News

ABU DHABI / WAM The total trading value of foreign investments in Abu Dhabi Securities Exchange (ADX) hit AED26.9 billion during H1, 2017, accounting for 47.3 percent of ADX total trading during the same period, which amounted to around AED56.5 billion, reflecting foreign investors’ growing confidence in the country’s economy. Foreign non-Arab investors topped the list with AED15.9 billion of ...

ABU DHABI / Agencies First Abu Dhabi Bank (FAB), created by a merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) on Wednesday reported a net profit of AED2.56 billion for the second quarter. This is the first combined results of Abu Dhabi’s two biggest banks, FGB and NBAD, after their merger in April to create ...

BLOOMBERG Abu Dhabi Ports is considering an initial public offering (IPO), joining a growing list of state entities in the United Arab Emirates seeking to sell shares, according to people familiar with the matter. The government-run ports operator has met investment banks in recent weeks and may decide on financial advisers soon, the people said, asking not to be identified ...

ABU DHABI / WAM Notifying the customers and the market of the actual changes to the lifting schedule provides transparency and credibility of oil production cut compliance, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy has stated. The minister made the statements on his Twitter on Wednesday, expressing hope that Abu Dhabi National Oil Company’s (ADNOC) decision to cut ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has emphasised the importance of creating a new generation of young leaders who are capable of shaping the future of the UAE and the world in various fields. His Highness Sheikh Mohammed bin Rashid made the remarks on ...

DUBAI / WAM Twenty developers, designers and entrepreneurs came up with mobile solutions inspired by the themes of Opportunity, Mobility and Sustainability at the SAP & Expo 2020 Dubai Hackathon, with the winning team wowing the judges with their app to enhance the visitor experience. The SAP, Expo 2020 Dubai’s Innovative Enterprise Software Partner, challenged participants at the hackathon, a ...

Abu Dhabi / Emirates Business Etisalat Group announced its consolidated financial statements for H1 ending June 30, 2017. The revenues amounted to AED 15.4 billion representing 3% increase year over year, while net profit amounted to AED 4.2 billion representing 7% increase year over year. The subscriber base reached 12.4 million representing Year over Year increase of 2%. Group consolidated ...

JAKARTA / WAM A visit paid recently by a delegation representing the Federation of UAE Chambers of Commerce and Industry to Indonesia has resulted in tangible results that will reflect positively on the growing partnerships between the business communities in the two countries. The visit included meetings with representatives of the public and private sectors in the Asian country where ...

Dubai / Emirates Business Dubai Culture & Arts Authority (Dubai Culture), the Emirate’s dedicated entity for culture, arts and heritage, announced the next range of creative children’s workshops in its ongoing ‘SIKKA Around The City’ initiative, which is part of the Authority’s expanded ‘SIKKA Art Fair’ programme that aims to expose new segments of the community to the joys of ...

Ras Al Khaimah / Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA), which develops the emirate’s tourism infrastructure and initiates its domestic and overseas promotions, has partnered RAK Centre for Statistics & Studies to develop detailed analysis of the economic impact local, regional and international visitor arrivals play on the emirate’s gross domestic product (GDP). The MoU between t ...