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ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), on Wednesday reported its financial results for the first quarter ended March 31. Adnic achieved significant gross written premium growth by 42.8 percent to AED1.74 billion, compared to AED1.22 billion for the same period in 2018. Adnic’s net profit reached AED52.6 million. Commenting on Adnic’s performance, Sheikh Mohamed bin Saif ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has called on government and private sector employees through his social media platforms to participate in a new innovative humanitarian competition. Launching the “Well of Hope” competition, Sheikh Mohammed bin Rashid Al Maktoum tweeted, “A new institutional humanitarian ...

Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced 19 sustainability requirements that hotel establishments across the emirate will be mandated to comply with under new direction in line with the Dubai Sustainable Tourism (DST) initiative. The requirements have been laid out to support the emirate’s hotel establishments in their compliance with the Dubai ...

Abu Dhabi / WAM Working hours for the private sector will be reduced by two hours during the Holy Month of Ramadan, according to the Ministry of Human Resources and Emiratisation. Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, issued the decision as per Article 65 of Federal Law No. 08 of 1980. The minister extended his ...

Abu Dhabi / WAM “Tolerance is like oxygen and the people of the UAE are the trees helping equally to produce the oxygen of tolerance,” Sheikh Nahyan bin Mubarak Al Nahyan, the UAE’s Minister of Tolerance said on Wednesday. “The greater the participation of the country’s people in promoting tolerance, the more harmonious, peaceful and prosperous the country will be.” ...

Abu Dhabi / Emirates Business Adnoc Distribution, the UAE’s largest fuel and convenience retailer and a company listed on Abu Dhabi Securities Exchange (ADX), on Wednesday reported that its first quarter 2019 net profit increased by 6.6% to AED 578 million ($157 million) when compared with the same period last year. Excluding inventory gains recorded in Q1 2018, the 2019 first ...

DUBAI / WAM The Supreme Council of Energy held its 55th meeting, chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group. The meeting agenda covered several topics, notably the progress related to the ‘Demand Side Management Strategy 2030’ to reduce energy and water ...

Bloomberg The latest round of US-China talks wrapped up in Beijing, with US Treasury Secretary Steven Mnuchin calling the meetings “productive” in a tweet. Negotiations will continue in Washington next week, Mnuchin said in his tweet after Wednesday’s round concluded slightly later than scheduled. He took part in a photo session with US Trade Representative Robert Lighthizer and China’s Vice ...

Bloomberg Indian businessman Anil Ambani’s Reliance Communications will fall back into bankruptcy as an appeals court allowed the beleaguered company’s request to enter the process in an attempt to sell assets. The National Company Law Appellate Tribunal allowed RCom to withdraw its appeal against insolvency proceedings initiated last year and lifted interim orders that temporarily halted the bankruptcy case. The ...

Bloomberg LG Chem, the South Korean electric-car battery giant, sued local rival SK Innovation Co in the US for allegedly stealing trade secrets by poaching scores of highly knowledgeable employees. The lawsuits, filed with the US International Trade Commission and the District Court of Delaware, alleges SK hired 77 employees from LG, some of whom stole trade secrets that helped ...