DUBAI / WAM Driven by a robust performance and operation, Union Coop, the largest consumer cooperative in the UAE, posted revenues of AED2.9 billion in 2017, the highest since it was founded in 1982. Khaled Humaid Al Falasi, CEO of Union Coop, said shareholders’ rights grew 19 percent in 2017 to AED 2.5 billion from AED2.1 billion in 2016. He ...

DUBAI / WAM The final agreement to develop a greenfield economic free zone in Somaliland to complement the growth of the Port of Berbera has been signed between DP World and its government in Dubai. The global trade enabler expects to break ground on the 12 square kilometre free zone project this year. Located next to the port, it will ...

DUBAI / WAM The government of Indonesia on Sunday listed two sukuks with a total value of $3 billion on Nasdaq Dubai. The collaboration underlines the close relations between the UAE and Indonesia, the world’s most populous Muslim country, as well as Dubai’s growth as the global capital of the Islamic Economy. The Indonesian government is the largest sukuk issuer ...

ABU DHABI / Reuters Emirates Global Aluminium (EGA) said on Sunday it was “well prepared” for any market conditions should US President Donald Trump go ahead with sweeping tariffs on steel and aluminium imports. “Alongside Europe, Asia and the United Arab Emirates, the US is an important market for EGA,” the company’s spokesman told Reuters. “We are well prepared for ...

Abu DHABI / WAM Al Hilal Bank has announced the dividend payout of its Al-Hilal Global Balanced Fund. The Fund, which was launched in 2014, distributed a 17.78% dividend to all registered unit holders as of February 8, constituting 100% of the distributable income as verified by the Fund’s independent auditors. Al Hilal Global Balanced Fund aims to generate appropriate ...

DUBAI / WAM ENOC Group, through its subsidiary Horizon Terminals, has awarded the Engineering, Procurement and Construction (EPC) contract for a 16.2-kilometre jet fuel pipeline that links its storage terminals in Jebel Ali with Al Maktoum International Airport (DWC) in Dubai South, to Dubai-based Albanna Engineering. The construction of the pipeline is expected to be completed in 24 months and ...

Dubai / WAM Top-level regional and global government officials and power decision makers will join pioneers of energy, space and technology when the inaugural sector-defining Global Smart Energy Summit (GSES), gets under way at Dubai World Trade Centre on March 6. The three-day thought leadership summit will see more than 110 high-profile speakers address 700-plus delegates across more than 100 ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued, in his capacity as Ruler of Abu Dhabi, a law to establish the Abu Dhabi Development Holding Company (ADDHC), as a public joint stock company. According to the law, the new company will be an independent corporate body that enjoys full legal status to practice ...

Dubai / WAM The 15th edition of the Dubai International Humanitarian Aid and Development Conference and Exhibition (DIHAD 2018), will launch on Monday. The first humanitarian aid and development event of its kind in the Middle East, DIHAD 2018 will be held from the March 5-7, at the Dubai International Convention and Exhibition Centre (DICEC). Held under the patronage of ...

Dubai / WAM In line with the directives of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has issued an order to freeze Dubai Government fees for a period of three years. ...