News

Abu Dhabi / WAM UAE stock markets are back in the green on Wednesday after profit-booking over the past two days, amidst upbeat sentiments comparatively with the past few days. The marked improvement came after shares plummeted to mouthwatering levels, spurring a buying spree by institutions and individuals alike who mostly targeted banking and real estate equities. ADX General Index ...

Bloomberg The total value of monetary deposits at the UAE CentralBank amounted to AED123 billion during H1 2017, AED122.95 billion of which are in banknotes and AED50 million in coins. On a month-over-month basis, the deposits increased by 20.5 percent, rising from AED102 billion in May to AED123 billion in June, according to Central Bank statistics released recently. The month ...

ABU DHABI / WAM Abu Dhabi Urban Planning Council (UPC) is encouraging government officials, urban planners and developers to ‘push the boundaries of what is possible’ during a series of workshops on the Hudayriat Island Master Plan. The UPC held its second of five stakeholder workshops, which helped shape the concept master plan set to be submitted by the end ...

Dubai / Emirates Business As many as 801 construction projects with a combined estimated value of $32 billion (AED117.44 billion) are currently in tendering state in the GCC’s urban construction sector which will serve as a strong pipeline of projects to be awarded in the near future, according to BNC Network, the largest and most comprehensive project research and intelligence ...

AJMAN / WAM HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and President of the Executive Council, praised the directives of Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to establish the world’s first Government Accelerators. Sheikh Ammar made this statement while viewing a presentation by ...

DUBAI / WAM Dubai Science Park (DSP), a member of TECOM Group, and Al Jalila Foundation, signed a Memorandum of understanding (MoU) to support Dubai’sscientific community. Marwan Abdulaziz Janahi, Executive Director at DSP and Dr. Abdulkareem Sultan Al Olama, Chief Executive Officer of Al Jalila Foundation signed the MoU. Under the MoU, both parties will collaborate to mutually promote the ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has directed the Emirates Red Crescent (ERC) to launch a campaign on the occasion of the Eid al-Adha in various Yemeni governorates to support families of martyrs and those wounded. The campaign was launched ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) received a high-level American delegation headed by Paul Malik, US Consul-General in Dubai, as part of a series of high level visits by international delegates and organisations to DEWA. Al Tayer welcomed the delegation, noting the importance of such meetings in enhancing cooperation ...

ABU DHABI / WAM The National Central Cooling Company (Tabreed) announced the successful completion of the investment by ENGIE, the global energy company, to acquire 40 percent of the shares in Tabreed for approximately AED2.8 billion. Headquartered in France, ENGIE is a multinational energy leader and expert operator in the business of electricity, natural gas and energy services with a ...

Dubai / Emirates Business Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has been recognised as the ‘Islamic Personal Finance Provider of the Year’ by YallaCompare, the leading financial comparison site in the Middle East, for its bi-annual banking awards programme. Emirates Islamic has been a leading player in the Personal Finance category, offering its customers ...