News

  Abu Dhabi / WAM Reflecting the UAE’s keenness to enhance its competitive economic edge and maintain an investment-friendly environment, the Government of Abu Dhabi is participating in this year’s edition of the Annual Investment Meeting (AIM 2017) which was launched on Sunday at the Dubai World Trade Centre and will run until April 4. Held under the theme “International Investment, ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) signed an MoU with Dubai Health Authority (DHA) to adopt the e-Dirham system and e-Dirham cards as a means of paying for government services provided by DHA. The signing ceremony took place at DHA headquarters in Dubai. Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector at MoF, stressed ...

  Dubai / WAM Dubai Government’s Department of Finance (DOF) has officially launched the Government Service Prices Portal. Through this launch, the DOF has introduced the public, government entities and private sector companies, to the tariffs and fines approved by the Dubai government. The portal lists 7,962 price lines accredited by 23 government entities in Dubai distributed into six sectors, in ...

  Abu Dhabi /Emirates Business Saudi Arabian Oil Company (Saudi Aramco) on Sunday signed two separate Memorandums of Understanding (MoUs) with Abu Dhabi National Oil Company (ADNOC) and with Masdar, Abu Dhabi’s renewable energy Company, covering energy and technology collaboration, renewables, and carbon management. Under the terms of the MoU between ADNOC and Saudi Aramco, the two companies will collaborate ...

  Sharjah / Emirates Business One of the well-established names in the local jewellery industry, Salem Al Shueibi Jewellery, secured the coveted Platinum Sponsorship of the region’s most awaited spring edition of the biannual MidEast Watch & Jewellery Show. Billed as the largest and most exclusive showcase of gold and diamond jewellery in the region, the 42nd MidEast Watch & ...

  Abu Dhabi / Emirates Business Peter Baumgartner, Chief Executive Officer of Etihad Airways, and Mohammad Al Bulooki, Executive Vice President Commercial, joined Scott Fancher, Boeing Senior Vice President, at the integrated seawater and agriculture system facility within Masdar City to check on the project’s progress this week. The facility is a world first, demonstrating the use of seawater and ...

  Bloomberg Banks are marketing what could be one of Canada’s first nonprime residential mortgage-backed securities deals since the global financial crisis. National Bank of Canada has held discussions with investors about a bond backed by a pool of residential mortgages just below prime-credit quality, Derek Norton, MCAP Corp.’s chief executive officer, said. The so-called alt-A mortgages are originated by ...

  Reuters As Southern Co. opens a review of its troubled nuclear reactors following a bankruptcy filing by contractor Westinghouse Electric Co., the Trump administration has 8.3 billion reasons to be worried. Southern is financing the reactors with $8.3 billion in federal loan guarantees approved under President Barack Obama’s initiative to build the first new nuclear plants in the US ...

  Bloomberg When it comes to petroleum, the US is the land of plenty. The year 2017 started off with a bang for American oil companies as total crude and petroleum products exports rose to a record 5.69 million barrels a day in January, government data show. A surplus of fuels means exports are available all the way down the ...

  Bloomberg Principal Financial Group Inc. accused the managers of Liongate Capital Management LLP of hiding investments with Bernie Madoff while negotiating to sell half of their London hedge fund to Principal. Founders Randall Dillard and Jeff Holland, and Head of Research Benjamin Funk sold the stake in March 2013 without disclosing secret investments in the largest of several Madoff ...