GULF TIME Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a cooperation agreement with the International Development Bank (IDB), the largest banking network in Iraq, to support the ‘Xport Xponential’ initiative. By signing the agreement, the bank will join the list of partners of the ‘Xport Xponential’ initiative, launched by ECI in May with the goal of ...

SHARJAH/WAM According to the semi-annual report of the real estate sector in the cities of Sharjah issued by Sharjah Real Estate Registration Department, it was revealed that the trading value of real estate transactions has reached AED 646 million during the first half of 2024 in the Central and Eastern regions of Sharjah, with a growth rate of 17.7 percent ...

DUBAI/WAM The General Directorate of Dubai Civil Defense (DCD) and the Ports, Customs, and Free Zone Corporation (PCFC) have signed a memorandum of understanding (MoU) to strengthen safety norms and protocols. The MoU aims to boost cooperation, promote exchange of expertise and strengthen integration between government entities. The agreement was signed by Major General Jamal bin Aded Al Muhairi, Assistant ...

DUBAI/WAM SANDBOX, the Accelerator programme dedicated to the growth of tech startups, and part of Oraseya Capital, the venture capital investment arm of the Dubai Integrated Economic Zones Authority (DIEZ), today announced the conclusion of its fourth cohort. Seven technology startups received investment from Oraseya Capital, with each startup receiving AED 570,000 (USD 150,000) following their success in the programme, ...

AJMAN/WAM The Free Zones Authority of Ajman has maintained its steadfast efforts this year in bolstering the emirate’s economic diversification strategy and stimulating the investment and trade landscape in the emirate, with an increase of 18 percent year-on-year (YoY) in net profit in H1 2024. The Authority reported a 70 percent growth in the number of companies operating in the ...

ABU DHABI/WAM As part of its efforts to enhance agricultural production and increase its contribution to strengthening national food security in the UAE, the Ministry of Climate Change and Environment (MOCCAE) has announced the launch of a programme to improve the efficiency of agricultural advisory services (agricultural extension). The programme aims to improve the skills of agricultural extension agents or ...

NOUAKCHOTT/WAM On behalf of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, attended the inauguration ceremony of Mohamed Ould Ghazouani, who was re-elected as President of the Islamic Republic of Mauritania after winning presidential elections. Sheikh Shakhboot bin Nahyan conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al ...

LONDON/WAM The Bank of England has cut interest rates for the first time since the onset of the COVID-19 pandemic in early 2020 as inflationary pressures in the economy have eased, Associated Press (AP) reported. In a statement Thursday, the bank said that by a 5-4 margin, its policymaking panel backed a quarter-point reduction in its main interest rate to ...

ABU DHABI/WAM The Central Bank of the UAE (CBUAE) imposed a financial sanction on a bank operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations. The financial sanction is the result of the findings of an examination conducted ...

COPENHAGEN/WAM Extreme heat kills over 175,000 people a year in Europe, where temperatures are rising quicker than the rest of the globe, the World Health Organisation (WHO) said Thursday. In a statement, the WHO Regional Director for Europe Dr. Hans Henri P. Kluge said, “The WHO European Region is the fastest-warming of the six WHO regions, with temperatures rising at ...