News

Bloomberg A Shanghai court accused former Anbang Insurance Group Co. Chairman Wu Xiaohui of masterminding a 65.2 billion yuan ($10.4 billion) fraud, using unauthorised sales of investment-type policies to prop up the acquisitive company’s capital. The charges in court statements, which offer an unprecedented glimpse into Anbang’s inner workings, allege wrongdoing going as far back as 2007. Wu ordered up ...

ABU DHABI / WAM Grants offered by the UAE inside and outside the country stood at AED39 billion during the first nine months of 2017 an increase of 44.8 percent over the same period of 2016 when it reached AED15.9 billion according to statistics by the Central Bank of the UAE. “Grants provided by the UAE in the first half ...

DUBAI / Reuters United Arab Emirates’ healthcare provider NMC Health has raised a $2 billion loan which will be used for general corporate purposes and partly to refinance existing debt, sources familiar with the matter said. The fundraising, completed earlier this month, was provided by a consortium of banks including Citi, JPMorgan and Standard Chartered, the sources said. London-listed NMC ...

ABU DHABI / WAM Masdar, Abu Dhabi Future Energy Company, announced the signing of a Memorandum of Understanding (MoU) with the Korea Energy Agency (KEA) for renewable energy collaboration and investment between the South Korea and the UAE. Mohamed Jameel Al Ramahi, Masdar’s CEO and Dr. Nam Hoon Kang, President and CEO of KEA, signed the MoU, which coincided with ...

DUBAI / WAM Smart Dubai has signed an agreement with Swedish trade and investment board, Business Sweden, at its headquarters in Dubai Design District (d3). The agreement seeks to encourage cooperation and exchange of expertise between the two sides with regards to advanced technologies, such as blockchain, artificial intelligence (AI) and the Internet of things (IoT). It also fosters cooperation ...

Dubai / WAM Local and Federal Government entities play a significant role in supporting the growth of national start-ups by providing lucrative contracts and business opportunities through the Government Procurement Programme (GPP), His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said. The programme is a leading initiative that ...

Sharjah / WAM His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, will open the seventh International Government Communication Forum (IGCF), at the Sharjah Expo Centre, on Wednesday. Organised by the International Government Communication Centre (IGCC), the two-day forum is being held under the theme ‘Digital Millennium…Where To?’ and will host more than ...

Abu Dhabi / WAM The UAE on Tuesday hosted the first ‘Lessons Learned Countering Improvised Explosives Devices (C-IED), conference in Abu Dhabi, to discuss ways and share expertise to defeat the growing threat of these lethal booby-traps. “The main purpose of this conference is to increase cooperation and exchange of information, experiences and lessons learned in order to counter the ...

Abu Dhabi / WAM The ADNOC Technical Academy (ATA), has taken an active role in this year’s National Service Career Fair as it seeks to recruit talented UAE nationals for its 2018 intake. The ATA offers its students a hands-on training and education programme that prepares them for careers in Abu Dhabi’s oil and gas industry. Established in 1978, ATA ...

Abu Dhabi / WAM There are great potentials to increase cooperation between the UAE and Denmark in areas of sustainability, climate change, green energy and environment protection, Esben Larsen, Denmark’s Environment and Food Minister, said. In an exclusive interview with the Emirates News Agency (WAM), he added, “I am here on a three-day official visit mainly to discuss with several ...