News

  DUBAI / Reuters Iran has sent some ‘surplus’ heavy water to Oman, an Iranian nuclear spokesman was quoted as saying, after a UN atomic watchdog said Tehran was over a soft limit set under its nuclear deal with major powers. “In view of the progress of talks with several foreign firms and countries to purchase heavy water, some quantities ...

  CAIRO / Emirates Business Egypt remains the star performer among its peers in the region rising 5 percent over last week and breaking the 11,000 level for the first time since 2008. The rise is backed by positive investor sentiment regarding the IMF support of much needed funding. Stocks continue to rise after the currency declined by more than ...

Riyadh / Reuters Embattled Saudi construction firm Mohammad Al Mojil Group (MMG) said it has written directly to Deputy Crown Prince Mohammed bin Salman explaining that it may not be able to continue operating. It was unclear if the privately owned company was seeking financial or other assistance from the government. In a short statement via the stock exchange on ...

  Riyadh / Emirates Business Marriott International, Inc. (NASDAQ: MAR) announced the opening of the Courtyard by Marriott Riyadh Olaya located in the capital city of Riyadh, Saudi Arabia. The contemporary new Courtyard by Marriott Riyadh Olaya rises proudly along the popular Olaya district in Riyadh and provides a new level of functionality and comfort to travelers within the Kingdom. ...

  Dubai / Emirates Business InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has announced the opening of InterContinental Doha Residences under a management agreement with Gulf Hotels Company WLL. Located on Doha’s longest natural private beach, each spacious residence offers tranquil living in distinctive surroundings. With a design that merges Arabian and European sophistication, InterContinental Doha ...

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the world’s first government accelerators on Sunday. The first group of government accelerators will focus on five ministries: the Ministry of Interior, Ministry of Economy, Ministry of Human Resources and Emiratisation, Ministry of Climate Change and ...

  ABU DHABI / WAM Abu Dhabi Terminals (ADT) set a new record by handling 5 million containers, representing a milestone for Khalifa Port Container Terminal (KPCT). The record was achieved while serving the CMA CGM, a vessel belonging to ADT’s long-time customer CMA CGM Pegasus. The new throughput milestone follows terminal operator ADT’s success in the first half of ...

  Dubai / WAM The Board of Directors of the UAE Banks Federation (UBF) met on Sunday in Dubai to review the latest developments in the banking sector. Presided over by Abdul Aziz Al Ghurair, Chairman of UBF, the meeting discussed the federation’s future plans and actions that will contribute to accelerating the growth of the UAE banking sector in ...

  Abu Dhabi / EMIRATES BUSINESS Abu Dhabi International Airport (AUH) welcomed 1.9 million passengers in October. More than twenty million passengers have passed through the airport so far this year. Total passengers numbered 1,903,556 in October 2016. The number of travelers between January 1 and October 31 reached 20,432,279 — an increase of 5.4% on the 19,393,074 for the ...

  Bloomberg No country on the planet is better prepared to pay for its aging population than Denmark. But a nation whose pension industry has been ahead of the curve for decades is now bracing for a fundamental shift that most people probably aren’t prepared for, according to the financial regulator. Jesper Berg, the director general of the Financial Supervisory ...