News

DUBAI / WAM Expansion projects and new investments are expected to fuel growth within the UAE’s logistics sector over the next five years, according to a recent analysis by the Dubai Chamber of Commerce and Industry. The positive outlook is supported by expectations of strong growth in the country’s air and sea freight markets. The analysis, based on recent data ...

SHARJAH/ WAM The Abu Dhabi Fund for Development (ADFD), a leading national entity for development aid, on Wednesday announced a financial endowment to Dar Zayed for Family Care. The monetary aid will empower the UAE society through community development efforts. A cheque-handing-over ceremony was held at the ADFD’s headquarters and attended by Khalifa Al Qubaisi, Deputy Director-General of ADFD, and ...

DUBAI / Emirates Business Emirates REIT (CEIC) Limited (“Emirates REIT” or the “REIT”), the world’s largest Shari’a compliant Real Estate Investment Trust, managed by Equitativa (Dubai) Limited (“Equitativa Dubai”), reported its unaudited first half financial results for the period ended June 30, 2017. The company recorded a 31% growth in net rental income to 21.5% million. Strong rental income conversion ...

ABU DHABI / WAM The Waste Management Centre – Abu Dhabi, known as Tadweer, has organised a clean-up and awareness campaign at the fishermen’s port in Abu Dhabi, targeting boat owners and residents, in order to preserve the sea and marine wealth. Faris Al Mazrouei, Acting Project Manager of Collection and Transport at the organisation, said, “This campaign is part ...

ABU DHABI / Emirates Business The Dubai Maritime City Authority (DMCA) received high-level delegation from Land and Sea Ports Sector of General Directorate of Residency and Foreigners Affairs led by Brigadier Salah Ahmad Al-Qamzi, Assistant Director General of the Land & Sea Ports Sector, in its headquarters in Dubai. The meeting underscored the importance of an integrated government system to ...

ABU DHABI / WAM Etihad Aviation Group (EAG) is celebrating the third annual Emirati Women’s Day with a series of events to highlight this year’s theme, “Women are Partners in Giving”, in line with the UAE’s 2017 #Year of Giving initiative. Women comprise 36 percent of EAG’s nearly 26,000-strong workforce, many of whom are working alongside men in what are ...

Bloomberg UK companies are getting more worried about the economy and feeling less confident in spending money on hiring or investing, according to a new report. The Recruitment and Employment Confederation said an index of economic conditions has fallen to the lowest this year, with a greater proportion of respondents to its survey saying things are getting worse. Employers are ...

Bloomberg Vanguard Group and T. Rowe Price Group Inc. marked down the value of their shares of Uber Technologies Inc. by as much as 15 percent following a drumbeat of bad news, lawsuits and boardroom battles at the ride-hailing company. Vanguard cut the worth of the shares by 15 percent to $41.46 as of June 30 from the prior quarter, ...

Bloomberg WPP Plc shares had their biggest drop in 17 years after the world’s largest advertising company cut its full-year revenue forecast amid lower spending by customers, in particular consumer-goods manufacturers. The stock fell as much as 13 percent after WPP said like-for-like revenue growth is expected to be between zero and 1 percent in 2017. That’s down from an ...

Bloomberg Surging demand for ‘Made in the Euro Area’ goods is feeding an economy that is creating jobs and finally also seeing price growth accelerate. A Purchasing Managers’ Index for manufacturing rose to 57.4 in August from 56.6 in July, according to IHS Markit. That’s the highest reading in two months and compares with a median estimate for a slowdown ...