News

DUBAI / WAM Marks & Spencer (M&S) on Tuesday confirmed the sale and franchise of its retail business in Hong Kong and Macau to its long-established franchise partner Al-Futtaim. The sale, which completed on December 30, sees Al-Futtaim become the new sole franchisee for M&S in Hong Kong and Macau. Al-Futtaim has worked in partnership with M&S since 1998 when ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) received a high-level delegation from Saudi Aramco company. The meeting heightened cooperation between the two organisations, with Saudi Aramco able to review practices and expertise at DEWA, including benchmarking and key performance indicators. The delegation included Khalid Al Salouli, Aramco Director and Head ...

SINGAPORE/ Reuters Oil prices posted their strongest start to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. US West Texas Intermediate (WTI) crude futures traded broadly flat at around $60.40 a barrel by 1425 GMT after hitting $60.74 earlier in the ...

DUBAI / Emirates Business Global trade enabler DP World’s Jebel Ali Free Zone (Jafza) has welcomed Maysun Solar, the first photovoltaic panel producer to set up a manufacturing facility in the region’s leading free zone. Maysun Solar currently manufactures 5,000 solar panels a month with a capacity to generate 40 megawatts of electricity. The launch follows DP World’s on-going solar ...

DUBAI / WAM Mashreq Bank has announced that it was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London. The dinner hosted at the RSA House in London saw Mashreq win awards for; Best Consumer Mobile Banking Global, Best in Mobile Banking Middle East, Best Mobile Banking App Middle East, ...

DUBAI / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Patron of the Al Maktoum Foundation, provided AED3.1 million to the Islamic Sheikhdom of Kosovo to implement several endowment projects, whose profits will support the sheikdom’s budget, as well as economic and educational projects, such as commercial stores, school classes ...

ABU DHABI / WAM The Telecommunications Regulatory Authority (TRA), successfully completed on Tuesday the tests of the Internet Protocol version 6 (IPv6) on the Federal Network (FedNet), as well as conducting all internal assessments and practical tests to ensure the readiness of FedNet in terms of hardware and software requirements. The tests were conducted in cooperation with the UAE accredited ...

Abu Dhabi / Emirates Business One resort destination. Three distinct experiences. Countless ways to explore, relax and indulge in exotic Arabian island life this season. Encounter the free roaming wildlife and beautiful rugged landscapes of Abu Dhabi’s stunning Sir Bani Yas Island from inspirational settings, culminating in the ultimate Arabian island experience. Al Yamm Villa Resort Spa Experience Enter a ...

DUBAI / WAM Marking the commencement of ‘Year of Zayed’, the Awqaf and Minors Affairs Foundation (AMAF) received its first donation of AED5 million from a benevolent Emirati lady donour, Dawlat Mahmoud Al Mahmoud. Mrs Al Mahmoud’s donations were presented on behalf of her late husband Abdulghafoor Ali Gargash and herself. The donation complements her previous contribution of AED20 million ...

Dubai / Emirates Business Gulf Navigation Holding PJSC announced its intention to increase the company’s capital by AED 448,333,334 in order to make the issued and paid up share capital to be AED 1 billion, distributed over 1,000,000,000 shares at a par value of AED 1 per share without issuance premium, based on the company’s General Assembly resolution approved unanimously ...