News

DUBAI / WAM DP World continues to boost the capabilities of Dubai’s cruise tourism sector, setting the city as a premier international cruise destination. The Dubai Cruise Terminal at Port Rashid, operated by DP World, welcomed 625,000-holidaymakers in 2016-2017 cruise tourism season, doubling the 320,000 cruise visitors that arrived in Dubai in the 2013-2014 season. Key to this growth is ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has ordered the distribution of an additional bonus amounting to AED33,295,000 to owners of taxi plates in Dubai. The total number of plates benefiting from the distribution is 6,659. Dubai Taxi Corporation and other taxi franchise companies operate the ...

Abu Dhabi / WAM The Ministry of Economy (MoE) signed MoUs to launch the ‘National Programme for Supporting Emerging, Modern and Innovative Businesses’ with 14 state-run entities as part of its participation in the 3rd Government Accelerators. The 14 departments are: Ministry of Finance; the Telecommunication Regulatory Authority; the Securities and Commodities Authority; Takamul Programmme, run by the Department of Economic ...

Dubai / WAM His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Knowledge Foundation, has honoured 31 winners, including commercial and innovative projects and people of determination, at the 12th edition of the Young Entrepreneur Competition 2018 (YEC), on Saturday. The competition is organised by Dubai SME, the agency of the ...

Sharjah / WAM Sharjah Islamic Bank (SIB), has been awarded the ISO 27001 Certification, and is among few in region to have been given this accolade. ISO27001 is a globally recognised standard for ‘Information Security Management System’ and provides the accreditation on SIB’s security practices to customers, regulators, partners and other stakeholders and ensures that SIB is aligned with the ...

Abu Dhabi / WAM The UAE International Investors Council announced its support for DP World Group and its legal measures performed in the case regarding the Republic of Djibouti’s termination of the concession contract for the Company’s operation of the Doraleh Container Terminal towards one of the most prominent Emirati investment entities in the world, the DP World company. The ...

Abu Dhabi / Emirates Business The Federal Tax Authority (FTA) has launched a roadshow to communicate directly with businesses subject to Value Added Tax (VAT) that haven’t registered yet, urging them to benefit from the exemption given by the Authority until April 30, 2018, which took into consideration the lack of preparedness among businesses in an effort to promote compliance ...

DAMMAM / WAM The UAE Armed Forces are participating in the final maneuvers of the region’s largest scale military drill ‘Joint Gulf Shield I’ with the participation of 24 friendly Gulf, Arab and Muslim countries. The drills will also be witnessed by Arab and Muslims leaders and heads of state on Monday in the Saudi Eastern Province. “The drills reinforce ...

Bloomberg OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation, the International Energy Agency said. Less than 10 percent of the surplus in oil inventories remains, as OPEC and its partners have cut production by even more than they intended while world demand ...

MILAN / Reuters Italian energy group Eni is considering stepping up its investment in nuclear fusion, potentially doubling down on a technology considered so uncertain that Eni remains the only global oil company prepared to place a bet on it. Eni and bigger rivals such as Shell and BP have been looking at moving into renewable energy as climate change, ...