News

Bloomberg UK Brexit Secretary David Davis dismissed as “nonsense” published reports that Prime Minister Theresa May is set to approve paying as much as 50 billion pounds ($64.8 billion) to leave the European Union. May is ready to agree to the total in a bid to kickstart trade talks, but won’t disclose details until after the Conservative Party conference in ...

Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) announced that the authority has made progress in the supply, extension and commissioning of major water transmission networks, with a total length of 46km, and a total cost of AED260 million, in various parts of Dubai. Al Tayer said, “To date, approximately 13km, ...

Dubai / WAM Despite the summer being a typically slow period for markets, the Dubai Gold and Commodities Exchange (DGCX) witnessed an uptick in trading volumes in key products, predominantly driven by increased investor interest in the Exchange’s offerings in Euro Futures, INR Options and Indian Single Stock Futures. The Exchange has strategically used the summer months to roll-out several ...

Abu Dhabi / WAM The Ministry of Education and the Abu Dhabi Education Council (ADEC), on Sunday announced a plan to begin a process to achieve the standardisation of their education systems to support a unified and highly-performing education sector across the nation. The plan will unify the education sector through the development of the Emirati School Model across all ...

Dubai / WAM The future plans for the use of the Expo 2020 Dubai site after it closes its doors in April 2021 will be revealed at CityScape Global 2017, taking place at the Dubai World Trade Centre next week, from September 11-13. The integrated development of the Expo site, post-2021, has been a central part of the planning process ...

MAKKAH / WAM The Official UAE Hajj Mission has distributed 153,000 meals to pilgrims of various nationalities at the holy sites during their Hajj, to honour the memory of the late Sheikh Zayed bin Sultan Al Nahyan. Dr. Mohammed Matar Al Kaabi, Chairman of the General Authority of Islamic Affairs and Endowments and Head of the Official UAE Hajj Mission, ...

Dubai / WAM In his capacity as the Ruler of Dubai, Vice President and Prime Minister, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has issued Law No. 10 of 2017 regarding the Zayed bin Mohammed Family Gathering. Sheikh Mohammed also issued Decree No. 22 of 2017 appointing HRH Princess Haya bint Al Hussein as Chairman of the Board of ...

Dubai / WAM Cases of IT-based frauds are increasing in organisations, raising concern among corporate houses and external key stakeholders on ways to detect and prevent such incidents, as companies have reported significant losses. Companies should hire the “right people with integrity and competency” to detect and prevent fraud, Abdulqader Obaid Ali, President, UAE Internal Audit Association, told CIOMajlis a ...

Dubai / Emirates Business Noor Bank, a leading Shari’a-compliant bank in the UAE, has won the Innovator in Islamic Finance 2017 award in the Process Innovation category from the New York-based Global Finance magazine. The award recognised the bank’s single-risk credit insurance structured finance solution for large corporate relationships. Speaking about the win, Ehsaan Ahmed, Head of GTS and Corporate ...

Dubai / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, Supreme Chairwoman of the Family Development Foundation and President of the Supreme Council for Motherhood and Childhood, launched the Fatima bint Mubarak Volunteering Programme. The programme is the first of its kind and aims to establish the culture of volunteer work and humanitarian giving among women ...