News

  REUTERS EgyptAir says a passenger has been detained after storming the pilot’s cockpit on a flight carrying 150 passengers. The Friday incident took place aboard charter airline CairoAir 462, which took off from the Saudi capital, Riyadh, to Alexandria’s Borg el-Arab airport, EgyptAir said. The passenger was not armed. “The crew checked if the passenger was not carrying whatever ...

  Bloomberg OPEC’s crude production climbed to a record last month as increased output from Gulf members made up for persisting losses in Nigeria and Libya, according to a Bloomberg survey. Supplies from the Organization of Petroleum Exporting Countries rose by 120,000 barrels a day to average 33.69 million a day in August amid increases by Iran, Iraq and Kuwait, ...

  Dubai / Reuters The Nasdaq Dubai exchange began trading single-stock futures on shares in some of the UAE’s biggest companies on Thursday, a step towards drawing fresh money into UAE equity markets. Nasdaq Dubai’s standardised, exchange-listed futures, or agreements to buy or sell shares at an agreed price on a future date, are cheaper to trade and more transparent, ...

  AJMAN / WAM In a bid to inform students about the Emirate of Ajman’s famous touristic destinations and increase awareness of local tourism, the Ajman Tourism Development Department (ATDD) organised city sightseeing tours for students of Ajman University. The two-day tour coincides with the opening of the new academic year, and a total of 400 students visited the emirate’s ...

  Dubai / WAM Volume on the Dubai Gold and Commodities Exchange (DGCX) touched close to 13 million contracts, growing 43% over the same period last year to record the highest ever volume for this period in over a decade. This year, DGCX recorded an average 75,516 contracts a day, valued at around US$1.70bn. The exchange also registered an impressive ...

  SEOUL / WAM Defence Expo Korea, which opens next week, is a key platform for Caracal to showcase its latest firearms, which utilise the latest concepts in tactical requirements, ergonomic design and cutting-edge manufacturing techniques in addition to offering the best technical solutions in the field of modern firearms. “Through our participation in Defence Expo Korea, we are proud ...

  Dubai / Emirates Business Forbes Middle East held an event to recognize the prolonged success of the region’s real estate sector. The event for the first time ranked the Arab world’s Top 100 real estate companies and consultants and celebrated business leaders and the vision of top enterprises and their contribution to the economic development of the Arab world. ...

  Dubai / Emirates Business Leading financial institution, Mashreq, appointed Basker Rangachari as its new head of Marketing & Customer Experience. With more than 29 years of diverse leadership experience across consumer banking, payments services, private equity, retail and consulting, Basker will be responsible for driving the bank’s brand and marketing strategies, customer communications, analytics and digital marketing. Prior to ...

  Dubai / WAM The Roads and Transport Authority (RTA) received a string of brilliant ideas thanks to the initiative launched by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, entitled, ‘Mohammed bin Rashid Smart Majlis Initiative’. 4,077 ideas and improvement observations have been received so far, and 4,040 cases have been ...

  Abu Dhabi / WAM The Abu Dhabi Tourism Development and Investment Company (TDIC) announced the appointment of ART Marine company as operator of its marinas located at the Eastern Mangroves complex and at Marsa Al Bateen. The Eastern Mangroves Marina has 30 berths that can house boats and yachts from 8 to 33 metres long, and Marsa Al Bateen has ...