News

Abu Dhabi / Emirates Business The value of announced M&A transactions in the Middle East and North Africa (Mena) reached an all-time high of $112 billion in the first half of 2019, according to a report from financial data provider Refinitiv. The increase of 231 percent compared to the value recorded during 2018, was driven by Saudi Aramco’s $69.1 billion ...

Bloomberg His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, underscored that preserving Yemen’s security and stability and supporting its people were part of the established pillars of the UAE policy since the time of the late founding father, Sheikh Zayed bin Sultan Al Nahyan. His Highness ...

DUBAI / WAM Etisalat Digital, in partnership with First Abu Dhabi Bank, FAB, and Avanza Innovations, have developed UAE Trade Connect, UTC — a new nationwide platform that will use the latest disruptive technologies to digitise trade in the UAE. The initial phase will focus on addressing the risks of double financing and invoice fraud before turning to other key ...

Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa) has welcomed Antonio Alvarez Barthe, Spanish Ambassador to the UAE, and Erik Rovina Mardones, Head of the Spanish Trade Office in Dubai. The meeting touched on ways to further develop cooperation between Dubai and Spanish companies, especially in the fields of electricity, water, ...

ABU DHABI / WAM The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Monday issued its regulatory framework for digital investment managers (also known as ‘robo-advisors’), operating in ADGM. Digital Investment Managers provide investment management services using algorithm-based tools and technology to interact with more tech-savvy clients. This technology allows investment managers to provide tailored investment ...

DUBAI / WAM The Dubai Gold & Commodities Exchange (DGCX) and the Multi Derivatives Exchange Nepal (MDX), a proposed derivatives exchange in Nepal, announced the signing of a memorandum of understanding (MoU), agreeing to collaborate and share knowledge on areas of mutual benefit surrounding commodity trading. DGCX and MDX will host workshops and meetings to further the scale of the ...

ABU DHABI / WAM A new national poll on nuclear energy has shown that UAE residents are in favour of, and have a strong understanding of the UAE Peaceful Nuclear Energy Programme. The poll revealed some of the highest favourability rates for nuclear energy in the world – higher than any other nuclear energy producing nations. The poll was commissioned ...

DUBAI / WAM Dubai Airports (DXB) and Etihad Energy Services Company (Etihad ESCO) have announced the successful installation of a solar energy system comprising 15,000 photovoltaic panels at Dubai International’s Terminal 2 – the largest at any airport in the region. With a capacity of 5MWp, the solar project will generate 7,483,500 kWh energy annually for Dubai Airports, resulting in ...

Bloomberg Abu Dhabi’s top sovereign wealth fund is hiring as it boosts active management of its estimated $697 billion portfolio. Abu Dhabi Investment Authority (Adia) plans to “add a number of new positions, mostly within investment and research-focussed roles” in its fixed income and treasury department this year, according to its annual report. The fund almost matched the performance of ...

DUBAI / Emirates Business The first half of 2019 saw the number of authorised tax agents increase by more than 110 percent to exceed 370 Agents, up from 176 by the end of 2018, asserted the Federal Tax Authority (FTA) as it hosted the second meeting of tax agents. The authority noted that the growth in the number of authorised ...