News

ABU DHABI / WAM ADNOC Distribution has announced the temporary closure of Embassy Area service station in Abu Dhabi. The service station will remain closed from March 28 for 6 weeks for conversion to SMART services as well as the execution of facility upgrade works. Khalid Hadi, Vice President, Marketing and Corporate Communication Division at ADNOC Distribution, said, “The temporary ...

SHARJAH / Emirates Business A new Sharjah Museums Department (SMD) initiative is encouraging local school students to bury themselves in books this year at its line-up of museum libraries. Coinciding with UAE reads initiative, ‘Read at Sharjah Museums’ is a year-long scheme held to mark the UAE leadership’s recent declaration of 2016 as Year of Reading. Hundreds of school students ...

Abu Dhabi / Emirates Business Abu Dhabi Securities Exchange (ADX) announced on Sunday that it has distributed the first cash dividends on behalf of one of its listed companies through distributing the dividends of the shareholders of the Union National Bank (UNB) on bank’s behalf. Thus, the Union National Bank became the first listed company in the United Arab Emirates ...

Abu Dhabi / WAM Abu Dhabi Airports reported an 8.7% increase in passenger traffic at Abu Dhabi International Airport (AUH), for February 2016, compared to the same month last year. A total of 1,863,942 people traveled through AUH last month, exceeding February 2015’s figure of 1,715,540. “We continue to see year on year growth in passenger numbers traveling through Abu ...

Abu Dhabi / WAM Abu Dhabi Municipality (ADM) on Sunday handed over around 60 percent of a batch of communal houses, recently ordered by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for nationals. Last week, HH Sheikh Mohamed ordered the handing over of 1,463 houses ...

Abu Dhabi / WAM Abu Dhabi Islamic Bank (ADIB), a leading financial services group, has acted as the exclusive sell side advisor to Egon Oldendorff GmbH & Co. KG, part of the Oldendorff Group, the bank announced. Oldendorff is one of the world’s largest dry-bulk operators, ADIB acted on the full sale of its subsidiary Emirates Ship Investment Company LLC. ...

Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received Arun Kumar, Assistant Secretary of Commerce for Global Markets and Director-General of the US and Foreign Commercial Service, and Vinay Vijay Singh, Senior Advisor for Global Markets, at his office to discuss trade and economic relations. The meeting is one of a ...

Dubai / Emirates Business Al Hamra Real Estate Development (AHRED), the leading and largest developer in Ras Al Khaimah, has unveiled details of a new partnership with Abu Dhabi Commercial Bank (ADCB), a first for the property developer, to provide mortgage facilities for its expanding portfolio of projects. The newly inked agreement will see ADCB offer mortgage provision for the ...

San Juan / AP Puerto Rican Gov. Alejandro Garcia Padilla warned late on Saturday that he would challenge in federal courts and before the “community of nations” any law that he said would nullify the U.S. territory’s Constitution by concentrating government power in a body not elected by the people. Garcia Padilla was reacting to a draft of a U.S. ...

Bloomberg The U.S. is asking Novartis AG to provide records of about 80,000 “sham” events in which the government says doctors were wined and dined so they would prescribe the company’s cardiovascular drugs to their patients. The Swiss drugmaker and the Manhattan U.S. Attorney are engaged in a whistle-blower lawsuit that alleges Novartis provided illegal kickbacks to health-care providers through ...