News

Bloomberg The UK’s Cineworld Group Plc agreed to buy US theatre operator Regal Entertainment Group for about $3.6 billion to expand into the biggest movie market. The $23-a-share deal comes a week after the companies confirmed news reports of takeover discussions, jolting cinema-operator stocks. The price represents a 26 percent premium to Regal’s close on November 27, the day before ...

Dubai / WAM DP World has announced that it completed the acquisition of an additional 66.67% stake in Empresa Brasileira de Terminais Portuarios (Embraport) in Brazil from Odebrecht Transport (OTP). This transaction increases DP World’s shareholding to 100% and the terminal will be rebranded to DP World Santos. The purchase consideration is below 5% of DP World’s net asset value ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) signed a Memorandum of Understanding with the National Health Insurance Company, Daman, to collaborate and consult on initiatives to promote the growth and development of the insurance-related FinTech ecosystem, InsurTech, in Abu Dhabi and the UAE. The MoU was signed by Dr Michael Bitzer, CEO of Daman, and Richard Teng, CEO ...

ABU DHABI / WAM The UAE Central Bank’s reserve of gold bars amounted to AED1.129 billion by the end of October, a growth of 11.2% from AED1.015 billion by the end of 2016. The month of April saw the CB resuming gold holdings after eight years during which the banks’ reserves were confined to a foreign currency basket, primarily US ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has said that the 46th National Day is testimony to the fact that no matter what the challenges are, the determination of honest leaders to prioritise the wellbeing and prosperity of citizens over everything else always prevails. In a statement issued through the ...

Abu Dhabi / WAM The Scottish government has appointed its first Scottish trade envoy to the UAE and in the MENA region, reflecting the significance of the UAE to Scotland and the UK. Nick Maclean will serve in the position as part of Scotland’s plans to extend its worldwide business reach with the appointment of a team of trade envoys ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued a Resolution forming a Joint Cooperation Committee between the United Arab Emirates and Saudi Arabia. In its first article, the Resolution stipulates the establishment of a joint committee for cooperation and coordination between the UAE and the Kingdom of Saudi Arabia, to be jointly chaired ...

SHARJAH / WAM The first Women’s Economic Empowerment Global Summit (WEEGS 2017) was inaugurated on Monday in the presence of His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, his wife, Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of NAMA and Honorary Patron for Global Women’s Inclusion, and several high-ranking government ...

ABU DHABI / WAM Abu Dhabi National Exhibitions Company (ADNEC), on Monday announced that the electronic registration is open for local and international exhibitors, visitors and media persons wishing to participate in the 2018 editions of Unmanned Systems Exhibition and Conference, UMEX, and Simulation Exhibition and Conference, SimTEX. Organised by ADNEC, UMEX and SimTEX 2018 will run from February 25-27, ...

ABU DHABI / WAM The Integrated Transport Centre (ITC), is participating at the 16th edition of the Gulf Traffic Exhibition and Conference aiming at introducing the public with ITC’s latest projects, initiatives and smart applications. Mohammed Darwish Al Qamzi, the General Manager of the ITC, said that the projects and smart applications the ITC is presenting in the Gulf Traffic ...