News

  Bloomberg After netting more than $10 billion in revenue from its tax amnesty program, Indonesia may be a step closer to winning a much-coveted investment grade from S&P Global Ratings. The nine-month amnesty drive, which ended on Friday, led citizens to declare 4,866 trillion rupiah ($365 billion) of assets hidden from tax authorities. The success may help Southeast Asia’s ...

  ABU DHABI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum on Sunday visited an exhibition held as part of the 7th Annual Investment Meeting, AIM 2017, a world-leading, emerging markets’ foreign direct investors platform under the theme, “International Investment and Competitiveness”. As many as 250 companies ...

  Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX), announced on Sunday that it has succeeded in achieving a compliance rate of 100 percent regarding the disclosure of the annual financial statements of its listed public joint stock companies within the deadline of 90 days from the end of the fiscal period. All public, and private, listed companies listed ...

  Bloomberg First Gulf Bank PJSC and National Bank of Abu Dhabi PJSC completed a merger to create the United Arab Emirates’ biggest bank with assets of $180 billion, with the new entity to be called First Abu Dhabi Bank. The lender began trading on the Abu Dhabi Securities Exchange on Sunday under the ticker NBAD, with shares up 1.5 ...

  DUBAI / Emirates Business The UAE plastics industry is the fastest growing in the GCC, growing by 24.2% per annum in the past decade. This is according to the ‘GCC Plastic Industry Indicators 2016’ report due to be released at the 8th edition of GPCA PlastiCon by Gulf Petrochemicals and Chemicals Association (GPCA), the go to resource for industry ...

  DUBAI / Emirates Business Imdaad, the GCC’s leading integrated facilities management (FM) company based in Dubai, was recently awarded a three-year contract worth approximately AED 4 million by the iconic Dubai Maritime City, a sole specialized maritime cluster for UAE and GCC and dubbed as world’s first maritime center. Under terms of their agreement, Imdaad will deliver integrated FM ...

  Dubai / WAM The UAE tops investment destinations in the Middle East and North Africa, MENA, region, Sultan bin Saeed Al Mansouri, Minister of Economy stated. Addressing the inaugural session of the Annual Investment Meeting (AIM 2017) which opened in Dubai on Sunday, Sultan Al Mansouri highlighted the recently released UNCTAD’s Global Investment Report 2016 where, the minister added, the ...

  Dubai / WAM A series of meetings held by Minister of Economy Sultan Bin Saeed Al Mansouri with several leading world figures participating in the seventh edition of the Annual Investment Forum, which started in Dubai on Sunday, focussed on areas of common economic interest. Al Mansouri met Rustam Minnikhanov, President of Tatarstan, as well as the Ministers of Economy, ...

  Abu Dhabi / WAM A non-stop schedule of interactive discussions, live performances and exciting events is set to enthral visitors over the course of the closing days of this year’s edition of the Mother of the Nation Festival. Organised by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) and running until April 4, the second edition of the Mother ...

  Sharjah / Emirates Business Sheraa (Sharjah Entrepreneurship Center) – a launch pad for aspiring entrepreneurs in the United Arab Emirates – continues to take strong strides in widening the gamut of industries that benefit from start-ups pioneered by the youth. The center has entered into a strategic alliance with Alserkal Cultural Foundation (ACF) in a bid to promote and ...