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DUBAI / Emirates Business Islamic Banks in the Gulf Cooperation Council (GCC) are expected to show resilience over the next two years after weathering tough market conditions in 2018, said S&P Global Ratings in a report published on Monday. “In 2018, GCC Islamic banks expanded slower than conventional peers for the first time in five years,” said S&P Global Ratings ...

Bloomberg Oil tumbled towards $60 a barrel as President Donald Trump threw trade talks between the world’s two largest economies into disarray with a threat to raise tariffs on Chinese imports, roiling global markets. US crude pared losses after plunging as much as 3.1 percent in New York to the lowest level in five weeks. China was said to be ...

Dubai / Emirates Business Global trade enabler DP World UAE Region has been recognised for developing the GCC’s most robust and efficient supply chain at this year’s Logistics Middle East Awards 2019, where it won the Supply Chain Hub of the Year award. Abdulla bin Damithan, Chief Commercial Officer of DP World UAE Region, accepted the award on behalf of ...

Abu Dhabi / Emirates Business Etisalat on Monday announced the launch of ‘Smiles UAE’, making the popular app – with its wide range of daily deals and lifestyle rewards – accessible to all UAE residents and visitors. The app was previously available only for selected Etisalat customers. Smiles users will enjoy ‘Buy 1 Get 1 Free’ deals on entertainment, shopping, ...

Dubai / WAM Dubai’s Department of Finance (DoF), in collaboration with Smart Dubai and emaratech, has launched “noqodi”, a digital wallet to facilitate payments of fees for government services. The new payment channel allows individual and corporate customers to pay quickly, easily and securely for different government and non-government fees under Dubai Pay, the digital platform for payments. “We commend Smart ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa), has received a high-level delegation from Electricite de France (EDF), headed by Jean-Bernard Levy, Chairman and CEO of EDF Group, to discuss ways to further develop cooperation between the two sides. During the visit, which is part of a series of visits by ...

ABU DHABI / WAM The Khalifa bin Zayed Al Nahyan Foundation began its Ramadan Iftar project, which aims to provide 31,700 meals daily, totalling 951,000 meals throughout the Holy Month. The project, which was launched in cooperation with 317 Emirati families, has 102 distribution points across the country. An official from the foundation said that 137 coordinators and supervisors will ...

Abu Dhabi / Emirates Business Abu Dhabi Ports signed a Memorandum of Understanding (MoU) with Dell Technologies that will see the organisations combine their expertise in maritime and IT to develop technology-based concepts, solutions and services specifically for the maritime industry. The MoU with Dell Technologies is designed to provide Abu Dhabi Ports with consulting services and help them leverage ...

Dubai / Emirates Business Dubai Science Park (DSP), a holistic science-focused community that provides support and a business-friendly ecosystem for entrepreneurs, SMEs and international companies active in sciences, energy and environment sectors, signed a partnership agreement with 1792 Partners, a global advisory and venture firm focused on bridging the gap between health technology innovators in UAE and US. The memorandum ...

Washington / Emirates Business Al Yah Satellite Communications Company (Yahsat), a leading global satellite operator based in the United Arab Emirates and wholly owned by Mubadala Investment Company (Mubadala), and Hughes Network Systems, LLC (HUGHES), a subsidiary of EchoStar Corporation, on Monday announced an agreement to enter into a joint venture to provide commercial Ka-band satellite broadband services in Brazil. ...