Dubai / Emirates Business Dubai Islamic Bank (DIB) has announced that it has awarded the contract to Engineering Contracting Company (ECC L.L.C.) valued at AED687 million to construct the Badr Project Phase 1. The project is part of a self-contained residential community that consists of five distinct zones with apartment buildings as well as a number of villas and other ...

Ritika Sharma / Emirates Business Abu Dhabi Ports is celebrating its tenth anniversary this year and the occasion proclaims more than the number of years of its existence. The master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate, has a long list of achievements over the last ten years. However, for the company’s management, this ...

DUBAI / EMIRATES BUSINESS A trendy lifestyle at ‘your own price’ is taking tangible shape as Nshama unveiled the first-look of the townhouses, ready to welcome its residents in 2017, at Town Square, Dubai’s one-of-its-kind smartly designed, stylish green neighbourhood. At a special preview, Nshama revealed Zahra Townhouses, which have been launched to overwhelming investor response. The thoughtfully designed homes ...

Dubai / EMIRATES BUSINESS Dubai Electricity and Water Authority’s (DEWA’s) Women’s Committee has launched the ‘Happier, Healthier, and Prettier Employee’ initiative for its female staff. The initiative was launched at the Women’s Committee’s meeting at DEWA’s main office in Zabeel East. It was chaired by Khawla Al Mehairi, Vice President of Marketing & Corporate Communications at DEWA, and Chairperson of ...

Abu Dhabi / WAM Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and development company, on Thursday announced its full year audited financial and operational results for 2015, showing that the revenues increased to AED 34.1 billion as profit remains stable at AED1.2 billion. Group CEO and Managing Director, Khaldoon Khalifa Al Mubarak, said: “Mubadala managed through the significant macroeconomic ...

ABU DHABI / WAM Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade and Industry, discussed with Gao Yan, Vice Minister of Commerce of the People’s Republic of China, and the delegation accompanying him, ways of enhancing bilateral relations in various economic sectors and investment opportunities between the two countries during the coming phase. During ...

Washington / AFP Facing slowing growth in the global economy, the International Monetary Fund (IMF) called on Thursday for policies that support research and development to promote innovation. “Fiscal policy can play an important role in stimulating innovation through its effects on research and development (R&D), entrepreneurship, and technology transfer,” the IMF said in a report ahead of its twice-yearly meeting ...

SHARJAH / WAM Bank of Sharjah, reported its financial results for the year ended December 31, 2015, showing a continued growth of its loan book while maintaining the solid structure of its balance sheet, with high levels of both liquidity and equity. Total assets reached AED 27,587 million, an increase of 10 percent over the corresponding December 31, 2014 figure ...

Dubai / WAM Dubai Electricity and Water Authority (DEWA) has developed its use of drone technology as part of its Sirb (Arabic for fleet) initiative, which contains a fleet of high-end drones used to support Dubai’s infrastructure and contribute to providing efficient and easy-to-use services. The initiative supports national efforts to use modern technologies to serve humanity. DEWA has improved ...

Ritika Sharma / emirates business Cybercrime is the second most reported economic crime affecting 30 percent of the Middle East organisations, indicates ‘Global Economic Crime Survey 2016: Middle East’ report by pwc. In the wake of this alarming situation, Dubai Customs and General Directorate of Dubai Police Al Ameen Service organised a workshop themed around cyber extortion and the effect ...