ABU DHABI / WAM First Abu Dhabi Bank (FAB), has been recognised as the ‘Best Trade Finance Provider in UAE’ by Global Finance at the Bankers Association for Finance and Trade Annual Meeting 2020. The bank received the award at a ceremony in Frankfurt. The awards recognise finance providers that have delivered excellent trade finance solutions by anticipating evolving trends, ...

Abu Dhabi / WAM The Abu Dhabi General Services Company (Musanada), handed over the Bani Yas Court project to the Abu Dhabi Judicial Department (ADJD), stating that it constructed the court building over an area of 7,725 square metres at a total cost of approximately AED54 million. The company said that the works were completed as per the construction plan ...

Ajman / Emirates Business Ajman Free Zone (AFZ) signed a Memorandum of Understanding (MoU) with Mashreq Bank, the oldest privately-owned bank in the UAE. The agreement, spanning two years, will entail any business that chooses to set up in Ajman Free Zone being recommended the services of Mashreq Bank during the registration or licensing process. This agreement also applies to ...

DAVOS / WAM The UAE on Wednesday announced that it will co-host the world’s biggest humanitarian event on 26th September 2020. Dubai will host one of ten simultaneous live events organised by Global Citizen, the international organisation that aims to build a movement to end extreme poverty by 2030. The news was announced as part of the UAE delegation’s participation ...

FUJAIRAH / WAM The Fujairah Statistics Centre began a survey to measure the level of coexistence in Fujairah, which is the first such survey in the country that aims to measure community tolerance and coexistence and encourage honest national community dialogue. The survey is part of a partnership between the Federal Competitiveness and Statistics Authority and participating local centres. Dr ...

DUBAI / WAM Shuaa Capital on Wednesday announced that along with other parties, it had successfully priced and issued GFH Financial Group’s five-year sukuk at $300 million. The sale of the sukuk, held on January 21, was more than twice oversubscribed, with orders of over $700 million. Mustafa Kheriba, Deputy CEO and Group Head of Asset Management at Shuaa, commented, ...

ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec) has achieved 75 million safe work hours at the Barakah Nuclear Energy Plant, reflecting Enec’s commitment to the highest standards of safety, security and quality in the development of the UAE Peaceful Nuclear Energy Programme. Mohamed Al Hammadi, Chief Executive Officer of Enec, Mark Reddemann, Chief Executive Officer of Nawah ...

Abu Dhabi / WAM The Abu Dhabi Investment Office (ADIO) on Wednesday announced AED60 million of investment in the latest batch of startups and fund managers applying to its Ventures Fund. The recipients, Securrency, TruKKer, Sarwa, YACOB and Okadoc, are innovation-focused companies that are either based in Abu Dhabi or expanding into the emirate. ADIO also signed its first investment ...

SHARJAH / WAM Sheikh Khalid bin Essam Al Qasimi, Chairman of Department of Civil Aviation Sharjah, on Wednesday inaugurated the 16th International Education Show 2020 (IES 2020), which is being organised and hosted by the Expo Centre Sharjah, with the support of the Sharjah Chamber of Commerce and Industry (SCCI) and the Ministry of Education and Sharjah Education Private Authority. ...

Bloomberg Mitsubishi Motors Corp and Denso Corp had their German operations probed by investigators over allegations that they may be involved in equipping diesel engines with devices to cheat on emissions tests. Police and prosecutors began investigating 10 sites across Germany, Nadja Niesen, a spokeswoman for Frankfurt prosecutors, wrote in an emailed statement. A spokeswoman for Denso, an auto parts ...