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Sharjah Ruler visits Masaar project

SHARJAH/WAM HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, visited the Masaar project, developed by Arada over an area of 19 million square feet, with a total cost of AED9.5 billion. HH Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Chairman of Arada, Prince Khalid bin Alwaleed bin ...

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EDB launches internal AI Wave programme to boost operations

ABU DHABI / WAM Emirates Development Bank (EDB), the key financial engine of economic development and industrial advancement in the UAE, has launched its internal AI Wave programme, a strategic initiative aimed at enhancing AI literacy and adoption across the organisation. In line with the UAE’s Artificial Intelligence Strategy 2031, the programme seeks to support the UAE’s position as a ...

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UAE’s tourism sector continues to boost investments, drive GDP growth

ABU DHABI / WAM The UAE’s tourism sector continues to record remarkable performance in international tourist arrivals and hotel bookings, aligning with the UAE Tourism Strategy 2031, which aims to attract AED100 billion in tourism investments and boost the sector’s contribution to the GDP to AED450 billion by 2031. In 2023, the tourism sector contributed 11.7 percent of the UAE’s ...

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China’s foreign exchange reserves increases 0.98 percent in August

BEIJING / WAM China’s foreign exchange reserves totalled $3.2882 trillion as of the end of August, up by $31.8 billion, or 0.98 percent compared to the end of July, official data showed. Xinhua News Agency quoted the State Administration of Foreign Exchange as saying that China’s foreign exchange reserves have remained stable above $3.2 trillion for nine consecutive months. The ...

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Shanghai launches $1.41b fund to foster future industries

SHANGHAI / WAM The Chinese financial hub of Shanghai announced the establishment of a CN¥10 billion (about $1.41 billion) fund to nurture future industries. Xinhua News Agency quoted the Science and Technology Commission of Shanghai Municipality as saying the fund is fully financed by the Shanghai government and has a term of 15 years that can be extended by an ...

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Korea records 19.9% jump in int’l passengers in Jul-Aug

SEOUL / WAM The Republic of Korea recorded a 19.9 percent year-on-year (YoY) increase in the number of international flight passengers during the summer vacation season, fully recovering to the pre-pandemic level, data showed on Sunday. Offering data compiled by the Korea Airports Corp and the Incheon International Airport Corp, Yonhap News Agency reported that a total of 15.69 million ...

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Dhahi Khalfan recognised as GCC Pioneer Social Work Personality for 2024

DOHA / WAM The Secretariat General of the Gulf Cooperation Council (GCC), honoured Lieutenant General Dhahi Khalfa Tamim, DeputyChief of Police and Public Security in Dubai, as the GCC Pioneer Social Work Personality for 2024, during an award ceremony held in Qatari capital Doha. During the ceremony, which was attended by Jasem Mohamed Al-Budaiwi, Secretary General of the Gulf Cooperation ...

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