News

Dubai / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, recorded an increase in net profit by 3 percent during the first six months (January to June) of 2019 to AED1.130 billion ($308 million), compared to the net profit of AED1.102 billion ($300 million) during the same period in 2018. Revenue for H1 2019 ...

Bloomberg Oil climbed to its highest level in more than two weeks as strong summer demand in the US continued to drain stockpiles. Futures rose as much as 1.3% after the Energy Information Administration reported American crude inventories fell by 8.5 million barrels last week, a seventh straight decline that was higher than all industry and analyst estimates. Stockpiles of ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), has expanded its sustainable finance outreach to Kenya. The Financial Services Regulatory Authority (FSRA), of ADGM and the Capital Markets Authority (CMA), of Kenya entered into a Memorandum of Understanding on Wednesday to enhance cooperation in sustainable finance in each other’s markets. Paul Muthaura, Chief Executive of CMA, and Philippe Richard, Executive Director-International ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received a phone call from Prime Minister Imran Khan of Pakistan. During the call, Sheikh Mohamed bin Zayed and the Pakistan PM discussed ties between the two countries and ways to further develop ...

Abu Dhai / WAM Humaid Mohammed bin Salem, Secretary-General of the UAE Federation of Chambers of Commerce and Industry (FCCI), and Dusan Horniak, Ambassador of Slovakia to the UAE, discussed ways of enhancing the cooperation and partnership between the private sectors of the UAE and Slovakia. During the meeting, which was held at the chamber’s headquarters, both sides explored investment ...

Sharjah / WAM United Arab Bank (UAB), has announced its financial results for the period ended June 30, reporting a net profit of AED36 million in H1 2019. According to a statement, total income recorded was AED282 million, supported by an increase in interest income of six percent in H1 2019 compared to the same period in 2018. The bank’s ...

Dubai / WAM The Ministry of Climate Change and Environment (MoCCAE), in collaboration with Dubai’s Community Development Authority (CDA), on Wednesday rolled out the Ghafat Al Khair initiative that aims to provide senior citizens in the emirate with 200 Ghaf seedlings to plant in their houses. To kick off the initiative that focuses on preserving nation’s heritage and environment in the ...

Dubai / WAM The Dubai Electricity and Water Authority (Dewa), revealed that 20 Emiratis visited the People’s Republic of China for two weeks as part of the ‘Ambassadors of Innovation – Leaders of the Future’ programme, which supports the UAE’s efforts to empower young people through creativity and innovation. The programme, implemented by the Dewa and the Watani Al Emarat Foundation, ...

Abu Dhabi / WAM The number of live births registered in Abu Dhabi over the past ten years has increased by 34 percent, with 38,285 babies born in 2018, compared with 28,456 in 2008. According to a report issued by the Statistics Centre in Abu Dhabi, the number of live births nearly tripled between 1977 and 2018, an increase of ...

ABU DHABI / WAM The Federal Tax Authority (FTA), announced that the sale and possession of all types of cigarettes not bearing ‘Digital Tax Stamps’ will be prohibited across UAE markets starting August 1. In a press statement released on Wednesday, the Authority explained that two types of Digital Tax Stamps were approved, the first of which is ‘Red’ and ...