August, 2019

• 6 August

  Dubai Aerospace Enterprise revenue hits $726.9m in H1

  Dubai / WAM Dubai Aerospace Enterprise (DAE) reported on Tuesday its financial results for the six months ended on June 30. According to the aerospace corporation the first half of 2019 saw total revenues of $726.9 million compared to $711.4 million during the same period last year. DAE’s net profits reached $197.1 million, compared to $195.2 million in H1 2018. ...

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• 6 August

  Mastercard buys Nets unit for $3.19b in largest deal

  

  Bloomberg Mastercard Inc agreed to buy a payments platform owned by Denmark-based Nets for 2.85 billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into faster payments. With the purchase, Mastercard is getting an electronic-billing platform and clearing and instant-payment services, according to a statement on Tuesday. The company said the purchase will hurt profit for ...

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• 6 August

  Oil dips as trade row deepens

  

  Bloomberg Brent oil slid below $60 a barrel for a second day as investors weighed the prospects of a prolonged standoff between the US and China, following the Trump administration’s labelling of the Asian nation as a currency manipulator. London-traded futures erased an earlier rally to fall about 0.5 percent on Tuesday. A move by the People’s Bank of China ...

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• 6 August

  About 4k licences issued for top 10 economic activities

  Abu Dhabi / WAM The number of licences issued for the top ten economic activities in the UAE totalled 3,976 from the start of the year to the end of July, according to the National Economic Register. Public trade continued to be the most active economic sector in the UAE during the first seven months of the year, reflecting the ...

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• 6 August

  FCA unifying customs e-systems across UAE

  

  ABU DHABI / WAM The Federal Customs Authority (FCA) has implemented a unified customs electronic system that will reinforce customs control methods across the Emirates. FCA has signed an agreement with the General Customs Authority — Abu Dhabi and a memorandum of understanding (MoU) with Dubai Customs under the framework of implementing common systems across UAE borders and customs administrations. ...

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• 6 August

  Zulekha Hospital honoured with baby friendly accreditation by Unicef, WHO

  

  Sharjah / Emirates Business Zulekha Hospital, Sharjah takes pride in being the first private hospital in UAE to be certified with the Baby Friendly Hospital Initiative (BFHI) accreditation by UNICEF and WHO. The Baby-friendly Hospital Initiative (BFHI) was launched by WHO and UNICEF in 1991, following the Innocenti Declaration of 1990. The initiative is a global effort to implement practices ...

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• 6 August

  Ma’an lists 25 start-ups for Abu Dhabi social incubator

  ABU DHABI / Emirates Business A total of 25 teams have been shortlisted by the Authority for Social Contribution — Ma’an to proceed to the pitching phase of their social incubator programme, which aims to grow business ideas with a community focus into social enterprises and not-for-profit associations. It follows a highly competitive selection process which saw more than 130 ...

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• 6 August

  Emirates gears up for busy travel ahead of Eid

  

  Dubai / Emirates Business Emirates gears up for a busy travel period this weekend for the Eid holiday. The busiest time for departures in Terminal 3 will be on August 9 with close to 100,000 passengers travelling through Terminal 3 at DXB. Customers are reminded to arrive at the airport at least three hours before their flight departure to avoid ...

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• 6 August

  ‘Year of Tolerance’ gains local, international significance

  

  ABU DHABI / WAM The Year of Tolerance in the UAE has gained both local and international significance, due to the launch of initiatives that aim to support the country’s long-term efforts to promote tolerance around the world, in coordination with relevant international bodies. In this report, the Emirates News Agency (WAM) highlights the UAE’s key local and global achievements ...

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• 6 August

  Five insurance firms sign up on DIFC-based blockchain platform

  

  DUBAI / WAM Five major regional insurance companies have signed on to Addenda’s integrated blockchin platform. Based at Dubai International Financial Centre (DIFC) Addenda is an InsurTech firm that uses distributed ledger technology to streamline processes between insurance companies. With the global InsurTech market revenue valued at $533 million in 2018 and expected to reach over $1 billion by 2023, ...

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