ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) signed an agreement with Japan’s INPEX Corporation awarding the company a 10 percent interest in Abu Dhabi’s offshore Lower Zakum concession. A wholly-owned INPEX subsidiary, JODCO Lower Zakum Limited, will hold and manage the interest in the concession on behalf of INPEX. The agreement, which comes into effect on ...

BARCELONA / WAM The United Arab Emirates is ranked first for the highest-Fiber-to-the-Home (FTTH) penetration among all its global counterparts for a second year in a row, according to the FTTH Council. The council published its annual report that highlighted UAE with a coverage of 94.3 percent compared to countries such as Singapore (90.3 percent), South Korea (81.6 percent), Hong ...

DUBAI / Reuters The emirate of Sharjah has picked banks including HSBC and Sharjah Islamic Bank to arrange a US dollar-denominated sukuk issue, sources aware of the matter said on Monday. The banks include several international and local lenders, the sources said. The government of Sharjah and HSBC declined to comment, while Sharjah Islamic Bank did not immediately respond to ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), has called on all businesses registered for the Value Added Tax (VAT), whose first tax periods end on January 31, to submit their tax returns and pay their due taxes no later than 28th February in order to avoid administrative penalties. Khalid Al Bustani, FTA Director General, said the Authority has ...

Abu Dhabi / WAM Tawazun Industrial Park (TIP), and the Emirates Defence Companies Council (EDCC), have signed a Memorandum of Understanding (MoU), under which the Park will provide a special package of facilities and benefits to the member companies of the Council. The memorandum seeks to establish a framework for collaboration between the TIP and EDCC to enhance the strategic ...

Abu Dhabi / WAM Mohammed bin Ahmad Al Bowardi, Minister of State for Defence Affairs, has said that the specialist exhibitions hosted by the UAE, especially those related to advanced technologies, such as the Unmanned Systems Exhibition and Conference (UMEX, 2018), and the Simulation and Training Exhibition (SimTEX), 2018, have helped to promote the UAE’s strategy of innovation, to accelerate ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday received Juan Carlos Varela, President of Panama, who is currently visiting the country. Sheikh Mohamed welcomed President Varela and his delegation, saying that the visit will contribute in enhancing friendly relations and ...

Bloomberg US stocks rose to a three-week high, as renewed gains in Treasuries that pushed yields further below 2.9 percent alleviated angst that higher rates would accelerate tightening. The dollar strengthened. The S&P 500 Index climbed for a third day, joining gains in European and Asian equities. Volume was low as investors await the first public comments from Federal Reserve ...

Bloomberg Singapore paved the way for a third derivatives exchange in the city, a month after Deutsche Boerse AG called quits on its ambition for a futures venue in the Asian nation. Asia Pacific Exchange Pte, backed by Chinese investors, has received licenses from the Monetary Authority of Singapore to operate a derivatives exchange and clearinghouse, Chief Executive Officer Eugene ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received President Juan Carlos Varela of Panama on Monday. His Highness welcomed President Varela in the presence of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council. During ...