News

Abu Dhabi / Emirates Business­­­­­ First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has launched a new sound-based payment system through its digital wallet payit. The sound-based payment technology is the first of its kind in the region and one of the first integrated sound-based solutions in the world. ...

Dubai / Emirates Business­­­­­ New figures have been released showing that DIFC registered Wills cover real estate worth more than AED 10 billion ($2.7 billion). The DIFC Wills Service Centre statistics come as Cityscape gets underway, with its focus on encouraging visitors to invest in real estate in Dubai and other emirates. Sean Hird, Director of the Wills Service Centre ...

Abu Dhabi / WAM Under the patronage of the Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the first ‘Youth 101’ initiative began on Tuesday in Abu Dhabi, with the attendance of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, under the title, ...

Abu Dhabi / Emirates Business The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has been named as the best government entity in the emirate for the provision of ‘Smart Services’ by Abu Dhabi’s Smart Solutions and Services Authority (ADSSSA). The Institutional Maturity Index, which is rated by ADSSSA, assessed 24 of DCT Abu Dhabi’s ‘Smart Services’, ...

BREMEN / WAM UAE Space Agency (UAESA), Nasa signed an Implementing Arrangement (IA) that outlines cooperation across a range of areas related to space exploration and human spaceflight. The document was signed by Dr. Ahmad bin Abdullah Humaid Belhoul Al Falasi, Cabinet Member and Minister of State for Higher Education and Advanced Skills, and Chairman of the UAE Space Agency, ...

Sharjah / WAM Sharjah Economic Development Department (SEDD) has organised a workshop titled “Investment in Human Capital”, to highlight the importance of developing human resources in various sectors and the importance of including it in Sharjah’s authorities adjectives, in line with the directives of HH Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. Commenting ...

Dubai / WAM The Dubai Municipality’s “Zero Accident Construction” challenge initiative, announced in August, has received tremendous response from the contracting companies operating in the emirate of Dubai since the opening of registrations, with many companies submitting applications in September. The challenge, which will continue for six months from October 1 to March 31, 2019, is expected to enhance the ...

Bloomberg Russia’s oil production rose to a post-Soviet high last month as the country completely rolled back the output cuts it had agreed on with Opec, then pumped some more. The country produced a record 11.356 million barrels of oil and condensate a day in September, according to data released on Tuesday by the Energy Ministry’s CDU-TEK statistical unit. That’s ...

Bloomberg Iraq exported more than 4 million barrels a day for a second consecutive month in September as buyers sought alternative supplies to Iran ahead of US sanctions. Shipments from Opec’s No. 2 producer were 4.062 million barrels a day, the highest since November 2016 and compared with 4.061 million a day in August, according to Bloomberg calculations from tanker ...

Bloomberg In the race to solve a fuel-import crisis in Nigeria, Africa’s richest person faces competition from a swarm of tiny challengers. Billionaire Aliko Dangote is building a 650,000 barrel-a-day refinery in Nigeria that will help cut the nation’s $7 billion annual fuel-import bill. Such is the pressure on its finances, the government is pursuing another option, giving licenses to ...