DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced that it has paid AED400 million as dividends to its shareholders, from the profit of the company for the year ended on December 31, 2017. The company has earlier declared a net profit of AED 772mn in 2017, an increase of 20% ...

ABU DHABI / WAM The ninth edition of the Global Financial Markets Forum (GFMF) was launched at Emirates Palace under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The event is being hosted by First Abu Dhabi Bank (FAB) in cooperation with the ...

ABU DHABI / WAM Abu Dhabi Airports announced that it has signed a memorandum of understanding (MoU) with San Bernardino International Airport Authority (SBIAA) linking Al Bateen Executive Airport with San Bernardino International Airport in San Bernardino, California. The MoU was signed by Abdul Majeed Al Khoori, Acting Chief Executive Officer of Abu Dhabi Airports and Michael Burrows, Executive Director ...

DUBAI / WAM DP World, the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) signed an agreement to implement the first phase of development of an integrated industrial and residential zone in Sokhna, Egypt. The agreement, which establishes a clear timetable of actions required to execute the first phase of the project spanning 30 square kilometres, was signed ...

Abu DHABI / Reuters A final decision on a new system of setting Emirates Interbank Offered Rates (EIBOR), which will be more efficient and more closely based on real data from the market, is expected to be taken this year, the UAE central bank governor said on Tuesday. “It’s ongoing and we’re having final discussions with the banks,” Mubarak Rashid ...

Dubai / Emirate Business Damac Properties has awarded a construction contract worth approximately AED600 million to China State Construction Engineering Corporation (CSCEC) for the construction of one of the towers at Aykon City, Damac’s premiere luxury master development on Sheikh Zayed Road overlooking Dubai Canal. The contract covers main works construction for the tower which consists of serviced apartments within ...

Dubai / Emirates Business Indian nationals, who form the largest foreign investor group in Dubai’s real estate, have bought properties worth AED 83.65 billion in the last five years – from 2013 to 2017 – in Dubai’s property sector, according to statistics compiled by Dubai Land Department. They invested AED15.6 billion in Dubai’s real estate in 2017, AED 12 billion ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, visited the Global Education Supplies and Solutions Exhibition (GESS) on Tuesday. The three-day event is being organised by the Ministry of Education in co-operation for the 11th consecutive year in the Dubai World Trade Centre. His Highness Sheikh Mohammed ...

Abu Dhabi / WAM His Highness Sheikh Sultan bin Zayed Al Nahyan, President’s Representative, has said that the late Sheikh Zayed bin Sultan Al Nahyan will be remembered in history for his actions and achievements, and establishing the Founder’s Memorial in the capital, Abu Dhabi, is based on the nation’s belief that Sheikh Zayed is an exceptional leader and symbol, ...

Abu Dhabi / Emirates Business Major Pilot Saeed Mohammed Al Yamahi, the Official Spokesperson of Unmanned System Exhibition (UMEX) 2018 and Simulation & Training Conference and Exhibition (SimTEX) 2018 announced at a press conference that 10 defence deals worth AED294.225 million were signed on the third day of the dual event, taking the total value of deals signed to AED ...