Dubai / Emirates Business Dubai-based developer Omniyat has signed a facility agreement with Ajman Bank for AED 500 million. The financing will be used for the construction of an iconic mixed-use project at Dubai Water Canal in Business Bay. The project is a partnership between Omniyat, Saudi’s Rashed Al Rashed Group and Jenina Real Estate Development Company Ltd. — one ...

ABU DHABI / WAM The first unified electronic platform for unmanned aerial vehicles (UAVs) and air vehicles to be used in the UAE for recreational, ser-vice and commercial purposes has been announced. The platform, entitled “Unified Pilot System for Unmanned Aircraft Products and Systems,” is in line with UAE government’s keenness to provide a civil aviation environment and a safe ...

DUBAI / Reuters The English Court of Appeal has refused an application by Dana Gas to appeal a decision allowing fund manager BlackRock to participate in English court proceedings over Dana’s $700 million of sukuk, Dana said on Monday. Dana is refusing to redeem its Islamic bonds on the grounds that they are no longer sharia-compliant and have therefore become ...