News

  Abu Dhabi / WAM Pursuant to Circular No. 03 for 2016, issued on April 3, regarding the uploading of employee Emirates ID numbers in the Federal Financial System, an essential reference for all financial transactions and procedures at the national level, the Ministry of Finance (MoF) announced that it will begin implementation of the circular, and will withhold July salaries ...

  Abu Dhabi / Emirates Business Union National Bank (UNB), one of the leading banks based in the United Arab Emirates, recorded a profit of AED 922 million for the first half of 2016 down by 22% year-on-year. The profit for the second quarter of 2016 of AED 472 million was up by 5% compared to the first quarter of ...

  Dubai / Emirates Business A10 Networks , a leader in application networking and security, on Thursday announced that the company has signed a Value-Added Distributor (VAD) partnership with Shifra, that will enable the distributor’s regional channel partners to offer A10 Networks’ technology solutions to enterprise customers across the Middle East. Shifra will help A10 build on the company’s success ...

  Dubai / Emirates Business Kia Motors Corporation announced on Thursday its June 2016 global sales figures (export sales, domestic sales and sales from overseas plants) for passenger cars, recreational vehicles (RVs) and commercial vehicles, recording a total of 268,886 units sold. This figure represents an 11.4% year-on-year increase compared to the same month of 2015. In June, Kia posted ...

  Abu Dhabi / Emirates Business Fun Nation, a series of exciting and engaging workshops and performances will entertain guests of all ages at du Forum, Yas Island from July 14 to August 6 as part of Abu Summer Season 2016. An exhilarating range of sports, fashion, gaming and cooking events will be held under one roof at this all-new ...

  Dallas / AFP Funerals were held for two of the five officers killed in last week’s sniper shooting in Dallas, one day after President Barack Obama addressed a public memorial service honoring the slain police. Onlookers paused to pay their respects to Lorne Ahrens of the Dallas Police Department and Brent Thompson, an officer with Dallas Area Rapid Transit, as ...

  Bloomberg Britain’s new Brexit Czar argued this week that negotiations on the U.K.’s withdrawal from the European Union could begin around the end of this year, with December 2018 a probable date for departure. Appointed late on Wednesday by Prime Minister Theresa May, David Davis will now be Secretary of State for Exiting the European Union having campaigned to ...

  Bloomberg Philip Hammond, the U.K.’s newly appointed chancellor of the exchequer, said the vote to leave the European Union had “rattled confidence” and that he will take “whatever measures” needed to shore up the British economy. “The number one challenge is to stabilize the economy, send signals of confidence about the future, the plans we have for the future ...

  Bloomberg Germany’s government bonds lagged behind their higher-yielding peers as speculation major central banks will inject another dose of monetary stimulus curbed demand for the safest assets. Italian 10-year securities rose for a second day, while the extra yield Spanish bonds offer over German debt narrowed to the least since March. The split in the market came before an ...

  Bloomberg J Sainsbury Plc was awarded £69 million ($91 million) by a London judge following a long-running dispute over fees charged on card transactions with Mastercard Inc. Mastercard charges on U.K. credit and debit card transactions restricted competition, according to a Competition and Appeal Tribunal judgment published on Thursday. The judgment is the first in a series of claims ...