ABU DHABI / WAM Dubai Land Department (DLD), represented by its Registration and Real Estate Services sector, has announced the initiation of the partnership it had previously signed with the General Department of Criminal Investigation at Dubai Police for the new smart housing security system. Incorporating many other parties, including major real estate developers in Dubai, the agreement aims to ...

ABU DHABI / WAM Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD) met a high-level Gambian delegation to the UAE, led by President Adama Barrow of Gambia, to discuss development funding and investment opportunities in the African country. Delegates included several Gambian ministers and government officials. The meeting also drew the participation of Fansu Bojang, Ambassador ...

Dubai / Emirates Business The Commercial Bank of Dubai (CBD) recorded a net profit of AED 701 million for the first half of 2019, representing an increase of 25 percent over the same period last year. The strong results have been attributed to broad based business improvement. The operating expenses increased marginally by 1.1 percent primarily on the back of ...

DUBAI / WAM Dubai Multi Commodities Centre (DMCC) Free Zone and Government of Dubai Authority on commodities trade and enterprise, and the Department of Economic Development (DED) have signed a strategic memorandum of understanding (MoU) to collaborate on the licensing of companies in Dubai allowing them to operate within the Free Zone and onshore. The partnership aims to further facilitate ...

CAIRO / WAM During its 50th Ordinary Session, chaired by Saudi Arabia, the Arab Information Ministers Council selected the Emirate of Dubai as the 2020 ‘Capital of Arab Media’. The Council’s decision confirms the UAE’s role in supporting Arab and international media and further recognises Dubai’s prominent media stature. Dr Sultan bin Ahmed Al Jaber, Minister of State and Chairman ...

RAS AL KHAIMAH / WAM Mohamed Ali Musabbeh Al Nuaimi, Chairman of Ras al Khaimah Chamber of Commerce and Industry, and Samata Gifty Bukari, Consul-General of the Republic of Ghana in Dubai, have discussed strengthening bilateral business cooperation and investment opportunities in different sectors. Al Nuaimi underscored the importance of enhancing ties with Ghana, and the private sector in both ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) reported a record half year net profit of AED6.3 billion, up 4 percent year-on-year, driven by revenue growth, coupled with continued cost control and prudent risk management. According to its financial results for the first half ended on June 30, FAB delivered a solid financial performance in the first half of ...

CHANDIGARH / WAM The trade and investment flow between India and the United Arab Emirates are poised to expand rapidly with the launch of a major initiative by DP World, UAE Region. The recent launch of the ‘India-UAE Bridge’ initiative is set to attract both Indian and UAE trade and investments as DP World offers technology-driven end-to-end (e2e) smar-ter trade ...

Bloomberg Mexico’s Petroleos Mexicanos announced plans to reverse a decade and half of declining crude production as early as next year and balance its budget by 2021. The peso and the company’s bonds weakened on skepticism that the strategy to achieve those goals will be effective. Under the presidency of Andres Manuel Lopez Obrador, Pemex will invest 1.95 trillion pesos ...

Bloomberg Suzlon Energy Ltd., which became India’s biggest convertible-note defaulter in 2012, slumped in Mumbai after missing payments on dollar-denominated convertibles. Shares of the stressed wind-turbine maker fell as much as 8.6 perce-nt in trading on Wednesday after missing a deadline to repay $172 million outstanding on the securities. While an earlier debt revamp helped the company’s shares surge in ...