January, 2020

• 15 January

  Target tumbles as sales dip

  Bloomberg Target Corp tumbled after posting holiday sales that were below its own expectations and slashing its fourth-quarter sales outlook, delivering a warning sign for the entire retail sector that tougher times lie ahead. Comparable sales — a key barometre of retail performance — rose 1.4% in the November-December period, far less than last year’s 5.7% growth. Target plans to ...

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• 14 January

  Sheikh Mohammed announces launch of ‘Dubai Future District’

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, on Tuesday announced during the second Dubai Council’s meeting, that a new district under the name of ‘Dubai Future District’ dedicated to the new economy will take shape in Dubai. The Dubai Future District will see Dubai World ...

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• 14 January

  UAE, Italy discuss ways to enhance investment ties

  ABU DHABI / WAM Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, and Manlio di Stefano, Deputy Minister of Foreign Affairs of Italy, discussed the economic and commercial cooperation between the UAE and Italy. During their meeting, held at the headquarters of the ministry in Dubai, both sides discussed ways of widening the scope of ...

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• 14 January

  Masdar announces global ‘Y4S’ platform

  

  Abu Dhabi / WAM HH Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, attended on Tuesday the global launch by Masdar of the Youth 4 Sustainability (Y4S) platform. The global platform, launched under the patronage of Sheikh Khalid bin Mohamed, is designed to equip young ...

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• 14 January

  DP World wins another ruling against Djibouti in port dispute

  

  DUBAI / WAM DP World has won a further legal hearing against the Government of Djibouti over the Doraleh Container Terminal. A Tribunal of the London Court of International Arbitration ordered Djibouti to restore the rights and benefits under the 2006 Concession Agreement to DP World and Doraleh Container Terminal SA within two months, or pay damages. An independent expert ...

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• 14 January

  Ajman Media City join hands with Ajman Pay

  AJMAN / WAM As part of its efforts to effectively embrace Ajman’s vision of a digital economy through smart governance, the Ajman Media City Free Zone announced that it will link its digital services with Ajman Pay. Chairman of Ajman Media City Free Zone, Sheikh Abdulaziz bin Humaid Al Nuaimi, said, “We commend the efforts of Ajman’s Department of Finance ...

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• 14 January

  Nuclear energy to complement UAE’s clean energy transition

  

  ABU DHABI / WAM The Emirates Nuclear Energy Corporation (ENEC) has participated in the ongoing World Future Energy Summit, part of Abu Dhabi Sustainability Week 2020, to showcase the impactful role that nuclear energy will play in sustainably powering the growth of the country, in line with the UAE Energy Strategy 2050. The Strategy includes a reduction in carbon dioxide ...

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• 14 January

  Masdar acquires 40% stake in Australia waste-to-energy plant

  

  ABU DHABI / WAM Masdar, a subsidiary of Mubadala Investment Company, has made its first investment in Australia after acquiring a 40 percent stake in the country’s second utility-scale waste-to-energy (WTE), facility, the company announced on Tuesday at Abu Dhabi Sustainability Week (ADSW 2020). Under the terms of the investment, Masdar and Abu Dhabi advisory and development firm Tribe Infrastructure ...

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• 14 January

  UAE stock markets gain AED7.1 billion

  ABU DHABI / WAM UAE stock markets continued their rise for the second consecutive day, amid improvements in trading, with market capitalisation of trading companies reaching AED7.1 billion. The Abu Dhabi Securities Exchange General Index increased 68 points or 1.34 percent since the beginning of 2020. Today’s numbers reveal the Abu Dhabi Securities Market rose to 5,168.62 points, a 1.07 ...

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• 14 January

  UAE, Japan non-oil trade hits $130.8b in 10 years

  

  ABU DHABI / WAM According to statistics from the Ministry of Economy, the total value of non-oil trade between the UAE and Japan reached AED481.34 billion or $130.8 billion over the past ten years from 2009 to 2019. These statistics highlight the growing trade and economic relations between the two countries, with the value of their overall trade in the ...

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