthly report on cybersecurity developments in the Federal Government of the UAE for the month of June showed that the cyber-attacks varied between malware (73 percent), vulnerabilities (15 percent) ...

Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) announced on Sunday that international credit rating agencies Moody’s Investors Service and Fitch Ratings have upgraded its final issuer ratings by three notches to Aa3 from A3 and by two notches to AA- from A, respectively. According to a press release issued by Taqa on Sunday, the ratings represent fourth ...

Dubai / WAM Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), confirmed that RTA’s efforts to upgrade the technological infrastructure and transformation of all customer services to smart services enabled it to continue business normally during the Covid-19 crisis. He added that RTA was able to perform thanks to ...

Bloomberg Alpan Lighting Products, Inc, a US manufacturer of solar lamps, is shifting production from China to Indonesia, joining droves of companies looking to escape higher tariffs triggered by the trade war with the US. PT CDS Asia, a unit of Alpan, will invest $14 million to build a factory in an industrial zone in Central Java, Indonesia’s Investment Coordinating ...

Bloomberg Hangzhou Wahaha Group Co, one of China’s biggest drink makers, is weighing an initial public offering that could raise more than $1 billion, according to people with knowledge of the matter. A listing could come as soon as next year, the people said, asking not to be identified as the matter is private. The beverage company is working with ...