News

Bloomberg Nokia Oyj plunged after saying customers aren’t quite ready to increase spending on faster networks and are demanding price cuts. In the second quarter, Nokia’s operating profit fell 42 percent to 334 million euros ($391 million), short of the 374.5 million-euro average of analysts’ estimates compiled by Bloomberg. Suri said he expects market conditions to improve further in the ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister for Tolerance, said that the UAE, since its establishment by the late Sheikh Zayed bin Sultan Al Nahyan, presented leading models of friendship and community harmony to the world, with its various residents of many races, religions and cultures. He made his statement on the occasion of the annual ...

ABU DHABI / WAM Around AED1 billion worth of wages was transferred through UAE Wages Protection System (WPS) during the period from 2013 through 2017. According to CBUAE statistics, salaries transferred thro-ugh WPS has been on a rise over past five years, increasing from AED147 million in 2013 to AED170.6 million in 2014. In 2015, AED196 million worth of salaries ...

DUBAI / WAM Dubai Airport Freezone Authority (Dafza) has reduced business set-up cost by up to 65 percent, as part of its aim to increase its regional competitiveness and activate a number of key sectors by attracting Foreign Direct Investment (FDI). Supporting Dubai’s efforts to become an ideal destination for investment and prosperity, the decision will help achieve further stability ...

DUBAI / WAM The Roads and Transport Authority (RTA) in Dubai has launched Apple Pay feature enabling customers using iPhones to process the payment of several fees in a quick and safe environment via RTA Dubai app. The RTA has thus become one of the first government departments in the emirate to use this technology. The step reflects RTA’s endeavours ...

DUBAI / Emirates Business Deyaar Development PJSC, one of Dubai’s leading property developers and real estate service providers, announced its financial results for the first half of 2018, ending on June 30, demonstrating that the company had a solid start to the year. Deyaar reported revenues of AED314 million for the six months ending June 30, 2018, a 0.7 percent ...

Dubai / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties PJSC, recorded a growth of 8 percent in its net profit for the first half (January to June) 2018 to AED 1.102 billion ($300 million) compared to the H1 2017 net profit of AED 1.021 billion ($278 million). Revenue for half-year 2018 is AED ...

ABU DHABI / WAM The Abu Dhabi Department of Economic Development (ADDED), announced on Sunday that it has expanded its Tajer Abu Dhabi licence package by opening it up to all GCC nationals and UAE residents and increasing the number of eligible commercial activities to 1,057; all exempted from having a physical presence or an office. The department has also ...

Abu Dhabi / WAM The Federal Authority for Nuclear Regulation (FANR), has been awarded the ISO 27001 Certification for Information Security Management. The ISO 27001 is a framework that helps organisations manage and protect their information internally and externally. The certification will support FANR by identifying information-related risks and developing the needed controls in order to minimise them. The certification ...

DUBAI / WAM Dubai SME, the agency of the Department of Economic Development (DED), in Dubai mandated to develop the small and medium enterprise (SME), sector, marked the opening of ‘The Co-working Popup,’ the latest business incubator to come on stream in the emirate following the introduction of the new regulations for ‘Incubators and Business Accelerators earlier this year. Abdul ...