News

  Bloomberg Oil traded near $48 a barrel as the market remained volatile after the U.K. last week voted to leave the EU. Futures rose as much as 0.7 percent after declining 1.5 percent earlier in New York, following Friday’s 4.9 percent slump, the biggest drop in four months. The turmoil in financial markets continued on Monday with the pound ...

  Bloomberg New York’s landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums, said a person with knowledge of the plans. The luxury hotel, managed by Hilton Worldwide Holdings Inc., is set to reopen as many as three years ...

  ABU DHABI / WAM The UAE Space Agency signed a Memorandum of Understanding (MoU) with Global technology leader, Lockheed Martin, to launch a comprehensive dual-track space training programme for students and early career professionals in space fundamentals. Designed to prepare tomorrow’s Emirati leaders for future careers in space, the programme will feature a comprehensive four-month space training programme that ...

  Sharjah/ Emirates Business Sharjah Islamic Bank (SIB), voted “Best Islamic Bank in the UAE” at the World Finance Awards 2016, on Sunday announced that more honours have been bestowed as it has received the “First Successful Data Submission Award” from Al Etihad Credit Bureau (AECB). AECB provides world-class services on creditors to help financial institutions and credit providers make ...

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) has listed mandatory convertible bonds worth AED390 million, that were issued by Abu Dhabi National Insurance Company (ADNIC), as shares of the company. ADNIC had issued the bonds at a fixed interest rate of 7.5 percent per annum. ADX said the issuance of the dirham-denominated convertible bonds was part of ...

  AJMAN / WAM The Ajman Chamber of Commerce and Industry (ACCI) organised the 4th edition of its annual Ramadan Diplomatic Forum aimed at enhancing economic cooperation and trade exchange. A number of ambassadors, consuls-general and representatives of business offices from different Arab and other countries attended the forum held at the Asateer Tent, Atlantis The Palm, in Dubai. Mohammed ...

  Dubai / WAM The Emirates Nuclear Energy Corporation (ENEC) and its operating subsidiary, Nawah Energy Company (Nawah), commemorated the move to new headquarters in Masdar City with an inaugural ceremony attended by the top management and employees from across both companies. The move to Masdar City has a clear synergy for ENEC’s mission and vision to deliver safe, clean and ...

  Abu Dhabi / WAM Abu Dhabi General Services Company, Musanada, said that it has completed all the works related to the headquarters of the National Rehabilitation Centre (NRC) at Shakhbout City, as part of its efforts to realise the vision of His Highness President Sheikh Khalifa bin Zayed Al Nahyan, and to implement the directions of His Highness Sheikh Mohamed ...

  RAS AL KHAIMAH / Emirates Business Under the patronage of HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras al-Khaimah, the UAE Chemical Society will host the 18th International Conference of the Union of Arab Chemists from March 26-28 at Jazirat Al Hamra, with Arab and international participation. The UAE Chemical Society won the ...

  ABU DHABI / WAM Abu Dhabi Airports Company on Sunday said it has geared up for the summer season with innovative passenger processing systems, reading libraries and moonlight check-in at Abu Dhabi International Airport (AUH) to keep travelers comfortable and make their journeys more enjoyable. Acting COO of Abu Dhabi Airports, Mohammed Al Katheeri, said Abu Dhabi International Airport remains ...