News

  Bloomberg The first increase in base wages in four months is unlikely to offer much relief to the Bank of Japan as it undertakes a review of policies meant to stoke inflation and growth. Average monthly base pay, excluding overtime and bonuses, rose 0.4 percent in July from a year earlier to 241,518 yen ($2,326), the labor ministry said ...

  Bloomberg South Korea’s financial regulator said Hanjin Shipping Co. will seek stay orders in 43 countries to protect its vessels from being seized, after its court receivership filing last week roiled companies’ supply chain before the year-end shopping season. Applications in 10 countries will be made this week and the remainder soon, the Financial Supervisory Commission said in a ...

  SHARJAH / WAM The Sharjah Islamic Bank PJSC (SIB) successfully issued a US$500 million sukuk (Islamic finance bond) in international capital markets, eliciting an outstanding response from investors and garnering orders to the tune of US$1.6 billion, thus resulting in being 3.2 times over-subscribed. With a maturity of five years, the sukuk was priced at a spread of 185 ...

  Dubai / WAM Schneider Electric, a global leader in energy management and automation, ranked Masdar Institute among its top 12 finalists in the sixth edition of its globally-renowned, annual ‘Go Green in the City’ student competition. Launched in 2011, ‘Go Green in the City’ is a platform that invites business and engineering students (second-year undergraduate or higher) to develop ...

  Dubai / WAM The UAE cabinet on Sunday adopted the National Space Policy of the UAE, the most important element in the national plan to develop the space sector. The Space Policy is rudimentary for driving the entire sector forward within the framework of the UAE National Agenda, part of the UAE Vision 2021. The UAE is working towards a stable ...

  Sharjah / WAM Sharjah Media Centre (SMC) invited submissions from journalists and media professionals to compete in the new ‘Best Press Report/Feature’ category of the fourth edition of the Sharjah Government Communication Award (SGCA) submissions for which are open from October 1 to January 20. Tariq Saeed Allay, SMC Director, said that through its numerous initiatives, the SMC seeks to ...

Abu Dhabi / WAM The Ministry of Human Resources and Emiratisation has declared a public holiday from Sunday, September 11th till Tuesday, September 13, for private sector employees on the occasion of Eid Al Adha. It added that the employees in private firms will enjoy the three-day paid holiday. According to Article No. 74 of the Federal Law No.8 of 1980 ...

  Ras Al Khaimah / Emirates Business RAK Properties PJSC, Ras Al Khaimah’s biggest property developer listed on the Abu Dhabi Stock Exchange, has reported increased profits during the first half of this year, with revenues in excess of AED147 million between the months of January to June 2016. The reported half-year figures, announced ahead of the upcoming Cityscape Global ...

  Abu Dhabi / Emirates Business Etihad Airways Medical Centre welcomed more than 120 medical professionals as well as international medical experts to the annual Aviation Health Conference, under the theme “Ophthalmology and Colour Vision in Aviation,” taking place from September 3 – 4 in Abu Dhabi. The conference is under the patronage of the UAE General Civil Aviation Authority ...

  Dubai / Emirates Business Dubai Land Department’s (DLD) Transactions Report, issued by its Real Estate Research and Studies Department, announced that the total amount of real estate transactions recorded in the Emirate in the first eight months of the current year reached a total of AED 158.541 billion, achieved through 38,838 sales, mortgages and other transactions. Commenting on the ...