News

  Bloomberg ValueAct Capital Management, the activist fund run by Jeffrey Ubben, plans to return $1.25 billion to investors in May because of concerns that company valuations are expensive. San Francisco-based ValueAct, which manages more than $16 billion, explained its decision to return capital in a letter last week to investors that was viewed by Bloomberg News. It said that ...

  DUBAI / WAM Dubai has opened its doors to the second generation of world-class construction projects with the launch of the Al Wasl Plaza Project, the main hub of Expo 2020 Dubai. Al Wasl Plaza is a dynamic, urban, cultural, environmental, tourism, educational and recreational destination for future generations, which will be completed by the end of 2019. It ...

  DUBAI / WAM Nasdaq Dubai has added NBAD (now known as First Abu Dhabi Bank), Dubai Financial Market (DFM) and Dubai Investments (DIC) to its equity futures market, raising the number of leading UAE companies on which futures can be traded to 12. Market making services on futures contracts on the three additional companies are provided by SHUAA Capital, ...

  ABU DHABI / WAM The Abu Dhabi Urban Planning Council (UPC) has unveiled a major community initiative for the Year of Giving 2017 in partnership with 10 of the UAE’s leading property businesses. The ‘CSR Year of Giving Initiative’ will see the UPC work with real estate developers to establish new community amenities such as mosques, parks, playgrounds and ...

  Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, stressed that the UAE foreign aid represents a global model to follow in terms of humanitarian and development work. This is not just for being one of the largest international donors compared to its gross national income (GNI) for the fourth ...

  Abu Dhabi / WAM Jebel Ali Free Zone (Jafza), a DP World Company and the UAE’s flagship trade and logistics hub for the Middle East region and Africa, and the China National Petroleum Corporation (CNPC), the largest integrated energy company in China, have signed an agreement to establish CNPC’s regional headquarters in Jafza to serve its customers in the Middle ...

  Dubai / WAM The Public Transport Agency, Roads and Transport Authority (RTA), is set to broaden and improve its bus network in Dubai by opening 11 new bus routes including 10 metro feeder service, and improve 13 other routes starting from April 15. The move is intended to bring more happiness to public transport users in general and bus riders ...

  Abu Dhabi / WAM ADNOC Distribution is investing AED750 million in a fuel depot located at the new Midfield Terminal of Abu Dhabi International Airport, according to Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC Distribution. Speaking to Emirates News Agency (WAM) Al Rashdi said, “ADNOC Distribution produces 14 million tonnes of jet fuel in order to meet ...

  Dubai / WAM The vital role played by the Commercial Compliance and Consumer Protection (CCCP) sector in Dubai Economy, the emirate’s economic development department, in protecting intellectual property (IP) has won praise from US-based tech giant Apple Inc. Edmund Wilkie, Senior Counsel, IP Enforcement, Europe, Middle East, India and Africa (EMEIA) at Apple Europe Limited recently honoured officials and Intellectual ...

  Dubai / WAM The 5th edition of Schneider Electric Innovation Summit was opened on Tuesday to discuss the latest technologies, trends and innovations, transforming the world of energy Opened by Managing Director & CEO, Dubai Electricity & Water Authority, DEWA, Saeed Mohamed Al Tayer, the event brings together top industry leaders from across the region at Atlantis the Palm Hotel ...