Abu Dhabi / WAM Government-led policy initiatives and investments, improved growth prospects in trading partners, and preparation to host Expo 2020 Dubai are providing increased private sector credit and investment in Dubai. As a result, real GDP growth rates in the short to medium term are projected to reach 2.1 percent, 3.8 percent and 2.8 percent, in the years 2019, ...

Bloomberg Bahrain-based Gulf International Bank converted its Saudi operation into a locally incorporated bank with 7.5 billion riyals ($2 billion) capi- tal, as the lender looks to boost its presence in the kingdom. The bank’s Saudi arm will be owned equally by GIB, as the Bahraini lender is known, and Saudi Arabia’s Public Investment Fund, according to a statement. Abdulla ...

DUBAI / WAM UAE stocks maintained their upward movement and gained around AED6.2 billion in market cap at the end of the Sunday session, driven by a spree of selective purchases targeting blue chips and positive quarterly statements announced by the leading listed companies. Amidst the overall bullish sentiments, the general index of the Abu Dhabi Securities Exchange closed at ...

Emirates Business To the tune of AED39 billion in cash dividends have been paid out by listed Emirati companies for their stockholders for the year 2018. The generous cash distributions, which earn the UAE companies the lead over other Middle East-based firms in terms of dividend payouts, are reflective of the high-yield stocks traded in the country’s two main bourses ...

DUBAI / WAM The UAE and Saudi Arabia have announced a joint initiative to support the brotherly people of Sudan. The initiative will see the delivery of $3 billion in assistance to Sudan. The assistance bundle entails $500 million deposit into Sudan’s central bank to strengthen the country’s liquidity and monetary reserves. The remaining amount will be dedicated to support ...

ABU DHABI / WAM The United Arab Emirates has condemned the terrorist bombings that targeted churches and hotels in Colombo, Sri Lanka. In a statement on Sunday, the Ministry of Foreign Affairs and International Cooperation (MoFAIC), said that the UAE affirmed its firm stance against all forms of violence, terrorism and extremism, targeting all without distinction between religion and race. ...

Abu Dhabi / WAM Abu Dhabi General Services Company (Musanada), announced the completion of the ‘Z35 Roads and Infrastructure Project’ at Mohamed bin Zayed City. The project works, valued at AED280.7 million, included the construction of internal roads and infrastructure for residential plots, in collaboration with Abu Dhabi City Municipality (ADM), and abiding by the highest international standards and specifications. ...

DUBAI / WAM Jebel Ali Customs Centres carried out around 766,000 customs transactions and made 30 seizures during the first quarter of 2019. The strategic customs management, which performs all customs operations of Jebel Ali Port; the largest marine terminal in the Middle East and the flagship facility of DP World’s portfolio of over 65 marine terminals across six continents, ...

Abu Dhabi / Emirates Business To further enhance international participation for the upcoming edition of the Abu Dhabi International Boat Show (ADIBS 2019), the team at Abu Dhabi National Exhibitions Company (Adnec) participated in two key events in the international boat and fishing show calendar in Japan and the United States. ADIBS 2019 is set to run at the Abu ...

Abu Dhabi / WAM “Morocco in Abu Dhabi 2019” has welcomed more than 4,000 visitors in the first three days of its opening at Abu Dhabi National Exhibition Centre. The event, which will run until April 30, entertains its fans with live activities in art, music, traditional handicrafts, culinary arts, and fashion, reflecting the rich and original Moroccan heritage. The ...