News

Sharjah / WAM The Sharjah Electricity and Water Authority (Sewa), won first place in the Waste Management and Recycling Prize, the institution category, for its efforts in recycling print ink cartridges. The prize is organised annually by the Emirates Environmental Group (EEG). Dr. Rashid Al Leem, Chairman of SEWA, said that the authority pays great attention to environmental projects and ...

Dubai / WAM SHUAA Capital, the UAE’s premier integrated financial services firm, and National Bonds, a leading savings and investment company, have announced plans to launch a joint venture in the Kingdom of Saudi Arabia. A Memorandum of Understanding (MoU) was signed recently by both parties detailing their commitment to offer savings and investments schemes in Saudi Arabia. By combining ...

Abu Dhabi / WAM Abu Dhabi Islamic Bank (ADIB), has won the title of ‘World’s Best Islamic Bank’ in The Banker Magazine’s Awards for Islamic Banks in 2018 the highest accolade that the Financial Times-owned publication awards to Islamic banks. ADIB also won two regional awards for ‘Islamic Bank of the Year – UAE’ and ‘Islamic Bank of the Year ...

Abu Dhabi / WAM New York University (NYU) Libraries on Sunday announced that the philanthropic foundation Carnegie Corporation of New York has made a grant of $500,000 to support Arabic Collections Online (ACO), a major project to create a publicly available, digital library of public-domain Arabic language content. ACO aims to digitise 23,000 volumes from NYU and partner institutions and make ...

Dubai / WAM Dubai continued to be the destination of choice for businessmen and investors as the Department of Economic Department (DED), issued 1,689 new licenses and completed 26,184 transactions relating to business registration and licensing in the emirate during May 2018. Renewal of existing licenses accounted for the largest share of the total transactions as their numbers reached 12,618, ...

Abu Dhabi / WAM The Abu Dhabi City Municipality (ADM) has announced the introduction of the visual communication system service through smartphones and tablets on the ‘Cisco WebEx Meetings’ App has reduced the time and effort of both customers and employees and reduced the number of visitors to Building Permits Division by 90 percent. Through this system, the Municipality aims ...

Bloomberg Enbridge Inc.’s decision to implement and then scrap new rules governing Canada’s biggest export pipeline system sent crude prices on a record roller coaster move this week, earning the pipeline operator both friends and enemies. BP Plc filed a complaint this week with Canada’s National Energy Board saying Enbridge used an “unreasonable exercise of discretion” when it announced and ...

Bloomberg As China looks to buy more from the US this year, its oil purchases are helping a bit. Sales increased by about $1.2 billion in the first four months of 2018 compared with a year earlier, thanks to stronger global crude prices. China has offered to boost purchases of US goods by about $25 billion this year ahead of ...

Bloomberg Deutsche Bank AG is seeking to sell its portfolio of non-investment grade energy loans, worth about $3 billion, according to people with knowledge of the matter. The Frankfurt-based lender, which said in May it was closing its Houston office, is planning to sell the loan book as a whole and has marketed it to North American and European peers, ...

Bloomberg Chinese President Xi Jinping and Indian Prime Minister Narendra Modi committed to continue improving ties between Asia’s most populous countries in a bilateral meeting on the sidelines of a summit in China. Xi was hosting leaders of the Shanghai Cooperation Organization (SCO) in the coastal city of Qingdao over the weekend. The China-led grouping includes India, Russia, Pakistan and ...