News

ABU DHABI / WAM Shuaa Capital has announced the completion of its acquisition of Integrated Securities (IS) and Integrated Capital (IC), following final approval by the Emirates Securities and Commodities Authority and the UAE Central Bank. Shuaa’s current multi-pronged business strategy — which came into effect in early 2017 — helped it return to a path of sustained long-term profitability, ...

ABU DHABI / WAM The UAE Central Bank announced that the money supply aggregate M1 rose 0.2 percent, from AED509.7 billion at the end of February 2018 to AED510.6 billion at the end of March 2018. In a statement, the bank said, “The money supply aggregate M2 increased by 0.7 percent, from AED1284.9 billion at the end of February 2018 ...

Dubai / Emirates Business Dubai Islamic Economy Development Centre (DIEDC) on Tuesday announced its collaboration with Nasdaq Dubai to design and implement new initiatives that complement Dubai’s success in emerging as a leading global sukuk-listing hub. The announcement was made at a session to present updates on the Dubai Gold Sukuk Centre initiative to His Highness Sheikh Mohammed bin Rashid ...

Abu Dhabi / WAM The latest statistics from the Abu Dhabi Statistics Centre (ADSC), showed that the number of hotel establishments in Abu Dhabi, including hotels, resorts and hotel apartments, reached 162 while the number of rooms reached 30,882 at the end of 2017. The numbers of hotel guests in 2017 also surged to 4.88 million, a growth of 10.1 ...

CHIBA CITY / WAM Abu Dhabi Airports announced on Tuesday that Abu Dhabi International Airport is the first airport in the UAE to be awarded the Gold Certificate Recognition 2018 by the ACI Asia-Pacific in the airport category between 15 million to 25 million passengers per year, for its engagement and efficiency in green initiatives, and for displaying consistent commitment ...

DUBAI / Emirates Business Noor Bank, one of the leading Shari’a compliant banks in the UAE, won the ‘Islamic Auto Finance Provider of the Year’ distinction for the second consecutive year at the YallaCompare Banking Awards. The accolade recognises Noor Bank’s suite of auto finance services and tailored auto-focused solutions offered to customers. Speaking on the win, John Iossifidis, CEO ...

Sharjah / WAM The Sharjah Investment and Development Authority (Shurooq), has signed a management agreement with Emaar Hospitality Group to operate a lifestyle boutique hotel in the heart of Al Qasba. Vida Al Qasba Sharjah, to be operated under Emaar Hospitality Group’s Vida Hotels and Resorts, will add yet another dimension to Shurooq’s tourism portfolio, together with some of the ...

DUBAI / Emirates Business In partnership with Asia House, DMCC, the world’s leading Free Zone for commodities trade and enterprise, hosted the ‘The New Global Trade Order’ conference at Almas Tower on Tuesday. More than 300 policymakers and leading figures from the global trade and investment industries gathered to discuss ways to better understand the emerging world trade system given ...

Abu Dhabi / Emirates Business Etisalat Group on Tuesday announced its consolidated financial statements for the three months ending March 31. Etisalat Group announced that consolidated revenues in Q1 amounted to AED 13.1 billion, representing an increase of 5 percent year over year. In the UAE, the revenue of the company in first quarter increased year on year by 3% ...

Abu Dhabi / WAM The Sheikh Zayed Grand Mosque in Abu Dhabi received 516,141 visitors and worshippers in March of various nationalities, from both inside and outside the country. The Sheikh Zayed Grand Mosque Centre (SZGMC), organised many events in March, in line with its leading cultural role and its efforts to promote the values of tolerance and coexistence, according ...