News

Dubai / WAM Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED350 million for the quarter ending September 30th, 2017, an increase of 4.8 percent over the AED334 million achieved during the same quarter last year. The company’s net profit for the first nine months of 2017 was AED830 million, ...

Dubai / Reuters Dubai-based Emirates REIT, a sharia-compliant real estate investment trust, plans to issue a debut Islamic bond of at least $300 million by the end of this year, said a source close to the company. The sukuk, to be denominated in US dollars, could potentially replace all of the company’s outstanding debt, said the source, who spoke on ...

ABU DHABI / WAM With the approval and blessings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the new ministers of the UAE government took the oath on Tuesday before His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, at Mushrif Palace in Abu Dhabi, in the presence ...

Dubai / Emirates Business Etisalat and RAKBANK on Tuesday signed a Memorandum of Understanding (MoU) for Managed Point of Sale Services. As part of the strategic partnership, Etisalat shall provide RAKBANK with last-mile Point of Sale (PoS) operations as its outsourced and managed service partner, a first-of-its-kind approach in the UAE payments and banking industry. The MoU was signed by ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has directed the Knowledge and Human Development Authority (KHDA), to draft a plan to increase percentage of Emirati students admission in private schools, which are rated good and above 100 percent, over the next three years. His remarks ...

Abu Dhabi / Emirates Business The Tourism Development and Investment Company (TDIC), master developer of major tourism, cultural and residential destinations in Abu Dhabi, has on Tuesday released an additional building for sale at Mamsha Al Saadiyat, Saadiyat Island’s spectacular beachfront community currently under development. Building 1 also known as the Azure building, offers investors and prospective homeowners a compelling ...

DUBAI / Emirates Business Emirates, recognized this year as the Best Airline in the World in the inaugural TripAdvisor Travelers’ Choice Awards, is celebrating 10 years in Canada. Since the inaugural flight in October 2007, Emirates has carried over 1.2 million passengers through its Toronto – Dubai route. In Canada, Emirates’ established codeshare partnerships with WestJet and Alaska Airlines enable ...

Abu Dhabi / WAM Abu Dhabi Airports welcomed airBaltic’s first flight arriving from Riga, Latvia. The maiden flight marks the commencement of a direct service four times a week between Abu Dhabi International Airport (AUH), and Riga International Airport (RIX), by airBaltic. The inaugural flight arrived at 7:25 am on October 30 and was welcomed with the traditional water cannon ...

Abu Dhabi / Emirates Business Transformation, diversification and evolution will be top keywords at the world’s leading annual conference for oil and gas professionals, the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), as the industry readies itself for future challenges and opportunities. ADIPEC is renowned as a global hub for knowledge exchange in the hydrocarbon business, with its landmark ...

Dubai / Emirates Business His Highness Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, on Tuesday opened Gulfood Manufacturing 2017, the fourth edition of the Middle East’s largest ingredients, processing, packaging, and logistics exhibition at the Dubai World Trade Centre (DWTC). Touring the 80,000 square metre show, which runs for three days and is expected to attract tens of thousands ...