News

ABU DHABI / Reuters Telecoms group Etisalat terminated a management agreement with its Nigerian arm and given the business time to phase out the Etisalat brand in Nigeria, the chief executive of Etisalat International said on Monday. Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate a $1.2 billion loan failed. ...

DUBAI / Emirates Business The improvements in the overall business conditions in Dubai’s non-oil private sector gathered steam in June, with the seasonally adjusted Emirates NBD Dubai Economy Tracker Index – a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy – registering at 56.5, up from May’s seven-month low of 55.0. ...

ABU DHABI / WAM The Masdar Institute of Science and Technology has announced that its CubeSat development programme, MYSAT-1, has completed its critical design review (CDR) marking a key milest- one for the University’s space systems and technology programme. The programme has been designed with support from Al Yah Satellite Communications Company, Yahsat, and global aerospace manufacturer and defense industry ...

DUBAI / WAM A UAE trade mission, headed by Sultan bin Saeed Al Mansouri, Minister of Economy, recently concluded a successful trade mission to the Italian Riviera, Monaco and southern France, visiting Monte Carlo and Nice, to facilitate economic cooperation and explore trade and investment opportunities in the two cities. The trade mission, which was organised by Dubai Chamber of ...

Abu Dhabi / Emirates Business Five students from the UAE have been shortlisted to represent the nation on an international stage, the International Physics Olympiad (IPhO). IPhO is an annual international physics competition for secondary school students. The process of shortlisting students for the big stage is done by IOF (International Olympiad Foundation), the only authorized body in UAE to ...

DUBAI / WAM Gulf Navigation Holding has posted a net profit of AED8.8 million ($2.4 million) in the first quarter, Q1, of 2017, an increase of 39 percent compared to AED6.3 million ($1.7 million) in the same period last year. The Dubai-based company, listed on the Dubai Financial Market under the ticker ‘GULFNAV’, said in an announcement that it has ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (ADNOC) announced the expansion of its partnership model to span the group’s entire value chain as well as the more active management of its portfolio of assets. The new initiative builds on ADNOC’s flexible operating model and its 2030 growth strategy, enabling it to unlock and maximise significant value from ...

Dubai / WAM Emirates NBD announced that it will provide clearing member services to its subsidiary, Emirates NBD Securities, making the brokerage firm, the first trading member to sign with the bank. The announcement follows Securities and Commodities Authority (SCA), UAE’s approval of Emirates NBD as its first general clearing member providing clearing and settlement services to trading participants of ...

Dubai / WAM The Roads and Transport Authority (RTA) in Dubai is gearing up for hosting the inaugural International Road Federation (IRF) Middle East and North Africa (MENA) Regional Congress and Exhibition on October 29, 31. A number of specialists and experts from around the globe will take part in the event to share expertise and engage in discussions about ...

SHARJAH / WAM The Emirates Publishers Association (EPA) and the Sharjah Book Authority (SBA) recently convened a meeting to explore ways to develop the publishing industry in the UAE and the Arab world, as well as strengthen the presence of Emirati publishers in the regional and global publishing arenas. The meeting aligns with both entities’ long-term strategy to enhance collaboration ...