News

Bloomberg Etihad Airways PJSC is seeking a loan of about $600 million to help make initial payments for planes, according to people familiar with the matter. Abu Dhabi’s state-owned carrier is arranging the loan on its own and has reached out to banks that may be willing to provide the unsecured facility with maturity of one or two years, said ...

Bloomberg Dubai Islamic Bank PJSC, the United Arab Emirates’ biggest Islamic lender, is considering buying Noor Bank PJSC, people with knowledge of the talks said. The bank has held preliminary discussions with Dubai-based Noor Bank’s shareho- lders, said the people, asking not to be identified because the information is private. Discussions are at an early stage and may not lead ...

ABU DHABI / WAM Since 1971 until December 2018, the Abu Dhabi Fund for Development (ADFD), has financed 78 healthcare projects in 16 countries with a total value of AED4.1 billion. The Fund’s interest in healthcare projects reflects its keenness to support international efforts aimed at achieving the UN’s Sustainable Development Goals, directly contributing to Goal Three – Good Health ...

DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX), received a new Shari’ah certification for its Shari’ah Compliant Spot Gold contract (DGSG). The Shari’ah Pronouncement (Fatwa), was issued by Minhaj Advisory, a leading Dubai-based Islamic advisory firm, and determined that DGSG meets all the necessary Shari’ah requirements in line with Islamic rules and principles. The DGCX, with the support ...

ABU DHABI / WAM Abu Dhabi General Services Company, Musanada, has started construction work of Sheikh Zayed bin Sultan Road (Eastern Mangroves Road) traffic improvements project for an estimated cost of AED97 million. In this regard, all basic works and preparations for this purpose have been completed, indicating that the company is currently engaged in transferring intervening utility lines and ...

DUBAI / WAM Dubai is all geared up for the opening of two landmark events that will convene top government leaders, investors, and industry experts from across the globe for three days to separately discuss the important role of startups and cities of the future in a nation’s sustainable socio-economic development and growth. AIM Startup and Future Cities Show, both ...

ABU DHABI / WAM Abu Dhabi will promote its cruise sector attractions at the Seatrade Cruise Global, leading annual cruise industry event, which will take place from April 8-11 in Miami, Florida, USA. The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, is leading a delegation to the event, comprising partners such as Abu Dhabi Ports, Etihad ...

DUBAI / WAM Dubai Municipality has recently opened the Quranic Park for public free of charge. The park was developed in Khawaneej on an area of 64 hectares at a total cost of AED200 million. During the first week of opening the park received 100,000 visitors. Dawoud Al Hajri, Director General of Dubai Municipality, said, “The opening of the park ...

Dubai / WAM The UAE attracted $10.35 billion in foreign direct investments in 2017, accounting for 36 percent of the total FDI inflows to the Arab countries. These figures were released by the UAE Ministry of Economy in conjunction with Annual Investment Meeting (AIM), the world’s biggest platform for FDI, which will kick off on Monday in Dubai, where more ...

DUBAI / WAM National Bank of Fujairah (NBF), inaugurated its first international representative office in Antwerp Diamond District, Belgium, the largest rough trading hub in the world. This falls in line with the bank’s strategy to further cement its position as the leading financial partner for clients in the industry through its unparalleled sector expertise and bespoke solutions. The new ...