News

  Sharjah / WAM Sharjah Islamic Bank (SIB) plans to issue convertible sukuk equivalent to 10 per cent of the lender’s capital, it said on Sunday. Funds raised through the sale will be used by Islamic endowments selected by the government of Sharjah. The bank also authorised a capital increase to around AED2.66 billion, it said in an emailed press ...

  Dubai / WAM Dubai Land Department (DLD) will provide support for the Middle East Facilities Management Conference (MEFMA) through its strategic partnership with the Middle East Facilities Management Association (MEFMA). The sixth edition of the conference will take place from March 13-14 at The Address Hotel, Dubai Marina. DLD has confirmed that a delegation of senior management representatives will ...

  Dubai / WAM The Dubai Chamber of Commerce and Industry (DCCI), has finalised its preparations for its upcoming trade mission to India, which will take place from March 14-17, as part of its Global Business Forum series roadshow. The trade delegation will include dignitaries and senior businessmen from the UAE who will visit Mumbai and Ahmedabad, and meet key stakeholders ...

  Abu Dhabi / WAM The Global Manufacturing and Industrialisation Summit (GMIS) announced a strategic partnership with Jebel Ali Free Zone, Jafza, the UAE’s flagship trade and logistics hub, in a move aimed at accelerating economic growth and boosting trade, especially through manufacturing. The decision to name Jafza, a free zone set up in 1985, as a Strategic Partner for ...

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced that foreign investors’ purchases in February 2017 reached AED2.306 billion, representing 44.8 percent of total trades, whereas their sales stood at AED2.158 billion, representing 41.9 percent of total trades. In its statement, ADX added, “Subsequently, the net foreign investment in February reached AED148 million, whereas institutional investments in February ...

  ABU DHABI / WAM The Federal National Council (FNC) will hold the ninth and 10th meetings of the Second Ordinary Session of the 16th Legislative Chapter on Tuesday and Wednesday, during which members will discuss the federal draft law on taxation procedures. Under the chair of Dr Amal Abdullah Al Qubaisi, Speaker of the FNC, members will put two questions ...

  Dubai / WAM The Telecommunications Regulatory Authorities (TRA) on Sunday hosted the 1st Forum on Data Management in Dubai. The forum is being hosted in collaboration with the International Telecommunications Union (ITU) under the slogan, “Transforming data into value, expanding the IoT potential with a special focus on smart cities”. The forum welcomed participation from a wide group of experts ...

  Sharjah / WAM The seventh Pink Caravan Ride will be hosting the ‘Pink Regatta’, a boat parade on the turquoise waters of the Arabian Gulf along the shores of The Palm, Dubai, a day-long event for actively involving citizens and residents of Dubai in generating awareness of breast cancer. Several boat owners and sailing enthusiasts have signed up in support ...

  Bloomberg China’s economy has shown signs of improvement in the first two months of the year with little risk of a hard landing, senior Chinese officials said. China’s macroeconomy stabilized in the beginning of 2017, Ning Jizhe, head of the National Bureau of Statistics, said at the sidelines of the annual legislature meeting in Beijing. Industrial output in January ...

  Bloomberg Billionaire Elon Musk just bet he can solve a looming energy crisis in Australia within 100 days by deploying Tesla Inc. technology to plug a supply gap that’s caused power blackouts. In a conversation on Twitter with Australian tech billionaire Mike Cannon-Brookes, Musk backed up an earlier commitment Tesla made, reported by the Australian Financial Review, to deploy ...