DUBAI / Emirates Business Global trade enabler DP World has extended its partnership with Oracle to implement its digital transformation programme that supports its strategy to develop complementary sectors in the global supply chain such as industrial parks, free zones and logistics. The move follows an announcement by DP World earlier this year to use the Oracle Cloud Suite of ...

Bloomberg Dana Gas has reached an agreement with key holders of $700 million of its Islamic bonds to restructure the securities, seeking to end a legal battle. A committee representing sukukholders, including BlackR ock Inc and Goldman Sachs Group Inc, have agreed to terms that include two options for creditors, the company said in a statement. Dana Gas and creditors ...

Dubai / WAM The Dubai Department of Economic Development (DED), has issued 1,848 new business licenses during April as the emirate remained a destination of choice for investment in diverse business sectors. The ‘Business Map’ digital platform of DED saw 26,498 business registration and licensing transactions being completed during the month as economic diversification and competitiveness continued to strengthen the ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC), has provided humanitarian assistance to 4,493 underprivileged families and individuals in the UAE during the first quarter of 2018. Rashid Mubarek Al Mansouri, ERC’s Deputy Head for Local Affairs Sector, said that UAE leadership continues to reiterate its support for increasing the ERC’s presence across the country with the ultimate objective ...

Dubai / Emirates Business Dubai Islamic Economy Development Centre (DIEDC) concluded its successful participation at the 10th Russia – Islamic World Kazan Summit that ran from May 10-12. Supported by the Federation Council of the Federal Assembly of the Russian Federation and the Government of the Republic of Tatarstan, the annual summit seeks to strengthen trade and economic, as well ...

RAS AL KHAIMAH / Emirates Business SEED Agriculture, a leading innovator in agriculture methods and technology under Pegasus Food Futures, on Sunday signed an agreement with Ras Al Khaimah Economic Zone (Rakez) to acquire a total of 670,000 m2 land where it is set to establish the largest hydroponic farm in Ras Al Khaimah. The signing ceremony was held at ...

ABU DHABI / WAM Waha Capital PJSC reported a 22.6 percent rise in first quarter net profit to AED107 million, driven by a strong performance by the company’s asset management division and the disposal of 3.77 million shares in AerCap. Total income for the quarter ending March 31 increased 18.9 percent year on year to AED316.2 million. This was partly ...

Abu Dhabi / WAM The UAE has supported Yemen, especially the Socotra archipelago, for many years, as part of the directives of the late Sheikh Zayed bin Sultan Al Nahyan and President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The UAE’s historic support for the Yemeni people reflects its commitment to unify the country and improve the conditions of ...

ADEN / WAM Yemen’s National Resistance Forces, backed by the UAE Armed Forces, have liberated Hima Port, situated north of Al Khawkha. This latest advance saw the collapse of Houthi militia capabilities. The Hima Port liberation is part of a large-scale military operation to dismantle Houthi militias, and liberate Yemeni cities.

Bloomberg The fate of the flattening US yield curve now rests squarely in the words of Federal Reserve officials. Bond traders have already reached their verdict. The yield spread between 5- and 30-year Treasuries narrowed last week to as little as 26.2 basis points, the lowest since August 2007. The prospect of an inverted curve, which has presaged past recessions, ...