News

  MADRID / AP Spain wants to raise 500 million euros ($528 million) from new environmental taxes as part of a package of fiscal measures to meet the European Union’s budget deficit goals. The new environmental taxes are part of the revised budgetary plan Spain has submitted to the European Commission. The plan says the new taxes will target a ...

  Bloomberg The Federal Trade Commission is seeking to further question Volkswagen AG’s US officials about whether evidence including mobile phones was destroyed amid the probe of diesel vehicles rigged to cheat emissions tests. “In the context of the massive scandal at the center of this case, 23 lost or bricked phones is a bright red flag, especially when they ...

ABU DHABI / WAM Foreign and institutional investments at the Abu Dhabi Securities Exchange (ADX) totalled AED7.9 billion by the end of November 2016. Net flow of foreign investments in the last six months, from June to November, reached almost AED850 million. Data from the exchange shows that institutional investments in the last eleven months reached AED4.6 billion, whereas investments ...

  ABU DHABI / WAM Abdullah Al Saleh, Under- Secretary of the Ministry of Economy for Foreign Trade and Industry, recently met Yoshio Kishimoto, Director-General of International Affairs at the Japanese Ministry of Economy, Trade and Industry, and his accompanying delegation at the Ministry’s office in Abu Dhabi. The meeting highlighted developments in economic and trade cooperation between the two ...

  MONTREAL / WAM In a message on the International Civil Aviation Day, the head of the United Nations civil aviation agency underlined the socio-economic importance and contribution of air travel and aviation. According to ICAO, aviation operations generate more than $2.7 trillion in global gross domestic product (GDP) and provide employment for more than 63.5 million people worldwide. Fang ...

  DUBAI / WAM The Islamic Development Bank (IDB) listed a $1.25 billion Sukuk on Thursday on Nasdaq Dubai, the region’s international financial exchange. It is the seventh Sukuk listing on the exchange by the IDB, making it the largest Sukuk issuer on Nasdaq Dubai at 8.55 billion US dollars. Altogether, Nasdaq Dubai has 56 Sukuk listings totalling US$43.96 billion, ...

  DUBAI / WAM Foreign investors purchased AED 2.5 billion worth of shares on Dubai Financial Market (DFM) and sold AED 2.4 billion over the week, DFM said on Thursday. Net foreign investment on the market reached AED 148.5 million, as aggregate buy. Value of shares bought by foreigner investors comprised 43.9 per cent of the total value of stocks ...

  ABU DHABI / WAM The Ministry of Finance (MoF) in collaboration with the Arab Monetary Fund held a workshop on modern technologies applied to financial services, its impact on the banking sector, and the challenges faced by Arab regulatory authorities to establish a suitable environment to adopt these new technologies. The workshop was held in the presence of Younis ...

  DUBAI / WAM The Telecommunications Regulatory Authority (TRA) recently hosted a workshop on ‘Implementing the Business Continuity Management Programme in Emergencies’, for the purpose of ensuring business continuity in the Information and Communications Technology sector, in emergency and crisis situations. The workshop saw the attendance of ICT sector operators in addition to nominees from the local emergency and crisis ...

  Abu Dhabi / Emirates Business Abu Dhabi Systems and Information Center (ADSIC), organized the Abu Dhabi Government Contact Centre Forum at the Rosewood Hotel – Abu Dhabi. The event, aimed at discussing the latest achievements, updates and future plans of the Contact Center that have been designed to achieve customer service distinction and happiness. The Forum kicked off its ...