News

DUBAI / WAM The United Arab Emirates has achieved a new accomplishment in ICT global competitiveness by achieving advanced ranks in the Global Competitiveness Index, according to the results published recently by the International Telecommunication Union (ITU). The results showed that the UAE is ranked first globally in the rate of mobile-broadband subscriptions, in addition to ranking first in the ...

Bloomberg China announced it will take retaliatory tariff action against $60 billion of US goods, sharply escalating their trade conflict as the Trump administration considers imposing duties on almost all Chinese imports. China’s retaliatory tariffs, on items ranging from meat to wheat and textiles, will take effect on September 24, China’s Ministry of Finance said in a statement posted on ...

Bloomberg The European Union (EU) outlined ways to bolster the World Trade Organization (WTO) in a bid to keep US President Donald Trump committed to the global commercial order that America helped shape after World War II. EU Trade Commissioner Cecilia Malmstrom presented a ‘concept paper’ aimed at strengthening WTO rules against trade-distorting subsidies, averting a deadlock in the dispute-settlement ...

DUBAI / WAM The Malaysian Franchise Association has chosen Dubai and the 3rd edition of “The Global Franchise Market Exhibition” (TGFM) to explore the emerging and lucrative markets in the Middle East and North Africa region, connect with local, regional and international franchisors and brand owners and expand their businesses within the region. TGFM, the official franchising event in Dubai, ...

Abu Dhabi / WAM A new minister of the UAE government and two judges took the oath on Tuesday before His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. ...

Abu Dhabi / WAM The value of spending of federal authorities increased to around AED10.44 billion during the first quarter of 2018, an increase of 17 percent compared to AED8.92 billion during the same period in 2017, highlighting the country’s continuing overall development. According to a financial performance report on the country’s budget issued by the Ministry of Finance, the ...

Dubai / WAM Dubai’s non-oil foreign trade recorded AED645 billion in the first half of 2018, an increase of AED5 billion from 2017 figures. Dubai’s re-exports registered a AED24 billion increase and grew 14 percent to AED203 billion, which reflects the robust and healthy position Dubai leads as a distinctive regional and international re-export hub, while imports touched AED377 billion ...

Dubai / WAM The Khalifa bin Zayed Al Nahyan Foundation has launched, in cooperation with the Abu Dhabi Co-operative Society, Abu Dhabi COOP, the first food outlet market that sells food supplies to UAE nationals and residents, with the exception of rice and flour, which are only available to UAE nationals, at cheap prices. The launch of the market, which ...

ABU DHABI / WAM­­­­­ Maqta Gateway, an Abu Dhabi Ports subsidiary, and Abu Dhabi Global Market (ADGM), signed a Memorandum of Understanding (MoU) to collaborate on innovation projects, technologies and knowledge transfer. The signing took place on the side-lines of the FinTech Abu Dhabi 2018. The agreement aims to spur economic growth, creative thinking and entrepreneurism through setting up a ...

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