News

DUBAI / WAM Etihad Credit Insurance (ECI), signed a reinsurance agreement with the Arab Investment and Export Credit Guarantee Corporation, Dhaman, to support the growth and expansion of the UAE businesses. This agreement will further enhance the inter-Arab trade and UAE exports globally, in line with the country’s non-oil diversification strategy and vision 2021. The two sides will collaborate to ...

DUBAI / Emirates Business Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, held an interactive workshop on ‘Financial Challenges in Banks’. The session drew the participation of over 270 senior representatives from over 20 banks and financial institutions. Conducted by Hussam A. Al-Abed, renowned financial, banking and cybercrime prevention trainer ...

Abu Dhabi / WAM The United Arab Emirates has condemned in the strongest terms the attempt of the Houthi militias to target Makkah with a ballistic missile. A Ministry of Foreign Affairs and International Cooperation (MoFAIC), statement said that the attempt to target the Holy City of Makkah during Ramadan represented a serious escalation and showed the unprecedented moral bankruptcy of ...

Dubai / WAM Brazil Minister of Foreign Affairs, Ernesto Henrique Fraga Araujo met DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem in the Brazilian capital, Brasilia. They discussed social reform, a stable and efficient regulatory framework to attract investors alongside public private partnerships to encourage foreign direct investment (FDI). The meeting preceded Bin Sulayem’s discussions with President Jair Bolsonaro ...

Dubai / WAM The UAE official government portal ‘UAE Government’ views have surpassed 20 million, while portal users reached about 7.5 million (2.5 million are from outside the UAE) and users’ sessions reached 12 million in two years since the portal was revamped and enriched with content in April 2017, reported the Telecommunications Regulatory Authority (TRA). Hamad Obaid Al Mansoori, Director-General ...

Abu Dhabi / WAM Saif Mohammed Al Suwaidi, Director-General of General Civil Aviation Authority (GCAA), has officially inaugurated the “Abu Dhabi Air Accident Investigation Laboratory”, established by the Air Accident Investigation Sector (AAIS), at the authority’s headquarters. “The lab offers great potential for the Air Accident Investigation Sector to operate effectively and smoothly, based on data recorded by flight recorders. ...

Bloomberg Brookfield Asset Management Inc and Fortress Investment Group are among the bidders for a portfolio of 15 hotels owned by Anbang Insurance Group Co, according to people familiar with the sales process. Blackstone Group LP, South Korea’s Mirae Asset Management, and GIC Pte, Singapore’s sovereign wealth fund, are also among the bidders for the hotels, the Financial Times reported, ...

Bloomberg Masayoshi Son can’t stop talking about how artificial intelligence (AI) is going to change the world. Now SoftBank Group Corp will finally have a board member who is an expert on the subject. SoftBank named a new director: Yutaka Matsuo, a professor at the University of Tokyo who focuses on social network mining, natural language processing and AI. SoftBank ...

Bloomberg The US crackdown on Huawei Technologies Co could make Apple Inc’s already troubled business in China even more difficult, hobbling iPhone sales in the world’s biggest smartphone market and disrupting the company’s supply chain, according to analysts. US President Donald Trump effectively banned US companies from working with Huawei. That’s sparked concern on Wall Street about potential retaliation by ...

Bloomberg Escalating tensions between Washington and Beijing are wiping billions from the net worth of China’s richest surveillance tycoons. The billionaires behind Hangzhou Hikvision Digital Technology Co and Zhejiang Dahua Technology Co have watched their combined fortunes sink by more than $8 billion since March 2018 as shares of both companies sank on speculation of potential US sanctions. The losses ...