RAS AL-KHAIMAH / WAM Ras Al-Khaimah Port, one of the emirate’s five port facilities, now established a new free zone area that comes under the licence jurisdiction of RAK Maritime City Freezone Authority. Commenting on the new facility, Captain Clifford Brand, CEO of Ras al-Khaimah Ports, said, “We believe that introducing a free zone alternative within RAK Port will …

  DUBAI / WAM Dubai Islamic Bank (DIB) on Monday announced its results for the period ended September 30, with a group net profit increased to AED3,011mn, up 7% compared with AED2,801mn for the same period in 2015. Mohammed Ibrahim Al Shaibani, Chairman of Dubai Islamic Bank, said, “Despite somewhat difficult times for the global economy, the UAE economy and …

  SHARJAH / WAM Sharjah Investment and Development Authority (Shurooq) announced that it will finalise the new extension of Al Majaz Waterfront, a tourist destination in Sharjah, by the end of this year, at a total cost of AED 35 million. The phase two extension project, that is currently 90 percent complete, will add 53,000 square feet to the total …