News

Bloomberg China Petroleum & Chemical Corp. said its half-year earnings jumped to the highest level on record as refining profits climbed and a rebound in crude prices brought its oil and gas exploration unit closer to breaking even. Net income gained to 42.4 billion yuan ($6.2 billion) in the first six months from 27.9 billion a year earlier, the world’s ...

DUBAI / Emirates Business Rapid digitalisation and disruption are changing the dynamics of the global Islamic economy and creating new challenges and opportunities for the sector, according to industry experts who will share their insights at the Global Islamic Economy Summit (GIES) 2018 in Dubai. The fourth edition of GIES will be held October 30-31 in Dubai under the patronage ...

DUBAI / Emirates Business Amanat Holdings, the GCC’s largest healthcare and education investment company, announced it has acquired a majority stake of 69.3% in the Royal Hospital for Women in Bahrain for AED141.7 million. The acquisition is in line with Amanat’s investment criteria to acquire high quality assets where it can generate long-term sustainable value. It takes Amanat’s total investments ...

DUBAI / WAM Senior officials from Emirates Islamic visited the Expo 2020 Dubai site in the Dubai South District, where they met members of the Expo 2020 Dubai team and were updated on the preparations for the milestone event. As Islamic Banking Partner of Expo 2020 Dubai, Emirates Islamic is aligned with Expo 2020 theme of “Connecting Minds, Creating the ...

DUBAI / Emirates Business Tasjeel signed a memorandum of understanding with Gargash Enterprises’ SIXT international car rental company. The one-year agreement enables Tasjeel to be the sole service provider for vehicle testing services for SIXT car rental fleet, and will provide various technical testing services, registration and transfers, ensuring the highest safety standards on roads for its customers. His Excellency ...

DUBAI / Emirates Business Dubai will become a multi-billion dollar magnet for stone trade suppliers from around the globe next month as massive urban growth and infrastructure development continues to make the Middle East one of the world’s highest spending construction markets. According to market analysts BNC, a raft of new mega projects valued at $29.19 billion were launched in ...

SHARJAH / WAM Expo Centre Sharjah will host a variety of major international events, which includes economic and cultural exhibitions and conferences, during the fourth quarter of this year. The agenda of events will begin with the MidEast Watch and Jewellery show in October and end on December 14 with the China Trade Week. The centre’s list of upcoming exhibitions ...

ADEN / WAM While military operations are measured by the liberation of towns under Houthi control, the pace of change in Yemen is being driven by ordinary people. Speaking to the Emirates News Agency (WAM), local Yemenis spoke of their relief at being free from Houthi oppression and of how the efforts of the legitimate Yemeni government and the Arab ...

HODEIDAH / WAM The Emirates Red Crescent (ERC) launched a project to dig an artesian well in Al Waa’ra in Khawkhah District, Hodeidah Governorate. The project is part of the UAE’s efforts to provide safe drinking water to the people of Yemen, and fulfil the needs of the residents of the country’s liberated areas who are suffering from a lack ...

DUBAI / WAM Dubai Parks and Resorts has announced that it signed a strategic partnership with Chinese payment gateway UnionPay to provide marketing services and facilitate payments for cardholders visiting the UAE. The partnership between Dubai Parks and Resorts and UnionPay started on August 1 and target the growing number of Chinese visitors. Commenting on the partnership, Ahmed Al Rayyes, ...