News

ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) recently announced the expansion of its strategic partnership model, as well as the more active management of its portfolio of assets. Following the launch of this new initiative, Dr Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of ADNOC met last week with both potential and ...

ABU DHABI / WAM The Abu Dhabi Fund for Development (ADFD) participated at the official cornerstone-laying ceremony of Guinea’s National Dispatch Centre in the presence of Alpha Conde, President of Guinea, and Mamady Youla, Prime Minister of Guinea. ADFD allocated US$18 million for the construction and operation of the centre from the US$90 million Abu Dhabi Government grant earmarked for ...

Dubai / Emirates Business The Dubai Gold and Commodities Exchange (DGCX) and its CCP subsidiary, Dubai Commodities Clearing Corporation (DCCC) has been recognised as a remote Exchange and Clearing House by the Financial Services Regulatory Authority (FSRA), the regulatory authority for the Abu Dhabi Global Market (ADGM), enabling ADGM companies to access its trading and clearing platforms. The recognition status ...

ABU DHABI / WAM The Abu Dhabi Quality and Conformity Council (QCC) carried out a series of inspections in the first half of 2017 to verify the accuracy of legal measuring instruments and pre-packaged products used in the Abu Dhabi market and ensure their compliance with the applicable standards. As part of the drive, the council inspected over the past ...

Dubai / Emirates Business The Middle East and North Africa (Mena) region is embarking on an unprecedented programme to develop renewable energy, with more than 67GW of clean energy projects at various stages of the design and study stage, according to Renewable Energy in the Mena Region 2017, a new report from business intelligence service MEED. MEED estimates that this ...

SHARJAH / WAM In a move focused on pushing the innovation agenda in the UAE, a delegation from Sharjah Department of Statistics and Community Development (DSCD) visited the Mohammed bin Rashid Centre for Government Innovation (MBRCGI). During the visit, the DSCD was able to find out more about the best practices adopted by the centre to develop the business environment ...

Dubai / Emirates Business The Supreme Legislation Committee (SLC) has revealed the released an updated version of its strategic plan of the year 2019, which incorporates all the key guidelines and standards aimed at addressing and meeting all the goals and objectives of Dubai, its government agencies and stakeholders concerned with the development and implementation of legislation in the emirate. ...

ABU DHABI / WAM The UAE Banks Federation (UBF) has announced that it has secured the support of the Central Bank for its initiative that aims to develop a unified framework to handle customer complaints. The UBF is a professional body representing 48 member banks operating in the UAE. “The proposed framework was developed as part of UBF’s continued efforts ...

DUBAI / WAM Under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, the Arab Youth Centre has announced its organising of ‘Arab Youth Start-up Marketplace’ (AYSM), a unique annual event that sheds light on creative Arab youth start-ups. As part of centre’s initiatives, the AYSM seeks to establish a platform ...

Bloomberg OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend. Oil has slumped into a bear market and inventories remain stubbornly high despite a deal between OPEC and 10 countries outside the group to cut output. The ...