DUBAI / WAM United Arab Bank (UAB) announced the successful conclusion of its $185 million syn- dicated term financing facilities signed on July 30. The two-year bullet term financing facilities comprise a conventional facility and a commodity murabaha financing facility, each carrying a margin of 1.50 % p.a. over Libor. Both facilities have a 1-year extension option at the end ...

Bloomberg President Donald Trump defended his use of tariffs that have inflamed tensions with China and Europe, telling an audience of diehard supporters that playing hardball on trade is “my thing.” “We have really rebuilt China, and it’s time that we rebuild our own country now,” Trump said during about an hour of free-wheeling remarks at a rally outside Columbus, ...

DUBAI / WAM Master developer Nakheel is investing AED15 million to increase boat mooring capacity on Palm Jumeirah, with two new marinas that will bring the total berths on the island to 600. New marinas are on the way at Nakheel’s Azure Residences waterfront apartment and resta-urant complex on island’s eastern trunk, and at The Pointe, Nakheel Malls’ upcoming sea-front ...

Ajman / WAM The Department of Tourism Development in Ajman seeks to meet the goals of Ajman Vision 2021, which includes raising the number of hotel guests to some 700,000 annually, and booking approximately 2.2 million guest hotel nights by 2019, an increase of 64 percent, as well as a surge in the emirate’s hotel occupancy rate of 80 percent ...

DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE), and the Ministry of Education, have signed a MoU to cooperate in the exchange of available labour market information through the Smart Government Query system. The MoU was signed by Mohammed bin Saqr Al Nuaimi, Assistant Under-Secretary for Support Services, Ministry of Human Resources and Emiratisation, and Sheikha Koloud ...

ABU DHABI / WAM This year, the Year of Zayed, the August 6 marks the 52nd anniversary of the late Sheikh Zayed bin Sultan Al Nahyan’s accession as Ruler of Abu Dhabi. Since this momentous occasion, the UAE’s development journey began to take shape, with the Union forming shortly after on December 2, 1971, under the leadership of the Founding ...

DUBAI / WAM In commemoration of the late Sheikh Zayed bin Sultan Al Nahyan’s Accession Day on August 6, 1966, The Cultural Office of HH Sheikha Manal bint Mohammed bin Rashid Al Maktoum has announced the completion of the second edition of the 140-metre ‘Al Ydar’ mural, launched this year in line with the ‘Year of Zayed’. The artwork has ...

Abu Dhabi / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister for Tolerance, has affirmed that the occasion when the Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, took over the reins of the government in Abu Dhabi, is a moment of great pride and honour for the sons and daughters of the UAE. It represents the break ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry has announced the opening of a representative office in India, which will be tasked with identifying new business opportunities for Chamber members, attracting Indian companies to Dubai and expanding bilateral trade and investment. The new office, located in Mumbai, is the second representative office to be opened by the ...

DUBAI / Emirates Business With schools closed over the summer, young children and teenagers will spend most of their time on their devices — increasing their average online activity to eight hours per day. Children spend the majority of their time on their devices, which may include gaming devices, smartphones, laptops, desktops, virtual assistants, etc. According to a study commissioned ...