Bloomberg Nakheel PJSC, the developer of Dubai’s palm-shaped islands, repaid an Islamic bond, bringing an end to a debt restructuring saga that pushed the emirate to the brink of default in 2009. The Dubai government-owned company transferred funds to agent Deutsche Bank AG yesterday to cover a 4.4 billion-dirham ($1.2 billion) sukuk maturing this month, Chairman Ali Rashid Lootah ...

  Abu Dhabi / WAM Senaat, a leading industrial investment holding company in the UAE, has announced a 6 percent increase in net profit and 2 percent increase in EBITDA for the first half of this year despite a challenging business environment, compared to the second half of 2015. After a challenging 2015, the group’s EBITDA remained steady at AED946 million ...

  Dubai / WAM Smartworld and The Kernel have announced the launch of UAE’s first-of-its-kind ‘Cyber Security Centre’, which will train UAE nationals in cyber security and provide round-the-clock advanced security monitoring along with cyber threat management to companies across the government and private sector in the UAE. A strategic partnership for setting up the centre was signed between the two ...

  Sharjah / WAM Sharjah Business Women Council (SBWC), an affiliate of NAMA Women Advancement Establishment, has launched a new wellness programme entitled, ‘Health is Key to Success’. The initiative, which is being conducted in conjunction with the University Hospital Sharjah, UHS, aims to discuss wellbeing-related issues in the workplace and to encourage women to be mindful about the effects of ...

  Dubai / WAM Over 2,000 students have participated in second Summer Innovation Camp of the Telecommunications Regulatory Authority (TRA) which was organised to support an innovation culture and urge youths to find innovative solutions as well as encourage them to speak out on their creative ideas in more than 24 activities. Most activities were focused on technical and IT skills, ...

  Abu Dhabi / WAM The Abu Dhabi Centre for Technical and Vocational Education and Training (ACTVET) on Sunday launched a new cycle of its “Life Skills 2016”, an initiative consisting of 20 training programmes, in collaboration with 19 educational institutions from across the UAE. The move is in line with the recent call of His Highness Sheikh Mohamed bin Zayed ...

  Abu Dhabi / WAM The Tourism Development and Investment Company (TDIC) announced today that the enabling work is under way for Phase 1 of the Saadiyat Lagoons District. The contract was awarded to Western Bainoona Group for General Contracting L.L.C. and covers ground improvements, in addition to site clearance. Officials noted that it is progressing on schedule, to be completed ...

  Dubai / WAM National Bonds, a sharia-compliant savings and investment company in the UAE, has started providing financial planning tips and tools via its website as part of its continued efforts to spread financial literacy among the UAE population and the wider region. Launched by the Financial Advisory unit at National Bonds, the new financial planning section offers valuable insights ...

  Bloomberg The UK should avoid any drastic steps to cut corporate taxes, or similar measures, as it prepares to start talks on leaving the European Union, Swedish Prime Minister Stefan Loefven said. The premier of the largest Nordic economy also said the U.K.’s exit from the 28-nation bloc “shouldn’t take longer than necessary.” “But if the UK wants some ...

  New York / AFP US pharmaceutical giant Pfizer is nearing a deal to buy US biotech firm Medivation, which specializes in cancer treatments, for nearly $14 billion, US media reported. Bloomberg and The Wall Street Journal said the deal could be made public as early as Monday. The Journal, citing people familiar with the matter, said it could be ...