News

ABU DHABI / WAM The UAE Central Bank has announced that money supply aggregate M1 increased by 0.1 percent, from AED485.6 billion at end of December 2018 to AED486 billion at end of January 2019. The money supply aggregate M2 decreased by 0.2 percent, from AED1308.4 billion to AED1305.5 billion.

ABU DHABI / Emirates Business LuLu, the largest hypermarket chain in the Middle East, launched the annual Egyptian-themed food festival “Taste of Egypt” across its stores in the UAE. The week-long fest features various offers on different product categories until February 25. In partnership with EgyptAir, LuLu will be giving away 10 tickets to Cairo in a raffle promo, where ...

DUBAI / WAM Nasdaq Dubai and Menacorp will collaborate to raise investor awareness across the Middle East and North Africa (Mena), of the expanding capital markets opportunities in the UAE and the region. The campaign will include joint roadshows conducted by Nasdaq Dubai and Menacorp in GCC and other Mena countries as well as digital outreach to a wide range ...

DUBAI / WAM Emirates Post has issued a reminder to its customers to renew their P.O. Box subscriptions before February 28, to avoid late renewal fees and penalties. Customers can simply renew subscriptions via several convenient ways including the Emirates Post website, Emirates Post mobile services app or at Emirates Post Customer Happiness Centres. Last December, the postal and express ...

ABU DHABI / WAM The Emirates Defense Companies Council (EDCC), an initiative of Tawazun Economic Council (Tawazun), signs three new agreements with global councils and organisations during Idex 2019. The agreements aim to develop the defence and security sectors in various countries involved and states that each of these parties will support one another and commit to knowledge transfer; offering ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, met a number of delegations and defence ministers who are visiting the country to participate in Idex 2019 being organised at Adnec. His Highness Sheikh Mohamed bin Zayed met, separately, with Ibrahim Kasuri Fofana, ...

ABU DHABI / WAM The Defense and Security Development Fund of Tawazun Economic Council signed a funding agreement reaching the potential total of AED 193 million with Halcon Systems LLC, a company owned by the Abu Dhabi-based Yas Holding Group. The agreement was signed during Idex 2019 by Abdulla Al Huwar, Strategic Technology Investments Director at Defense and Security Development ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, allocated a grant of AED44 million ($12 million) to Jerusalem Council for Development and Economic Growth in support of civil and community programmes and activities in East Jerusalem. His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, and His Excellency ...

Dubai / WAM The Dubai Land Department (DLD), announced launch of the Smart Audit initiative that allows completion of real estate transactions on the same day. This comes as part of its tireless efforts to develop and formulate modern 10X initiatives that guarantee the smooth provision of services to its customers, ensuring their comfort. During the first week of the ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday that Fitch Ratings, Fitch, has assigned Adnoc Group a standalone credit rating of AA+. The rating, according to Fitch, highlights the company’s high upstream output and significant reserves, strong profitability, commercially-focused business model, downstream integration and conservative financial profile. The rating, Fitch said, sits at the ...