DUBAI / WAM DP World, the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) signed an agreement to implement the first phase of development of an integrated industrial and residential zone in Sokhna, Egypt. The agreement, which establishes a clear timetable of actions required to execute the first phase of the project spanning 30 square kilometres, was signed ...

Abu DHABI / Reuters A final decision on a new system of setting Emirates Interbank Offered Rates (EIBOR), which will be more efficient and more closely based on real data from the market, is expected to be taken this year, the UAE central bank governor said on Tuesday. “It’s ongoing and we’re having final discussions with the banks,” Mubarak Rashid ...

Dubai / Emirate Business Damac Properties has awarded a construction contract worth approximately AED600 million to China State Construction Engineering Corporation (CSCEC) for the construction of one of the towers at Aykon City, Damac’s premiere luxury master development on Sheikh Zayed Road overlooking Dubai Canal. The contract covers main works construction for the tower which consists of serviced apartments within ...