ABU DHABI / WAM The total value of three-month deposits in UAE banks amounted to AED532bn in July, 2019, a 6.2 percent growth of AED31.22bn as compared to the preceding month. According to the CBUAE’s figures, three-months deposits, which have been steadily growing over the recent months, account for 55.3 percent of total deposits held by UAE banks, driven by ...

ABU DHABI / WAM The Emirates Water and Electricity Company (EWEC), signed an AED3.27 billion water purchase agreement, with ACWA Power, a Saudi-based developer, investor and operator of power generation and desalinated water plants. The deal will enable the development of over 900,000 cubic metres per day desalination facility in Taweelah – sufficient to meet the demand of water for ...

BEIJING / WAM A total of 362 deals worth valued at $26 billion have been signed at the fourth China-Arab States Expo, reported the People’s Daily. The expos was held in northwest China’s Ningxia Hui Autonomous Region, with Chinese President Xi Jinping relaying a congratulatory message during the opening ceremony of the event. According to People’s Daily, “Over 2,900 regional ...