News

ABU DHABI / WAM The UAE central bank revealed on Sunday that total banking investments reached AED396.2 billion ($107.86 billion) in November. According to banking indicators released by central bank, debt securities saw a jump of 16.7% year-to-date, with a total of AED245.4 billion. Bank deposits saw a rise of 4.6% year-on-year, with a total of AED1.8 trillion in November ...

Bloomberg China is taking a major step to open up sectors ranging from oil and gas to telecommunications and railways, easing market regulations and lowering financing costs for private companies. The government will offer more tax breaks and broaden incentives to more firms, according to a government statement published by the official Xinhua News Agency, which didn’t specify the industries. ...

ABU DHABI / WAM Developing the sustainable finance agenda in Abu Dhabi is at the heart of a new agreement signed by Abu Dhabi Global Market (ADGM), and the Authority of Social Contribution (Ma’an). The two organisations agreed to collaborate across multiple areas of work, in an effort to develop sustainable finance opportunities in the UAE. Sustainable finance opportunities describe ...

Abu Dhabi / WAM Etihad Airways, the national airline of the United Arab Emirates, and Kuwaiti flag carrier, Kuwait Airways, have signed a codeshare partnership on selected services on bookings effective December 22, for travel from January 5, 2020. According to a statement by Etihad airways, the national airline will place its ‘EY’ code – subject to regulatory approvals – ...

Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, and Kuwaiti flag carrier, Kuwait Airways, have signed a codeshare partnership on selected services on bookings effective December 22, for travel from January 5, 2020. Subject to regulatory approvals, Etihad will place its ‘EY’ code on Kuwait Airways operated flights from Abu Dhabi to Kuwait, ...

ABU DHABI / WAM Etisalat on Sunday announced the successful deployment of a multi-access edge computing, MEC, which will pave the way for the telecommunications entity to roll out new 5G-styled services, beginning with its content delivery network (CDN). MEC is a network architecture that brings real-time, high-bandwidth, low-latency access to radio network information, allowing operators to open their networks to a ...

Abu Dhabi / WAM The Department of Municipalities and Transport (DMT), and the Integrated Transport Centre (ITC), in Abu Dhabi have announced that some elements of the Abu Dhabi Toll Gate System Executive Regulations have been amended. According to the two authorities, the toll system will be activated on January 2, 2020 during peak hours only and aims to reduce ...

Dubai / WAM The Department of Economic Development (DED), in Dubai issued 3,818 new licences for various professional, commercial, industrial and tourism activities in November this year, in line with the continuing investor confidence in Dubai and new opportunities arising across diverse economic sectors. According to the Business Registration and Licencing (BRL), sector in the DED, 70.4 percent of the ...

Dubai / Emirates Business Affirming its commitment to celebrate the accomplishments of its cadres, and appreciate their dedication, loyalty, and continuous efforts to ensure customer happiness, Dubai Land Department (DLD) held a ceremony to honour the first mapping artist to work at DLD. Muhammad Murtadha Khan, who worked over 50 years at DLD. Murtadha joined DLD on May 31, 1969, ...

Dubai / WAM Emirates Development Bank (EDB), on Sunday signed an agreement to launch an online empowerment platform that will provide free essential resources and content to help entrepreneurs at various stages of their business development. Powered by Potential.com, the online platform will provide visitors to EDB’s website, as well as the general public, access to business courses, templates and ...