ABU DHABI / WAM The UAE Banks Federation (UBF), on Sunday announced that it has launched two new technical committees (Fintech and Consumer Protection) and three advisory committees (Compliance, Risk, and Information Security) to promote the growth and transformation of the UAE banking sector. As the official representative body of the UAE banking industry, the federation introduced the new committees ...

Bloomberg Russia is ready to cooperate with its Opec+ partners to support the world oil market, even though it’s comfortable with current crude prices, President Vladimir Putin said. The Organisation of the Petroleum Exporting Countries (Opec)+ mechanism “has already established itself as an effective tool in ensuring long-term stability in global energy markets,” Putin told a meeting with ministers in ...

Dubai / WAM Nasdaq Dubai welcomed the listing of a $2 billion sukuk by the Islamic Development Bank (IsDB), a multilateral lender which finances development across its 57 member countries. The five-year sukuk is the largest by value to be listed on the exchange by IsDB, Nasdaq Dubai said in a press statement on Sunday. The bank said it was ...

Dubai / WAM The Dubai International Financial Centre (DIFC), and Mashreq on Sunday announced the region’s first blockchain data sharing platform, now in production, to support licenced businesses and corporations instantly opening digital bank accounts. Continuing the association formed in July 2019 between DIFC and Mashreq, an initiative, Know Your Customer (KYC), along with the DIFC incubated FinTech firm, norbloc, ...

Bloomberg China’s economy could be heading for a worse-than-expected first-quarter contraction after the country’s manufacturing sector reported activity was at a record low in February due to the coronavirus outbreak. The manufacturing purchasing managers’ index (PMI) plunged to 35.7 in February from 50 the previous month, according to data released by the National Bureau of Statistics on Saturday. Even before ...

Sharjah / Emirates Business Exploring the many exciting facets of the field of physics, over 500 high school students and their science teachers from 21 schools around the United Arab Emirates took part in FUNtastic FZX 2020, held at American University of Sharjah (AUS) on February 27. The popular physics fair aims to connect students with the university and share ...

DUBAI / WAM More than 1,500 people took part in a walk in Dubai to raise awareness of rare diseases and their impact on patients and their families, on the occasion of Rare Disease Day, observed on last day of February each year. The event – held under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance ...

ABU DHABI / WAM According to statistics from the National Economic Register of the Ministry of Economy, the number of economic licences issued in the UAE grew to 678,573 in February 2020, compared to 676,256 in January. This increase highlights the ongoing economic growth around the country. The Central Bank of the UAE noted that the country’s macroeconomic growth rate ...

DUBAI / WAM The Japanese Consul-General in Dubai, Dr. Akima Umezawa, has visited the Dubai Electricity and Water Authority (Dewa) headquarters to explore potential collaboration opportunities. During the visit, Dr. Umezawa met with Saeed Mohammed Al Tayer, Dewa Managing Director and CEO, who highlighted the importance of enhancing strategic collaboration between Dewa and Japanese companies in water, renewable and clean ...

DUBAI / WAM Dubai Silicon Oasis Authority (DSOA) on Sunday signed a strategic agreement with Dubai Chamber of Commerce and Industry to support start-ups and entrepreneurs in Dubai. The agreement was signed between Dubai Technology Entrepreneur Campus, Dtec, the largest tech hub and coworking space in the Mena region, wholly owned by DSOA, and Dubai Startup Hub, an initiative of ...