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Bloomberg President Donald Trump said he’s begun talks with World Trade Organisation (WTO) director-general Roberto Azevedo on changing the structure of the body, which he complained has been unfair to the US. Azevedo will travel to the US for negotiations, Trump said on Wednesday at a news conference to close his visit to the World Economic Forum annual conference in ...
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January, 2020
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22 January
M1 aggregates hit AED514.8b in Dec 2019
ABU DHABI / WAM The UAE central bank announced that money supply aggregates for currency circulation outside banks and monetary deposits (M1), increased by 0.5%, from AED512.1 billion at end of November 2019 to AED514.8 billion at the end of December 2019. According to a statement by central bank, money supply aggregates, M2, increased by 2.2%, from AED1,380.5 billion at ...
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22 January
MoF says value of revenues hits AED56.1 billion in 2018
ABU DHABI / WAM The Ministry of Finance (MoF), announced on Wednesday morning the results of the 2018 Consolidated Annual Report of the federation, and the final accounts of independent entities. The announcement came alongside the ministry’s participation in the Federal National Council’s third meeting, which took place in Abu Dhabi. The report stated the value of revenues reached AED56.1 ...
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22 January
FAB named ‘best trade finance provider’ in UAE
ABU DHABI / WAM First Abu Dhabi Bank (FAB), has been recognised as the ‘Best Trade Finance Provider in UAE’ by Global Finance at the Bankers Association for Finance and Trade Annual Meeting 2020. The bank received the award at a ceremony in Frankfurt. The awards recognise finance providers that have delivered excellent trade finance solutions by anticipating evolving trends, ...
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22 January
Bani Yas Court project handed over to ADJD
Abu Dhabi / WAM The Abu Dhabi General Services Company (Musanada), handed over the Bani Yas Court project to the Abu Dhabi Judicial Department (ADJD), stating that it constructed the court building over an area of 7,725 square metres at a total cost of approximately AED54 million. The company said that the works were completed as per the construction plan ...
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22 January
AFZ, Mashreq to facilitate business set-up
Ajman / Emirates Business Ajman Free Zone (AFZ) signed a Memorandum of Understanding (MoU) with Mashreq Bank, the oldest privately-owned bank in the UAE. The agreement, spanning two years, will entail any business that chooses to set up in Ajman Free Zone being recommended the services of Mashreq Bank during the registration or licensing process. This agreement also applies to ...
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22 January
Dubai to host world’s biggest humanitarian event
DAVOS / WAM The UAE on Wednesday announced that it will co-host the world’s biggest humanitarian event on 26th September 2020. Dubai will host one of ten simultaneous live events organised by Global Citizen, the international organisation that aims to build a movement to end extreme poverty by 2030. The news was announced as part of the UAE delegation’s participation ...
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22 January
Fujairah launches coexistence survey
FUJAIRAH / WAM The Fujairah Statistics Centre began a survey to measure the level of coexistence in Fujairah, which is the first such survey in the country that aims to measure community tolerance and coexistence and encourage honest national community dialogue. The survey is part of a partnership between the Federal Competitiveness and Statistics Authority and participating local centres. Dr ...
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22 January
Shuaa Capital issues GFH’s $300m sukuk
DUBAI / WAM Shuaa Capital on Wednesday announced that along with other parties, it had successfully priced and issued GFH Financial Group’s five-year sukuk at $300 million. The sale of the sukuk, held on January 21, was more than twice oversubscribed, with orders of over $700 million. Mustafa Kheriba, Deputy CEO and Group Head of Asset Management at Shuaa, commented, ...
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22 January
Enec achieves 75m safe work hours at Barakah N-plant
ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec) has achieved 75 million safe work hours at the Barakah Nuclear Energy Plant, reflecting Enec’s commitment to the highest standards of safety, security and quality in the development of the UAE Peaceful Nuclear Energy Programme. Mohamed Al Hammadi, Chief Executive Officer of Enec, Mark Reddemann, Chief Executive Officer of Nawah ...
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