News

  Dubai / WAM Dubai Economy on Thursday announced the adoption of the ‘Global Star Rating System for Services’ for application across commercial establishments in the emirate in the presence of Ohood bint Khalfan Al Roumi, Minister of State for Happiness. The rating system is one of the pioneering initiatives launched by the Government of Dubai in line with the directives ...

  Dubai / WAM The Asset Management Department of Roads and Transport Authority (RTA) briefed a visiting delegation from the Emirates National Oil Company, ENOC, in Dubai on the best practices and processes in asset management. The orientation began with planning for procurement of new assets, processes of monitoring the performance of assets, listing inventory as well as the numbering and ...

  DUBAI / WAM The government of Indonesia on Thursday listed two Sukuk with a total value of US$3 billion on Nasdaq Dubai. The listings raised the total nominal value of all Sukuk listed in Dubai above US$50 billion for the first time, to a global record high of US$52.06 billion. The Indonesian government is the largest issuer on the ...

  Dubai / Emirates Business Marka PJSC (DFM: MARKA), the first retail-focused listed company in the UAE, on Thursday released its audited full year 2016 financial results. For the 12 months ending December 31, 2016, the company reported total revenue of AED 294 million, an increase of 36.89 % over the full year results for 2015. The results revealed an ...

  Dubai / Emirates Business Mashreq Al Islami – the Islamic banking division at Mashreq bank, as part of its ongoing campaign to make a difference to the lives of the underprivileged, has tied up with Emirates Red Crescent to deliver its promise of the ‘contribute for good’ feature on its credit card. The bank, inspired by the UAE’s Year ...

  Dubai / Emirates Business Aster DM Healthcare, the Dubai based healthcare conglomerate, reported a healthy 2016-17 fiscal year led by its continued expansion and acquisition strategy. Over the past year, the group has expanded its network across GCC as well as India. Aster DM Healthcare also announced the closure of US$295 million, comprehensive group-wide credit facility with Axis Bank. ...

  Bloomberg As they guided Europe’s largest oil companies through the industry’s worst slump in two decades, the bosses of Royal Dutch Shell Plc and BP Plc had a simple message for investors: we’ll protect the dividend at all costs. Not everyone is convinced they’ll be able to keep their word. Even after they raised billions of dollars by cutting ...

  Bloomberg With Indonesia’s tax amnesty coming to an end, authorities are now setting their sights on those who didn’t participate and continue to evade taxes. Officials plan to scrutinize credit-card data from banks and compare those with tax reports after the amnesty program uncovered more than $355 billion in previously undeclared assets. While the participants in the amnesty would ...

  Bloomberg China’s central bank will keep a tight rein on money-market rates this year, raising the cost of short-term funds at least twice in moves that will pressure bonds. That’s the consensus view in a survey of 29 fixed-income traders and analysts, with 20 saying that the People’s Bank of China will increase open-market operation rates by 10 basis ...

  Bloomberg The UK economy’s sweet spot is about to be challenged. Prime Minister Theresa May kickstarted the formal withdrawal from the European Union on Wednesday, leaving businesses and investors facing the realities of Brexit and changes to everything from regulation to the movement of workers and goods. There’s also a lack of clarity over whether a good deal — ...