News

Bloomberg Facebook Inc. signed a multiyear licensing deal that lets the social network carry songs and artists from the world’s biggest record label, Universal Music Group, across its platforms. The deal solves a long-running dispute, with Facebook agreeing to compensate the company and artists including Taylor Swift when users post videos that include copyrighted material. The accord includes Facebook, Instagram ...

DUBAi / Emirates Business Ahmed Mahboob Musabih, Director of Dubai Customs, received Japan’s Consul-General in Dubai Akima Umezawa, where they discussed reinforcing mutual cooperation to enhance trade and customs ties between the United Arab Emirates and Japan. Welcoming the Consul-General of Japan, Ahmed Mahboob Musabih underscored Dubai Customs’ commitment to constant coordination with Japanese diplomatic corps to boost trade between ...

ABU DHABI / WAM The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) have continued their impressive increase since the beginning of the year, with EIBOR set for one-month period posting a significant rise of 19 percent over the past two months, surging to 156 points on December 24 from 131 points in early November, according to UAE ...

AJMAN / WAM HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has approved the general budget of the Ajman Government for the 2018 fiscal year. He issued Emiri Decree No. 27 of 2017 on adopting the bud-get, with expenses totalling AED1.367 billion, 16 percent higher than the 2017 budget. HH Sheikh Ammar bin Humaid ...

DUBAI / WAM First Abu Dhabi Bank (FAB) has been named the UAE Asset Manager of the Year by the Global Investor Group. FAB representatives received the award during the MENA Asset Management and Trading Summit held in Dubai. Jointly organised by Global Investor Group and Futures & Options World (FOW), the MENA Asset Management and Trading Summit brought together ...

DUBAI / WAM The Dubai Health Authority (DHA) has called on individual sponsors and company owners in Dubai to renew health insurance of their employees and dependents to avoid any fines. Dr Haidar Al Yousef, Director of the Health Funding Department at the DHA, said that sponsors and company owners who violate the Dubai Insurance Law No. 06 of 2017 ...

ABU DHABI / WAM The Abu Dhabi City Municipality (ADM) has announced the completion of a comprehensive project involving extensive maintenance infrastructure works at Al Wathba, Zayed City and Musaffah covering rehabilitation of roads, greens, lighting & irrigation networks, and pavements. The project is part of the overall maintenance plan aimed at upgrading and renovating the infrastructural components as well ...

Dubai / Emirates Business Dubai continues to grow in stature as a hub for regional and international associations, with organisers lauding the success of the inaugural Dubai Association Conference and emphasising the opportunities available in the emirate. The two-day event took place at Dubai World Trade Centre (DWTC) attracted over 300 delegates, including associations and industry experts, from 32 countries. It ...

Abu Dhabi / WAM Rashid Al Baloushi, CEO of the Abu Dhabi Securities Exchange (ADX), participated in the ‘Annual Conference on Cultural Diplomacy 2017’, in Berlin, Germany, from December 19-22, under the title, ‘Promoting Global Collaboration, Unity and Peace through Cultural Diplomacy’. More than 500 political and economic experts, as well as scholars, participated in the conference. Al Baloushi highlighted ...

Dubai / WAM The Telecommunications Regulatory Authority (TRA), announced the initiation of IMT2020 technology, also known as 5G technology. Licencees from mobile operators in the UAE will start the deployment of 5G networks in several phases starting from early 2018, allowing the use of harmonised spectrum bands and the development of the ICT infrastructure. This development facilitates the implementation of ...