News

Abu DHABI / WAM The number of projects funded by the Khalifa Fund for Enterprise Development (KFED) reached 1,364 projects in 2017, of which 27 percent are industrial projects while the total value of funding approved by the fund exceeded AED1.6 billion since its establishment in 2007. In an interview with the Emirates News Agency (WAM), Abdullah Saeed Al Darmaki, ...

RAS AL KHAIMAH / WAM The Ras al-Khaimah Chamber of Commerce and Industry announced that the number of certificates of origin issued during the first six months of the current year reached 13,900 while the total value of exports by its members reached AED4.2 billion during the same period. Dr Ahmed Rashid Al Shamaili, Assistant Director-General of the Commercial Services ...

Dubai / Emirates Business As the Middle East accelerates its digital transformation and Smart Cities growth, regional data center spend will reach a record-high of $5 billion by 2020, industry experts announced ahead of GITEX Technology Week. Middle East and North Africa data center spend to reach a record high of $5.1 billion by 2020, increasing by 8.5 percent from ...

ABU DHABI / WAM The relations between the UAE and Norway have witnessed increasing development, in line with their strong bilateral ties over the past decades with the value of their trade exchange reaching around $639.9 million in 2017, compared to $326.7 million in 2016, according to Ministry of Economy’s Trade Policy Review Report. The value of imports from Norway ...

SHARJAH / WAM Gulftainer, the world’s largest privately owned independent port operator based in the UAE, will host a ceremony to commence the construction of the Saja’a Permanent Access Road. The company’s AED11 million investment in the road extension aligns with its objective to play a key role in driving Sharjah’s economy. The highway will extend over two kilometres to ...

DUBAI / WAM The UAE has ranked above the global average in well-being, according to a report released by Cigna Corporation. Factoring in the responses of the resident UAE population — for the second consecutive year — the findings indicate that overall well-being remains stable with residents more confident of their ability to manage current and future costs, and the ...

DUBAI / WAM The Business Protection section of the Department of Economic Development (DED) in Dubai has seen a 52 percent increase in complaints regarding commercial disputes during the first half of 2018, compared to the same period last year. The section received 790 complaints during H1 2018 as against 520 complaints during the first half of 2017 as more ...

ABU DHABI / WAM The Arab Youth Centre revealed its list of ‘Young Arab Pioneers,’ which includes youths under 35 years of age from many Arab countries, who have a record of accomplishments, positively contributed to their communities, created opportunities, and provided solutions to challenges facing the Arab world. To mark the occasion, Shamma bint Suhail Faris Al Mazrui, Minister ...

AJMAN / WAM The Business Club licensing package by Ajman Media City Free Zone gives instant access to UAE and Arab region at the lowest investment and also gives freedom to focus on core business from day one, said Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone. “Business Club business set up package offers ...

ABU DHABI / WAM Adnoc Distribution has reported that net profit for the six months ended June 30, increased by 18 percent to AED1,124 million compared with the same period last year. According to a press statement, EBITDA grew by 30 percent to AED1,443 million, and gross profit rose by 24 percent to AED2,609 million. Free cash-flow generation was up ...