News

Bloomberg Investors in Gulf assets breathed a sigh of relief after US President Donald Trump showed restraint against Iran. Calling off airstrikes and opting for additional sanctions on Iran eases the risk of military combat between the Persian nation and its Arab neighbours, and will probably have a positive impact on GCC spreads, according to Arqaam Capital Ltd. “While GCC ...

Dubai / WAM The Dubai Multi Commodities Centre (DMCC) has welcomed 1,868 new companies to its free zone in 2018, marking a 12 percent growth compared to 2017. The construction of Uptown Dubai, DMCCs new district, is also well underway to accommodate the demand for additional space, DMCC announced. “We have established our position as the preferred free zone for ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa), received a Swedish delegation, where they held meetings to expand cooperation and knowledge exchange in the sustainability, water and energy sectors. Saeed Mohammed Al Tayer, Dewa Managing Director and CEO, welcomed the high-level delegation from the Swedish Council for Trade and Investment, headed by Henrik Landerholm, Ambassador of Sweden to ...

ABU DHABI / WAM Al Ain City Municipality (ACM), and Abu Dhabi General Services Company (Musanada), have announced the opening of Al Aflaj (No. 115), Al Qasr (No. 118) and Al Ahlia (No. 166) intersections as well as Intersection No. 177 known as Rotana Intersection, in a move aimed at enhancing traffic flow and improving safety for users of the ...

ABU DHABI / WAM Expats’ remittances from the UAE amounted to AED38.41 bn during Q1-2019, according to figures released by the Central Bank of the United Arab Emirates. A total of AED25 bn thereof was transferred through money exchange companies and the rest from the banks operating in the country. India took home the crown as the top-receiving country for ...

Abu Dhabi / WAM The Zayed Sustainability Prize has announced a record 2,373 completed submissions for the 2020 awards. Following its 11th annual awards ceremony held in January, Prize entered a four-month submissions phase, which closed on May 30 with a record 13 percent increase in submissions over the previous year. Of the entries received, the breakdown across the Prize’s ...

YAOUNDE / WAM Fahad Obaid Mohammad Al Taffaq, UAE Ambassador to Nigeria and Non-Resident Ambassador to the Republic of Cameroon, held meetings with a number of officials and businessmen in Cameroon, and discussed ways to strengthen cooperation with the Central African country in all fields. Al Taffaq visited the capital city Yaounde, and toured a number of institutions and bodies ...

ABU DHABI / WAM The UAE has become the first country in the Gulf to launch a new reporting platform developed by the United Nations Office on Drugs and Crime (UNODC), to curb organised crimes. The UAE’s Financial Intelligence Unit (FYU), launched the new anti-money laundering platform ‘goAML’ , which has been open for registration since May, officials of the ...

Dubai / Emirates Business Dubai Science Park (DSP), a science- and healthcare-focused business community, hosted the seventh edition of its Advance Health networking event. Under the theme ‘How 3D Printing Is Transforming Health’, the forum brought together industry experts to explore the potential that 3D printing can create in the healthcare space. Organised in partnership with Synapse Medical Services, a ...

Abu Dhabi / WAM The Telecommunications Regulations Authority (TRA) reported a 43.2% decline in cyberattacks on government, semi-government and private sector entities in UAE during first five months of 2019, as compared to same period last year. A total of 113 cyberattacks were foiled from January to May 2019 against 199 during the corresponding period in 2018. Seven of these ...