News

Bloomberg Saudi Arabian Oil Co. has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the chief executive officer of the state-run producer. “We are increasing our readiness,” Amin Nasser said in an interview in Seoul on Tuesday. “We can supply through the Red Sea and we have ...

RAS AL KHAIMAH / WAM The National Bank of Ras Al Khaimah (Rakbank) has announced the repayment of the outstanding nominal amount of $681.67 million on its Rak Funding Cayman Ltd. 5-year $800 million bond matured on June 24. Rakbank had issued $500 million bond earlier this year in April 2019 through RAK Funding Cayman Ltd. Proceeds from the issue ...

ABU DHABI / WAM Abu Dhabi General Services Company (Musanada), in collaboration with the Integrated Transport Centre (ITC), completed all the works of the Al Maqtara-Hamim road traffic safety improvement project extending over 140 km at a total cost of approximately AED40 million. The project works included improving and increasing the traffic safety by carrying out necessary maintenance on the ...

Dubai / Emirates Business Noor Bank, one of the leading Shari’ah-compliant banks in the UAE, has enriched its customer loyalty programme with the launch of the Noor Bank Infinity Treats app as part of its wider loyalty platform. With this new feature, the bank aims to enhance user experience and deliver a more seamless and well-rounded rewards proposition. Noor Bank ...

Dubai / Emirates Business Cityland Mall, the world’s first ‘nature-inspired’ shopping destination has been awarded the ‘The Best Commercial Project’ of 2019 at The Arabian Business Real Estate Awards. The recognition marks the company’s efforts to introduce a distinguished and unique project in the UAE real estate and retail landscape. The award was received by Chief Executive Officer and Board ...

ABU DHABI / WAM A three-day workshop jointly organised by the UAE Ministry of Defence (MOD), and the International Committee of the Red Cross (ICRC), began on Tuesday at the Armed Forces Officers Club in Abu Dhabi. The workshop entailed discussions on the Law of Armed Conflict during military operations. The MOD and the ICRC aim to promote cooperation in ...

SHARJAH / WAM Sharjah-based Air Arabia on Tuesday announced the launch of direct flights between Sharjah and Vienna, capital of Austria, starting September 15. The non-stop six-hour flight to Vienna, popularly known as the ‘City of Music’, will operate seven times a week, from Sunday to Saturday. Flights on Sundays, Tuesdays, and Fridays depart Sharjah International Airport at 17:35 local ...

LONDON / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Abu Dhabi National Oil Company (Adnoc) Group CEO, participated, on Tuesday, in the inaugural ‘Bloomberg Emerging and Frontier Forum’, which brought together global financial policymakers in a dialogue on the key economic issues related to growth in emerging and frontier markets. Speaking during the day-long forum ...

Dubai / WAM The Netherlands has kicked off construction of the Expo 2020 Dutch Pavilion in Dubai on Tuesday during a groundbreaking ceremony, the Dutch Consulate in Dubai announced. As a symbol of innovation and connection, a senior Dutch diplomat made a presentation on water harvesting, detailing the Dutch Expo theme ‘Uniting Water Food and Energy’, reflecting the country’s knowledge ...

Abu Dhabi / WAM Etihad Airways is preparing to launch seasonal summer flights from Abu Dhabi to the Egyptian city of Alexandria, one of oldest continuously-inhabited locations in the world and home to the Great Library of Alexandria and one of the ancient world wonders, the Pharos Lighthouse. Between July 2 and August 31, the Airbus A320 flights will depart ...