News

Abu Dhabi / WAM The UAE and Sri Lanka have signed a Memorandum of Understanding (MoU), to foster cooperation in the labour and manpower fields. The MoU was attached by a protocol agreement that aims at facilitating the process for approving and recruiting domestic workers. The MoU were signed by Nasser bin Thani Al Hamli, Minister of Human Resources and ...

DUBAI / WAM Master developer Nakheel on Sunday officially signed a contract for the construction of Deira Mall, its new shopping, dining and entertainment destination with a total value of AED4.2 billion – and the biggest mall in the Middle East. Nakheel confirmed that United Engineering Construction (UNEC), will build the mall, the UAE’s largest in terms of leasable space, ...

Abu Dhabi / Emirates Business Abu Dhabi Ports announced the launch of the first Port Digital Innovation Lab, as part of its commitment to innovation, through providing a platform for creative minds in the UAE to develop innovative solutions and technological applications to meet trade and industry needs. The lab is located at Maqta Gateway, an Abu Dhabi Ports subsidiary, ...

Sharjah / Emirates Business Sharjah Investment and Development Authority (Shurooq) has unveiled a new strategic partnership with leading Kuwaiti real estate developer ‘Mabanee’ to develop a groundbreaking real estate project which will change the face of retail in Sharjah. The new partnership was formed during an agreement signing which took place yesterday (Sunday) between Sheikha Bodour bint Sultan Al Qasimi, ...

SHARJAH/ WAM Sharjah International Airport (SIA), received 11.63 million passengers and 77,600 flights last year. These figures were released during a senior management meeting in Al Noor Island in Sharjah. Besides the airport’s achievements in total flights and passenger growth, including freight volume, future plans and programmes were also discussed. Passenger traffic increased by 327,000 passengers, as compared to last ...

Dubai / Emirates Business Noor Bank, a leading Shari’a compliant bank in the UAE, has launched a limited period offer giving customers a chance to get up to half-kilogram in gold coins—based on the amount of funds saved with the bank. Valid until February 28, the promotion will reward new and existing customers, who maintain an incremental balance of AED ...

Dubai / Emirates Business The Italian Trade Agency (ITA) in the UAE will showcase Italy’s nautical pride at the 26th Dubai International Boat Show, taking place at the Dubai Canal, Jumeirah from February 27 to March 3. On this occasion, ITA will bring together 9 specialised marine equipment suppliers and service providers to demonstrate their capacity to develop and innovate ...

Bloomberg Three of the world’s biggest oil companies called on Norway to help maintain funding for carbon capture and storage (CCS) technology that is stagnating amid concerns about whether it can ever be cost-effective. The chief executive officers of Royal Dutch Shell Plc, Total SA and Norway’s state-controlled Statoil ASA gathered on the sidelines of an energy conference in Oslo ...

Bloomberg Kenya will introduce a royalty for geothermal-power producers under a proposed new law. Fees will be levied at a rate of 1 percent to 2.5 percent of revenue generated from the energy source within the first decade of a geothermal license being issued, according to the draft Energy Bill presented to lawmakers. The levy will then climb to between ...

DUBAI / Reuters State-owned Oman Gas Co. is working with a group of banks to raise a bridge loan of slightly over $1 billion, which will later be refinanced via a US dollar bond issue, sources familiar with the matter said. The natural gas transport company, which was bought by state-owned Oman Oil Company in 2013, will use the financing ...