News

ABU DHABI / WAM The UAE consolidated government revenues increased to AED455.5 billion by the end of 2018, with expenses picking up to AED388.147 billion by the end of the year, creating a surplus of around AED67.5 billion, according to the Ministry of Finance statistics. The consolidated government revenues increased to as much as AED304.5 billion during the first nine ...

Abu Dhabi / WAM Dubai Electricity and Water Authority (Dewa) and the consortium led by Saudi Arabia’s Acwa Power and Silk Road Fund, which is owned by the Chinese Government, annou-nced financial closing of the 950-megawatt fourth phase of Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world. The solar park will produce 5,000 ...

Abu Dhabi / WAM The UAE and Hungary agreed to strengthen their cooperation in the fields of science, technology and innovation. This came as senior representatives of both countries discussed creating new partners- hips in various sectors that will serve their development in areas of trade, industry, investment, renewable energy, insurance, tour-ism, science, technology, telecom- munications, aviation, education, culture and ...

DUBAI / WAM In its eighth year, the Emirates Green Building Council (EmiratesGBC), Congress will host experts and stakeholders from the building and construction industry to discuss the role of a circular economy in promoting sustainable development. Building on last year’s landmark Congress on Net Zero Buildings and Cities, the discussion will focus on how a shift to a circular ...

DUBAI / WAM One Million Arab Coders has launched a new set of coding and programming training courses to diversify and enhance the knowledge and skills of Arab coders, as well as provide them with new employment opportunities for jobs of the future. These courses will train more specialised and professional programmers, graduate a generation of digital experts, and provide ...

DUBAI / WAM Union Coop, the largest Consumer Cooperative in the UAE, revealed that it expects AED30 million sales in 2019, with more than 60,000 Stock Keeping Units, SKUs, from its web store and online partners. The retail pioneer also listed previous year online sales as AED15.8 million from the web store and online partners, while expecting to outdo themselves ...

RIYADH / WAM A workshop for the coordinators of the Saudi-Emirati Coordination Council took place in Riyadh, with the attendance of over 70 representatives of government authorities from the UAE and Saudi Arabia. The workshop aims to monitor the progress of the council’s projects and initiatives and prepare for the next meeting of the council’s executive committee, which will again ...

Abu Dhabi / WAM The UAE Banks Federation (UBF), represented by its Compliance Committee, hosted a seminar in association with CCL Academy, on the Financial Action Task Force (FATF). The session was titled, ‘Implications of the upcoming FATF, Mutual Evaluation and Recent Industry Developments’. The FATF is an inter-governmental body established by the G7 Summit. Its objectives are to contribute ...

Abu Dhabi / WAM A new platform to support high tech startups has launched in Abu Dhabi. The AED520 million ($141.5 million) ‘Hub71’ launched on Sunday by His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, and Chairman of the Executive Committee. His Highness also announced a new AED535 million fund, to ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA), hosted senior executives from Standard Chartered Bank to discuss how financial institutions and regulators can work together to help curb illegal wildlife trade and disrupt the flow of illegal funds arising from this predicate crime. David Fein, Group General Counsel at Standard Chartered and Vice-Chair of the Financial Taskforce of the ...