July, 2020

• 22 July

  Nasdaq, SGX in pact to smooth dual listings

  Bloomberg Singapore Exchange Ltd. (SGX) and Nasdaq Inc. will extend their partnership to help companies access capital in both jurisdictions. The increased cooperation will include a streamlined framework for issuers seeking a secondary listing on Singapore Exchange, SGX said in a statement. The two exchanges are deepening their partnership at a time when the tensions between the US and China ...

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• 21 July

  UAE No.1 globally in mobile subscription index: UN report

  

  DUBAI / WAM The UAE ranked first in the Gulf, Arab Region, and Western Asia, and the seventh globally in the Telecommunication Infrastructure Index (TII) according to the UN E-Government Survey 2020. It also ranked second in Asia in this index. In addition, the UAE made significant progress in the global competitiveness indicators of the telecommunications sector in the report, ...

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• 21 July

  Etisalat H1 net profit rises 3% to reach AED4.6 billion

  

  Dubai / emirates business Etisalat Group on Tuesday announced its consolidated financial results for the first six months of 2020 ending June 30. The subscriber base of Etisalat Group during the period reached 146 million. The consolidated revenues of the group amounted to AED25.6 billion and consolidated net profit after Federal Royalty amounted to AED4.6 billion representing a year over ...

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• 21 July

  Arabtec wins AED196m deal from Saudi Aramco

  

  Dubai / WAM Arabtec Holding, a contractor for social and economic infrastructure, on Tuesday announced that its wholly-owned subsidiary, Target Engineering Construction Company has been awarded around SAR200 million (AED195.88) contract by Saudi Aramco for the replacement of five storage tanks at Ras Tanura Refinery in Eastern Province, Saudi Arabia. In a statement by the company on the Dubai Financial ...

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• 21 July

  El Sisi: Hope Probe restores Arab nations’ former glories in science

  CAIRO / WAM Egyptian President Abdelfattah El Sisi has said that the launch of Hope Probe into space is a groundbreaking step for the UAE into the sphere of space exploration. In a tweet on Monday, President El Sisi said, “I followed with great pride the launch of Hope Probe into space. Though this is an unprecedented historic step for ...

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• 21 July

  EU reaches $860b deal on pandemic recovery

  

  Bloomberg European Union (EU) leaders agreed on an unprecedented stimulus package worth 750 billion euros ($860 billion) to pull their economies out of the worst recession in memory and tighten the financial bonds holding their 27 nations together. The agreement, in the early hours of Tuesday after more than four days of acrimonious negotiations in Brussels, required the unanimous approval ...

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• 21 July

  Brent oil hits four-month high on economic recovery hopes

  

  Bloomberg Oil climbed to the highest level since early March in London as hopes for an economic recovery from the coronavirus crisis lifted financial markets. Brent futures rose 2.8% as European Union leaders agreed on an unprecedented stimulus package to pull their economies out of the worst recession in memory, while results of early trials of a virus vaccine developed ...

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• 21 July

  Etihad Cargo enhances export control compliance with E2 deal

  

  Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of the Etihad Aviation Group, is set to streamline regulatory compliance screening processes for shipments via a new partnership with E2open, a leading provider of intelligent supply chain solutions. Scheduled to be fully operational by November, the E2open application implementation will enable Etihad Cargo to automate cargo screening against ...

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• 21 July

  DSOA boosts smart services

  

  Dubai / WAM The Dubai Silicon Oasis Authority (DSOA) the regulatory body for the Dubai Silicon Oasis (DSO) announced the launch of the second phase of the AI-powered chatbot, “HADI”, including the expansion of the list of smart services available online, to facilitate providing support remotely to customers, residents, business partners. In 2019, the DSO was the first free zone ...

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• 21 July

  MoF inks deal with Sharjah Media City

  Dubai / WAM The Ministry of Finance (MoF) signed a memorandum of understanding (MoU) with Sharjah Media City, Shams, on the exchange of information for tax purposes, as part of the UAE’s tax agreements. Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance and Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City (Shams) signed the agreement virtually. ...

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