News

  Dubai / WAM National Bonds Corporation, the unique sharia-compliant investments company in the UAE licensed by the UAE Central Bank and owned by the Investment Corporation of Dubai, Dubai Government’s principal investment arm, on Wednesday announced that its consistent message of encouraging a savings discipline has resulted in a staggering 75% increase in its regular savers in the UAE in ...

  Dubai / WAM Siemens AG announced that it is to set up its global headquarters for airports, cargo and ports logistics in Dubai. The company will use the site of Expo 2020 Dubai as the future location for this business after the next World Expo ends in April 2021. The German company’s decision to locate some of its key businesses ...

  Abu Dhabi / WAM The ZonesCorp announced that it has signed 4 new deals with companies to build facilities in Al Ain Industrial City, AAIC. The new projects represent a combined investment of approximately AED51 million and cover a total area of nearly 60,000sqm. After finalising deals with ZonesCorp at the end of 2016 and Q1 2017, construction of the ...

  Dubai / WAM The Low-income Families Committee of Dar Al Ber Society helped 120 eligible local government employees in the emirate of Umm Al Qaiwain to perform Umrah at its expense. The religious trip, organised in collaboration with the UAQ Council for Youth and Cooperation and 13 other government entities, is one of the12 trips sponsored by Dar Al Ber ...

  Dubai / Emirates Business Hotels developed in and around the region’s shopping malls can expect to post an Average Daily Rate (ADR) 25% higher than hotels that are not co-located with a major retail development. The findings are published in a report by Colliers International, released ahead of Arabian Travel Market 2017, which takes place April, 24-27 at Dubai ...

  Abu Dhabi / Emirates Business Abu Dhabi Financial Group (ADFG) is launching Etihad REIT, a Shariah-compliant real estate investment trust (REIT). The REIT comprises a seed portfolio of 10 income producing assets situated in the UAE. Etihad REIT expects to raise further capital through an initial public offering (IPO) on a stock exchange in the UAE at an appropriate ...

  Abu Dhabi / Emirates Business Etihad’s team at Abu Dhabi International Airport has welcomed 157 talented Emirati nationals from across the UAE after they graduated from the Etihad UAE National Development Foundation Programme (NDFP). Women make up 107 of the graduates and 50 are men. Within the group, 96 were trainees with Etihad Airport Services (EAS) and 61 trained ...

  Reuters The world’s top oil exporter Saudi Arabia has stepped up sales of light oil to Asia by offering buyers more cargoes on top of the full contract volumes it will provide for May, industry sources with knowledge of the matter said on Wednesday. The offers will add to a glut of light oil supplies in Asia, increasing competition ...

  LONDON / REUTERS Royal Dutch Shell was aware that some of the payments it made to Nigeria for rights to an oilfield under a 2011 deal would go to a company associated with former Nigerian oil minister and convicted money launderer Dan Etete, it said in a statement to Reuters. Shell spokesman Andy Norman said the group “always knew” ...

  Bloomberg Anil Agarwal has sealed the merger of his mining and energy businesses in India, creating a BHP Billiton Ltd.-like resources conglomerate, even as a recent investment in Anglo American Plc raises questions about how far the billionaire’s ambitions stretch. Vedanta Ltd. combined with unit Cairn India Ltd and fixed April 27 as the record date for determining the ...