News

Abu Dhabi / WAM The UAE Central Bank withdrew AED23.8 billion ($6.53 billion) in excess liquidity in four months, as part of its policy to manage excess liquidity in the banking system. In the meantime, certificates of deposit at the bank rose to the tune of AED126.64 billion by the end of September. Official statistics show that the month of ...

DUBAI / Emirates Business Dubai Trade, the single window for cross-border trade and a DP World company, has integrated its Rosoom secured e-Payment gateway with Tahweel, the e-service portal of Dubai Maritime City (DMC). This partnership supports the Dubai Maritime Sector Strategy and the Smart Dubai initiative. The new step enables companies working in DMC to complete their transactions online ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), and Temenos, the software specialist for banking and finance, have announced their intention to collaborate and strengthen FinTech ecosystem in Abu Dhabi, following the unveiling of ADGM’s Innovation Centre at the FinTech Abu Dhabi Summit on October 23. A key aspect of the collaboration will see Temenos provide a sandbox service ...

Emirates Business The National Bank of Ras Al Khaimah (RAKBANK) Group achieved a 9.4% growth in the consolidated net profit of AED 606.3 million for the nine months ended 30 September 2017. The third quarter of 2017 generated a profit of AED 224.8 million, which is a significant increase of 106.7% year on year. Gross Loans and Advances stood at ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum patronized on Tuesday the opening session of the 4th edition World Green Economy Summit, which kicked off at DWTC in Dubai. Dubai Crown Prince HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Civil Aviation ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, launched the tunnel drilling works of the Route 2020 Project, which will add 15 km to the Dubai Metro Red Line from Nakheel Harbour and Tower Station to the site of Expo 2020 Dubai. His Highness also reviewed ...

DUBAI / WAM Dr Zamir Iqbal, Vice President Finance and Chief Financial Officer of the Islamic Development Bank (IDB) rang the market-opening bell on Tuesday to mark the listing of a $1.25-billion Sukuk on Nasdaq Dubai, the region’s international financial exchange. The listing supports the economic development and social advancement goals of IDB, an AAA-rated multilateral institution, whose activities include ...

SHARJAH / WAM The Bank of Sharjah announced its financial results for the nine months ending on September 30. Total assets reached AED33,059 million, an increase of 27 percent over the corresponding September 30, 2016, figure of AED26,128 million. When compared to the December 31, 2016, figure, Total assets increased by 22 percent from AED27,097 million. Net profit for the ...

ABU DHABI / WAM As the UAE progresses steadily with its peaceful nuclear energy programme, the nation continues to work closely with international experts to ensure the highest levels of nuclear quality and safety. This international collaboration has been an essential part of the programme throughout, and is a key feature that all new nuclear energy projects around the world ...

Dubai / Emirates Business EY has announced that it will launch EY wavespace at ‘Area 2071’, within Emirates Towers in Dubai. Opened by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of the Emirate of Dubai, Area 2071 is aimed at becoming a headquarter for futuristic technology companies and start-ups. Abdulaziz ...