DUBAI / WAM Fitch Ratings has reaffirmed Etihad Credit Insurance (ECI), the UAE’s Federal export credit company, with an ‘AA-’ (Very Strong) rating for Insurer Financial Strength (IFS) and Long-Term Issuer Default, both with stable outlooks. This rating reinforces ECI’s financial robustness, pivotal role in the UAE’s economic diversification, and its systemic importance in providing insurance to UAE-based businesses and ...

SHARJAH / WAM HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Emiri Decree No (53) of 2023 concerning the Restructuring of the Board of Trustees of the American University of Sharjah (AUS). The decree stipulates that the AUS Board of Trustees will be chaired by Sheikha Bodour bint Sultan bin Mohammed ...

BLOOMBERG The Reserve Bank of India (RBI) asked lenders to set aside more cash, stepping up measures to drain liquidity in the financial system. Bank stocks fell. The central bank ordered lenders to set aside 10% of their incremental deposits garnered between May 19 and July 28, governor Shaktikanta Das said. The move will remove a little over one trillion ...

DUBAI / WAM The Museum of the Future is set to host a diverse range of talks and interactive learning sessions during the month of August. The forthcoming Future Experts session will delve into topics such as digital health and AI-designed medication, whilst the hands-on workshops offer participants the opportunity to gain a deeper knowledge in a range of sectors ...

ABU DHABI / WAM The upcoming Global Media Congress (GMC) in Abu Dhabi will provide a wonderful opportunity for the Japanese media and government officials in public affairs to expand network with global media and public relations executives of other countries, a top Japanese diplomat told the Emirates News Agency (WAM). Akio Isomata, ambassador of Japan to the UAE, said ...

ABU DHABI / WAM Abu Dhabi Islamic Bank (Adib) announced that it has continued to grow its UK commercial real estate financing portfolio with over £100m in new financing assets in the first six months of this year. Closed deals include providing structured financing for various projects, such as a 343-unit co-living scheme in North Acton, West London, a 400 ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Guillermo Lasso of Ecuador on the occasion of his country’s Independence Day, marked annually on August 10. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness ...

DUBAI / WAM Dubai Customs has stepped up readiness to ensure the smooth movement of homecoming passengers during the post-summer vacation period. The Passenger Operations Department of Dubai Customs has made preparations to facilitate procedures and speed up the flow of arrivals through the Dubai International  Airport (DXB). It increased the number of customs inspectors working on shifts at different ...

DUBAI / WAM Dubai Municipality (DM)’s public parks, neighbourhood parks, lakes, and recreational facilities registered for the first time a record-breaking total of more than 15 million visitors during the first half of 2023. This marks a 50 percent increase in the same period of 2022, which recorded approximately 10 million visitors. Visitors to parks and facilities in Dubai during ...

BLOOMBERG The Bank of Russia announced it will halt purchases of foreign currency on the domestic market for the rest of 2023 in an effort to help the ruble as the currency slumped toward 100 per dollar, its weakest in 16 months. “The decision was made in order to reduce the volatility of financial markets,” the central bank said in ...