News

Bloomberg Britain’s Brexit limbo is helping to give Luxembourg’s booming funds industry a boost at the expense of jobs in the City of London. UK funds are racing to set up management units in the EU to avoid being locked out of the soon-to-be 27 nation bloc come March 29. And many are choosing tiny Luxembourg, which has already carved ...

Bloomberg / Agencies Saudi Arabia plans to tender or award six water-related projects in 2019 as it pushes ahead with a privatisation programme. The cabinet has approved the tendering of seven desalination and wastewater projects. One was awarded this week, three are in various stages of tender process and three more will be offered to investors next year, the government’s ...

RIYADH / WAM The official spokesman for the coalition to restore legitimacy in Yemen, Col. Turki Al-Malki has renewed coalition states’ support for the UN resolution regard-ing the Sweden Agreement on Yemen. The Saudi Press Agency quoted Al Malki as saying at a press conference on Tuesday that the UNSC resolution ensures the territorial integrity of Yemen in line with ...

Dubai / WAM Participants in the UAE-Kazakh Business Forum highlighted the importance of reinforcing trade and investment ties between the two countries. The forum, held at the Dubai Chamber of Commerce and Industry, saw discussions and presentations by the Ministry of Economy, the Ras Al Khaimah Chamber of Commerce and Industry, and the Ministry of Investment and Development of Kazakhstan. ...

SHARJAH / WAM HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council (SEC), on Tuesday chaired a meeting of the Council, at the Ruler’s Office in Sharjah, in the presence of HH Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman ...

DUBAI / WAM The Ministry of Community Development (MOCD), and the Abu Dhabi Islamic Bank (ADIB), signed a Memorandum of Understanding to enhance the participation of ADIB in the ministry’s community projects and initiatives. As such, the ADIB will provide financial assistance of AED1,200,000 to establish social day clubs in the centres of community development in Dubai, Fujairah, Sharjah and ...

Dubai / WAM The Dubai Municipality has organised the “Safety Tent” activity as part of the “Zero Accident Construction” challenge initiative, which aims to provide a safe and stimulating environment for workers by raising their awareness and enhancing a safety culture in construction sites. Director of Building Control Department Abdullah Al Shezawi pointed out that the most important feature of ...

ABU DHABI / WAM Abu Dhabi Waste Management Centre (Tadweer), announced that its Gulf Rubber Factory recycled 6,954.33 tonnes of used tires in the first eight months of 2018, averaging 28 tonnes per day. Set up in 2011 as a public-private joint venture, the facility utilises cutting-edge tire recycling technologies from leading European companies to produce different sizes of rubber ...

ABU DHABI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, has said that environment-smart agriculture (ESA), is a new concept being adopted around the world, where smart technologies and environmentally friendly agricultural practices are being applied. In a statement to the Emirates News Agency (WAM), he said, “We, in the UAE, have adopted environment-smart ...

Dubai / WAM The Emirates Central Cooling Systems Corporation, Empower, announced that it has prepaid three loan instalments of $157.5 million (AED580 million) prior to their maturity. With these prepayments and payment of DIB facility of $128 million, Empower has fully settled its term loan facilities for a total amount of $728 million and the company will have zero debt ...