DUBAI / WAM Union Properties on Monday announced that it has successfully reached an agreement with Emirates NBD for the full restructuring of its outstanding AED946 million debt with the bank along with payment of the initial amount as per the new terms. This agreement with Emirates NBD, as the main creditor of Union Properties, will substantially improve the debt ...

Ajman / WAM Ajman’s Department of Economic Development (DED) received four new ISO certificates, namely ISO 22301 for Business Continuity, ISO 45001 – Occupational Health & Safety, ISO 14001 – Environmental Management System and PAS 99 Integrated Management Systems. On this occasion, Ali Eissa Al Nuaimi, Director-General of DED, said in a statement that DED seeks to develop working systems, ...

Dubai / WAM Nasdaq and Dubai Gold & Commodities Exchange (DGCX) on Monday announced a major market technology agreement for Nasdaq to provide DGCX with a full suite of integrated marketplace solutions. The marketplace solutions, delivered via the Nasdaq Financial Framework, include multi-asset trading and real time clearing capabilities, pre-trade risk management, as well as market intelligence, market surveillance and ...

Adm Michael M Gilday, the chief of naval operations, sent a bracing message to his admirals and chief petty officers in July after he toured the aftermath of the horrific fire aboard the USS Bonhomme Richard in San Diego. “My gut tells me our Sailors met that challenge head on,” Gilday wrote to his senior staff. His advice: “Focus on ...

Prior to the pandemic, the wealthy never travelled so well. With the economy on solid ground and financial assets soaring to new highs, investment in the travel industry boomed. According to the World Travel and Tourism Council, one in 10 workers worldwide, or 330 million in all, owed their jobs to the travel and tourism industry. In the five years ...

Investors who expected that the July jobs report would compel congressional officials to avoid a collapse in negotiations on a new coronavirus relief bill were met instead with data that seems likely to entrench Democrats and Republicans in their positions. Just consider the headline number: US payrolls increased by 1.76 million in July. On the one hand, that beat estimates ...

Like the rest of us, the world’s finance industry is still wrestling with the huge uncertainty of a pandemic that doesn’t yet have an end. The sector’s reputation took a battering after the financial crisis, and it’s too early to say how things will go this time. One area in the spotlight is insurance, with myriad claims being pursued by ...

Bloomberg The grand opening of the Mall of San Juan was a celebration of Puerto Rico’s rosy future. There was confetti, a bomba band and roving politicians, including the governor and the mayor, glad-handing under the atrium’s blue-tinged skylight. “There was so much enthusiasm,” says Alberto Baco Bague, the secretary of economic development and commerce, who was in attendance that ...

Bloomberg Front-line aviation safety specialists for the US government say they fear industry concerns come first, and that senior managers aren’t held accountable for pro-business decisions, according to the results of an employee survey. Surveys and focus groups of Federal Aviation Administration employees conducted in the wake of two fatal crashes of the Boeing Co 737 Max found widespread concern ...

Bloomberg The UK aerospace industry plans to create a 1 billion-pound ($1.3 billion) fund to prop up suppliers, the Sunday Times reported, without saying where it got the information. Trade association ADS Group has drafted proposals aimed at helping small businesses hurt by production cuts at planemakers as the coronavirus crisis suppresses demand for travel, according to the newspaper. The ...