News

Bloomberg With no let-up in sight for listed UK real estate agents, the companies could find themselves the targets of a wave of M&A activity. So say industry analysts and executives, who note that traditional high-street players like Foxtons Group Plc and Countrywide Plc face a stagnant housing market while losing market share to online competitors. Investors are running out ...

DUBAI / Reuters Gold trader Regal RA DMCC has become the first company in the Middle East to be awarded a licence by the Dubai Multi Commodities Centre (DMCC) to trade in cryptocurrencies. The licence allows the company to store bitcoin, ethereum and other alternatives to the best-known digital currencies in a vault located in the headquarters of the commodities ...

New Delhi / WAM The UAE and India have reached a historic agreement which will enable businesses on both sides to bypass the US Dollar or any other foreign currency and trade directly in UAE Dirhams and the Indian Rupee. The agreement will mean large savings for business communities on both sides as trade between the UAE and India soars ...

DUBAI / Reuters Banks in the United Arab Emirates are hopeful of recovering some funds in 2018 from the multibillion-dollar collapse of Saudi Arabia’s Saad Group and Ahmad Hamad al-Gosaibi & Bros Co (AHAB) nearly a decade ago, a senior banking official told Reuters. The two conglomerates defaulted in 2009 in Saudi Arabia’s biggest financial meltdown, leaving international and regional ...

DUBAI / WAM Hussain Nasser Lootah, Director-General of Dubai Municipality has announced that the municipality will launch a satellite aimed at collecting data and is capable of monitoring the UAE from space. He made the announcement while speaking at the opening session of the second day of World Government Summit. Lootah said the satellite will be capable of determining different ...

DUBAI / WAM Emirates NBD on Tuesday announced its position as the UAE’s most valuable banking brand with a $3.534 billion brand valuation in The Banker’s annual brand valuation league table. The bank also secured a spot among the top 100 global banking brands, coming in seventy-first worldwide up from seventy-fifth in 2017. Emirates NBD has moved up four places ...

ABU DHABI / WAM Leo Doherty, a British Member of Parliament currently visiting the UAE with a delegation from the UK-UAE All-Party Parliamentary Group (APPG), described himself as ‘very impressed by the UAE’s innovative approach to governance, including e-Governance.’ This was, he said, “something from which the British Government could take some important lessons.” Docherty, a former army officer who ...

ABU DHABI / WAM The National Centre of Meteorology (NCM), and the National Research Institute of Astronomy and Geophysics in Egypt (NRIAG), have signed a Memorandum of Understanding (MoU), on scientific research cooperation in the field of Seismology, as one of the requirements for maintaining sustainable development. The MoU aims to exchange seismic information around the clock to contribute in ...

ABU DHABI / Emirates Business Daemaar Group opened doors to its first retail store UPIM (Unico Prezzo Italiano Milano) at Khalidiya Mall, Abu Dhabi marking its entry into the retail sector. UPIM is a famous Italian value brand known for its unique prices with Italian quality which deals in Mens, Womens & Childrens fashion wear. The new Fashion store which ...

Dubai / Emirates Business Etisalat announced the launch of the ‘Hello Business Hub’, aimed at assisting Small and Medium Businesses (SMBs) to give them the flexibility and ease the process of setting up a business to kick-start their operations in the UAE, as well as services tailored for SMBs beyond telecommunications services, all under one roof. Etisalat’s newly launched Hello ...