News

SHARJAH / WAM Sharjah Airport Authority announced the implementation of new baggage rules at Sharjah Airport. The new rules, which will include luggage specifications, will boost operational performance, reduce improper baggage handling and enhance the airport’s competitiveness in the region. The Sharjah Airport notified the representatives of all airlines operating at the Airport about the new policy, and informed them ...

VIENNA / WAM Abu Dhabi has officially been selected to host the 2019 United Nations Industrial Development Organisation (UNIDO), General Conference, the organisation’s supreme policy-making organ which convenes every two years. The announcement was made following a vote by the 53 member states of the Industrial Development Board (IDB) at their 46th annual meeting in Vienna where they convened to ...

New Delhi / WAM A two-day conference to address the root causes of radicalisation and terrorism has provided a shot in the arm to cooperation between the UAE and India against these twin dangers to civilised society and in providing security. The conference was organised during the weekend by the Policy Perspectives Foundation of New Delhi. The conference expressed appreciation ...

Sharjah / WAM The Emirate of Sharjah has announced a budget with total expenses of AED25.7 billion for 2019, marking a 10 percent growth in comparison to its 2018 budget. His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, approved the spending for 2019, which will see an increase in spending on public ...

Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX), together with General Holding Corporation (Senaat), on Sunday rang the market opening bell to celebrate the listing of the first tranche of Senaat sukuk. Valued at $300 million (AED1.1 billion), it is the first of its kind dual listing between the Abu Dhabi Securities Exchange and London Stock Exchange. The sukuk ...

Dubai / WAM National Bank of Fujairah (NBF), announced on Sunday that NBF Islamic has retained the ‘Best Islamic Window – UAE’ accolade for the third consecutive year at the Islamic Business and Finance Awards 2018. Hosted by CPI Financial, the Islamic Business and Finance Awards recognises the efforts of business leaders as they seek to promote their organisation’s Shari’a ...

Dubai / WAM Dubai remains on track to becoming the most visited city for global travel, business and events, according to the latest visitation figures released by Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism). The emirate welcomed 11.58 million visitors in the first three quarters of 2018, with India retaining its position as Dubai’s leading source market, followed ...

Bloomberg Bloated by debt, bled by corruption and battered by structurally declining sales, South African power utility Eskom Holdings SOC Ltd is facing what’s known in the industry as a “death spiral.” And the Johannesburg-based company poses the biggest credit risk to Africa’s most industrialised nation, according to S&P Global Ratings. More than a decade of unreliable supply and surging ...

Bloomberg China’s dramatic increase in liquefied natural gas (LNG) imports ov-er past two years may have hogged the headlines, but India may well emulate its neighbour in switching to the cleanest, fastest-growing fossil fuel. As China’s shift to natural gas from dirtier burning fuels such as coal and fuel oil helps improve air quality, Indian cities are rising in pollution ...

Bloomberg The pipeline shortage that has been strangling the Canadian oil industry is weighing on spending plans for next year, with one major producer slashing its capital budget for 2019 by C$1 billion ($750 million). Canadian Natural Resources Ltd, citing a lack of shipping options, said that it’s targeting a base capital plan of C$3.7 billion for next year, about ...