RAS AL-KHAIMAH / WAM Ras Al-Khaimah Port, one of the emirate’s five port facilities, now established a new free zone area that comes under the licence jurisdiction of RAK Maritime City Freezone Authority. Commenting on the new facility, Captain Clifford Brand, CEO of Ras al-Khaimah Ports, said, “We believe that introducing a free zone alternative within RAK Port will ...

  DUBAI / WAM Dubai Islamic Bank (DIB) on Monday announced its results for the period ended September 30, with a group net profit increased to AED3,011mn, up 7% compared with AED2,801mn for the same period in 2015. Mohammed Ibrahim Al Shaibani, Chairman of Dubai Islamic Bank, said, “Despite somewhat difficult times for the global economy, the UAE economy and ...

  SHARJAH / WAM Sharjah Investment and Development Authority (Shurooq) announced that it will finalise the new extension of Al Majaz Waterfront, a tourist destination in Sharjah, by the end of this year, at a total cost of AED 35 million. The phase two extension project, that is currently 90 percent complete, will add 53,000 square feet to the total ...

  Dubai / Emirates Business Smart Dubai Government Establishment (SDG), the technology arm of Smart Dubai Office which assumes the responsibility for managing and supervising the implementation of Dubai Government’s electronic and smart transformation, revealed the signing of a Memorandum of Understanding (MoU) with Emaratech, an IT and software company, to prepare a work plan and conduct a feasibility study ...

  Jeddah / Emirates Business Saudi Arabia and the UAE are leading the upward trend for the fire safety systems market in the Gulf Cooperation Council (GCC), as stringent government regulations fuel demand for the replacement of existing and outdated equipment. According to consultancy firm 6Wresearch, the GCC’s fire safety systems market was worth US$1.36 billion in 2015, with Saudi ...

  Ajman / Emirates Business With the focus of increasing the number of visitors in 2017 by 20%, and following the remarkable growth of tourists from Europe to Ajman, the Ajman Tourism Development Department (ATDD) has embarked on a six-city roadshow to Germany to promote the emirate as a premier destination. The four-day Germany tour from October 24 to 27 ...

  Dubai / Emirates Business Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently organised a visit for its employees to the Dubai Autism Center (DAC). The bank also announced an AED 200,000 contribution to DAC, as part of its commitment to support the Center’s specialist services for people with autism and those who care for ...

  Dubai / Emirates Business Sponsored by HH Sheikh Saud bin Rashid Al Mualla, Member of the UAE Supreme Council, Ruler of Umm Al Quwain (UAQ), the 3rd UAE Economic Planning Forum 2016 will be held on November 1-2, at Sheikh Khalifa Wedding Hall in Umm Al Quwain. This year, the Forum looks at the concept of industrial sustainability and ...

  Bloomberg Germany is seeking tighter control over foreign investment in European companies, in a sign of a growing protectionist reaction to China’s appetite for overseas acquisitions. Economy Minister Sigmar Gabriel on Monday reopened a review of the takeover of Aixtron SE, which supplies equipment to the semiconductor industry, by China’s Grand Chip Investment GmbH. That follows calls by Gabriel, ...

  Bloomberg Volkswagen AG is facing renewed pressure to repair the damage caused by its diesel emissions scandal, with the European Union calling on the carmaker to start compensating affected consumers and show clear proof that vehicles will be fixed within the coming year. VW “should clearly identify what will be offered to consumers and this in a similar manner” ...