December, 2019

• 17 December

  UBF outlines 2020 priorities to support UAE’s national agenda

  Abu Dhabi / WAM The UAE Banks Federation (UBF), culminated another successful year, hosting on Monday its Board of Directors (BoD), and its CEOs Advisory Council meetings, specially after it was announced that the year 2020 will be the “Year of Getting ready for UAE’s 50th Anniversary”, the Golden Jubilee year. The two meetings outlined UBF’s 2020 priorities in line with ...

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• 17 December

  DLD develops world’s first real estate valuator project

  

  Dubai / Emirates Business Dubai Land Department (DLD) continuously works through its various sectors to develop services provided by its partners, with the most recent effort being the development of the real estate valuation companies and valuator classification project by the Real Estate Regulatory Agency (RERA), in recognition of the important services they provide to various parties in the real ...

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• 17 December

  Zaki Nusseibeh receives Italian Ambassador

  Abu Dhabi / WAM Zaki Nusseibeh, Minister of State, received Liborio Stellino, Italian Ambassador to the UAE, with the attendance of Professor Ida Zilio Grandi, Director-General of the Italian Cultural Institute in Abu Dhabi, at the Ministry of Foreign Affairs and International Cooperation. During the meeting, both sides discussed ways of developing their bilateral relations in the areas of culture ...

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• 17 December

  No eye scan for frequent flyers to Dubai soon, says GDRFA

  

  Dubai / WAM Frequent foreign visitors to Dubai will “soon” be able to avoid waiting in a queue for eye scan at airport, which is a mandatory security check procedure. An automatic registration system enabled by advanced cameras will carry out the eye scan of all passengers, easing the passenger flow and saving their time, senior officials told the Emirates ...

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• 17 December

  ADFD approves $5mn for social services project in Liberia

  

  Abu Dhabi / WAM The Abu Dhabi Fund for Development (ADFD), has earmarked a government grant worth $5 million (AED18.3 million) for a vital project that aims to enhance social services for the Liberian population. Located in the capital Monrovia, the grant will support the development of modern integrated sports and leisure infrastructure. The scope of the project includes the ...

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• 17 December

  Aramco acquires 17% stake in South Korea’s Hyundai Oilbank

  

  DHAHRAN / AGENCIES Saudi Arabian Oil Company, Saudi Aramco, has completed, through its subsidiary Aramco Overseas Company, the acquisition of 17 percent of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately $1.2 billion. The completion follows receipt of all necessary regulatory consents and approvals. According to a statement issued by the company, the investment in South Korea’s Hyundai Oilbank ...

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• 17 December

  UAE first in Arab world in ‘national trademark report’

  DUBAI / WAM The UAE ranked first in Middle East and North Africa region this year in “National Trademark Report 2019,” issued by Brand Finance. The report tracks the most valuable and most influential national brands from the world’s top 100 countries and measures their strength and value, with a focus on goods, services, investment and society. The UAE is ...

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• 17 December

  DHL Express enters deal to expand in Abu Dhabi

  

  ABU DHABI / WAM The Abu Dhabi Airports Free Zone (ADAFZ), Authority, a wholly-owned subsidiary of Abu Dhabi Airports, signed an expansive 27-year Musataha Agreement with Middle East General Enterprises (MGE), to facilitate the presence of DHL Express in the ADAFZ. The move is in line with the Abu Dhabi strategic logistics plan resulting from ADAFZ’s commitment to providing world-class ...

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• 17 December

  Boeing’s 737 halt may cause temporary dent in US growth

  

  Bloomberg Boeing Co.’s production halt for the 737 Max is likely to be little more than a temporary headwind for the US economy — especially now that the expansion is on firmer footing compared with other times since the aircraft was grounded in early 2019. The company’s decision to temporarily suspend production starting next month comes as the world’s largest ...

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• 17 December

  China to grant regular tariff waivers for US farm imports

  

  Bloomberg China will provide retaliatory tariff waivers to buyers of US farm products on a more regular basis after the countries reached a phase one trade deal, according to people familiar with the situation. Waivers had previously been given in tranches but they’ll now be handed out more frequently. The move will make it less punitive for Chinese firms to ...

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