News

Abu Dhabi / WAM The Abu Dhabi Islamic Bank (ADIB), a leading financial institution, signed an agreement to provide an $80 million Shariah-compliant Ijara facility to the Oman Shipping Company SAOC (OSC), a member of the ASYAD Group, for the financing of two VLCC (Very Large Crude Carriers) tankers within the OSC group. The transaction represents the OSC’s first Sharia-based ...

Abu Dhabi / WAM The number of trademarks registered in the UAE increased by 30.5 percent in December 2019 compared to November 2019, reflecting the country’s growing leadership as a regional business centre in the Gulf Cooperation Council (GCC), and throughout the Middle East. The UAE is ranked first in the Middle East and second in the world in attracting ...

DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX), on Sunday announced that it broke its annual volumes and Average Open Interest (AOI), records last year, making 2019 the most successful year since its launch. The exchange traded 23.06 million contracts in 2019 beating its previous record of 22.26 million contracts traded in 2018 with DGCX’s wholly-owned clearing house, ...

Sharjah / Emirates Business To establish and enhance collaboration in areas of 3D printing and robotic solutions through R&D, American University of Sharjah (AUS) and DGWorld FZ LLC, a Dubai-based technology company dealing with robotics and automation solutions, signed a Memorandum of Understanding (MoU). The agreement provides a framework of cooperation and facilitates collaboration between the two organisations in areas ...

Dubai / Emirates Business Emirates, the world’s largest international airline, announced the return of its signature pass, My Emirates Pass – a fantastic offer that turns an Emirates boarding pass into an exclusive membership card allowing customers to avail special benefits and discounts of up to 50% off in over 500 retail outlets and leisure destinations across the UAE. The ...

DUBAI / WAM Enoc Group on Sunday announced that two service stations have opened at Dubai Hills and Lehbab First, expanding Enoc’s network to 135 stations across the UAE. Commenting on the announcement, Saif Humaid Al Falasi, Group CEO, Enoc, said, “The launch of the new service stations is in line with our vision to invest into the country’s growing ...

Dubai / WAM Emirates Central Cooling Systems Corporation (Empower) released a set of guidelines on Sunday to help customers reduce energy consumption, hence cutting down their district cooling bills. The company said there are several methods to reduce the costs of consumption, which include: setting the air conditioner thermostat to 24 C, keeping curtains and windows closed, reducing the use of ...

ABU DHABI / WAM The Department of Urban Planning and Transport (DMT), announced that the 10th World Urban Forum (WUF10), the UN-Habitat conference that aims to raise awareness on sustainable urbanisation in cities and liveability across the globe, will be held in Abu Dhabi from February 8-13. To be hosted for the first time in the Arab region, the forum ...

Bloomberg Japan said it would tighten immigration procedures in the wake of Carlos Ghosn’s dramatic escape from the country after skipping bail, and ordered an investigation on how the former Nissan Motor Co chief disappeared. Justice Minister Masako Mori said authorities were “promptly” asked to find out how Ghosn left Japan without detection once she became aware of the incident. ...

Bloomberg Cyrus Mistry, the former head of Tata Sons Ltd will not seek to return as chairman of India’s biggest conglomerate despite winning a court case against his ouster. The National Company Law Appellate Tribunal, last month, also ordered Mistry to be reinstated as director of Tata companies. Mistry in an emailed statement on Sunday said he will not seek ...