News

Abu Dhabi / Emirates Business Etisalat and du on Wednesday announced ‘Taawun’, a joint initiative to support the long-term vision of the government in developing smart infrastructure and giving customers an opportunity to select their operator of choice for telecom services. It initially includes more than 50 projects and will serve as the model for all new greenfield areas in ...

Dubai / WAM Dubai Islamic Bank (DIB) has announced the distribution of a 45% cash dividend for 2015, a 12.5% increase from the previous year, following the conclusion of its Annual General Meeting (AGM). The assembly approved the bank’s 2015 financial statements. For the 12 months ended December 31, 2015, DIB reported a net profit of AED3.83 billion, a significant ...

RITIKA SHARMA Emirates Business A whopping US$1 billion in startup investment funds will be present at the STEP conference, which will host more than 200 start ups and exhibitors, organisers announced. STEP, the largest tech and interactive gathering in the Middle East to be held in Dubai next month, plans to host more than 5,000 industry leaders and entrepreneurs from ...

Alkesh Sharma Emirates Business Credit cards could be like double-edged swords. They can come to your aid in dire financial situations, but can also land you in soup if used injudiciously. And prudence calls for being aware. It is this awareness that is lacking here! Known globally for the wide circulation of plastic money, residents in the UAE have a ...

Dubai / WAM Hani Rashid Al Hamli, Secretary-General of the Dubai Economic Council (DEC) has said that Dubai has adopted an “innovation” approach for its development agenda, and there are several institutions in Dubai that are actively working to stoke this trend and turn the city towards being at the forefront of the world’s economies in innovation. He also said ...

Sharjah / WAM Sharjah Investment and Development Authority (Shurooq) is preparing to launch the 10th edition of Sharjah Food Festival. It will take place from March 31 to April 9 in four locations across Sharjah: Al Qasba, Al Majaz Waterfront, Al Montazah and Heart of Sharjah. This year, the festival will include live cooking shows, cookery competitions, entertainment and activities ...

LONDON / Bloomberg A company controlled by the Shaw Foundation, the philanthropic arm of the late Hong Kong movie mogul Run Run Shaw’s empire, agreed to acquire an office building in London’s main financial district from Malaysia’s second-largest pension fund, according to three people familiar with the matter. The foundation, which is being advised by Knight Frank, will pay Kumpulan ...

BEIJING / Bloomberg After getting burned by the bursting of China’s stock-market bubble, Liu Yihui is seeking salvation from the country’s latest investment mania: big-city properties. The 35-year-old civil engineer dumped his equity holdings after losing 40 percent last year, using the proceeds to buy a 5 million yuan ($763,464) apartment in Shenzhen. Prices in the southern business hub have ...

Abu Dhabi / Emirates Business While reports from developers and analysts indicate Dubai’s real estate market is down, experts on the ground are confirming transactions are up and the state of the market is in line with expectations. Figures released by Allsopp & Allsopp, one of the UAE’s leading property agents, show transactions for 2016 are up 18 per cent ...

Abu Dhabi / Emirates Business Themed ‘Innovative approaches for a safe nation’, the upcoming ‘Crises and Emergencies Management Conference (CEMC)’ with a host of local, regional and international experts and specialists in attendance, will discuss critical aspects and sensitive topics that are closely linked to events and developments witnessed on the Arab and international stages. Being organised under the patronage ...