News

NEW YORK / WAM The United Arab Emirates and the United Nations Development Programme (UNDP) have announced a new Memorandum of Understanding that will allow UAE nationals to join the agency as full-time staff under a Junior Professional Officer (JPO) Programme. The agreement was signed by Reem Al Hashemy, Minister of State for International Cooperation, and Achim Steiner, Administrator of ...

DUBAI / WAM The Dubai Land Department (DLD) and the Telecommunications Regulatory Authority (TRA) signed a mem- orandum of understanding (MoU) during the Gitex Technology Week. The agreement aims to regulate real estate advertisements by setting an operational framework in the control departments, thus reducing misleading real estate advertisements. Hamad Obaid Al Mansoori, Director-General of the TRA, said, “The Authority ...

ABU DHABI / Emirates Business A predicted boom in flexible working could contribute $10.04 trillion to the global economy by 2030, according to the first comprehensive socio-economic study of changing workplace practices. The analysis, commissioned by Regus and conducted by independent economists, studied 16 key countries to delve into the state of flexible working both now and through 2030. Regus ...

DUBAI / Emirates Business Commercial Bank of Dubai (CBD) reported its financial results for the first nine months of 2018. The bank’s year to date net profit of AED843 million was 26.8% higher on the back of a 1.5% increase in operating income and a 5.3% decline in operating expenses; impairment allowances meanwhile decreased by 17.2%. Operating income for the ...

Abu Dhabi / WAM First Abu Dhabi Bank (FAB) was named “Safest Bank in Middle East” for second year at Global Finance magazine’s Best Banks Awards. Andre Sayegh, FAB Deputy Group CEO and Head of Corporate and Investment Banking, said, “We are very proud to be receiving the Safest Bank in the Middle East Award for the second year in ...

Bloomberg Oil hit the lowest in a month after the US government data showed expanding crude stockpiles. Futures fell as much as 3.2 percent in New York on Wednesday. Domestic crude inventories rose by more than twice the rate forecast by analysts last week, according to the Energy Information Administration. Stored supplies have been growing for four weeks, the longest ...

FUJAIRAH / WAM Emirates Post and Fujairah Free Zone (FFZ) have signed a cooperation agreement to integrate services and activities across common divisions in efforts to provide enhanced services to investors within the free zone. It aims to improve the quality of postal services provided to the authority’s customers and partners by harnessing e-connectivity across combined functions. The agreement was ...

ABU DHABI / WAM Etihad Airways has named Sydney and Melbourne as the next airports in the global rollout of new lounge brand ‘The House’, recently launched by the airline in partnership with No1 Lounges. Eligible customers of Etihad Airways, and those of its partner airline, Virgin Australia, travelling through Sydney will be able to experience The House from October ...

Abu Dhabi / WAM His Highness Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation and Chairman of Abu Dhabi Sports Council, inaugurated the first edition of the Abu Dhabi International Boat Show (ADIBS) 2018 which kicked off on Wednesday, in the presence of a number of Sheikhs, ...

DUBAI / WAM Dubai Internet City (DIC), on Wednesday signed a Memorandum of Understanding (MoU), with the Russian Export Centre (REC), to launch the first Russian Centre for Digital Innovations and Information and Communication Technologies outside Russia, in Dubai. The centre, which will encompass of a space of over 20,000 sq. ft. within Dubai Internet City, is the first of ...