July, 2019

• 23 July

  DP World reports stable volume performance

  

  DUBAI / WAM DP World PLC handled 35.8 million twenty-foot equivalent units (TEU), across its global portfolio of container terminals in the first half of 2019, with gross container volumes growing by 0.5 percent year-on-year on a reported basis and 0.5 percent on a like-for-like basis. Its strong performance across Asia Pacific, the Indian Subcontinent and Africa drove growth in ...

  Read More »
• 23 July

  Hub71 launches accelerator program to boost startups

  

  ABU DHABI / WAM Hub71 and Techstars announced the launch of the Techstars Hub71 Accelerator Programme in Abu Dhabi, where 10 start-ups will undergo an intensive 13-week programme that will conclude with an investor Demo Day and the opportunity to receive funding to grow their businesses. The programme serves as an opportunity for start-ups to accelerate their business model and ...

  Read More »
• 23 July

  UAE, China celebrate 35 years of bilateral ties

  BEIJING / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Wang Qishan, Vice President of China, on Tuesday attended a reception organised by the UAE Embassy in Beijing to celebrate the 35th anniversary of the establishment of the bilateral relations between the UAE and ...

  Read More »
• 23 July

  UAE private wealth continues to soar bucking global trend

  

  DUBAI / Emirates Business Steady gains in global personal wealth slid by more than 5 percentage points in 2018, according to a new report by Boston Consulting Group (BCG), titled Global Wealth 2019: Reigniting Radical Growth. As a result of a fourth-quarter dip in stock indexes, as well as geopolitical threats, high valuation levels, and interest rate challenges, the report ...

  Read More »
• 23 July

  du revenues reach AED6.33billion in H1

  

  DUBAI / Emirates Business Emirates Integrated Telecommunications Company PJSC (du) published its financial results for Q2 2019, reporting AED3.19 billion revenues, AED 1.47 billion EBITDA and AED464 million net profit after royalty for the second quarter of the year. For H1 2019, EITC reported revenues of AED6.33 billion, EBITDA of AED 2.89 billion representing growth of 1.7 percent when compared ...

  Read More »
• 23 July

  Emirates transports 13m passengers to, from China

  Dubai / WAM Emirates Airline transported 13 million passengers to and from China over the past 10 years, which reflects the demand for flights between China and Dubai and the growing number of flights between the UAE and China. In its statement to the Emirates News Agency (WAM), the airline noted that it currently operates five flights to China per ...

  Read More »
• 23 July

  Smart Dubai’s app processes AED4bn worth of transactions

  

  DUBAI / Emirates Business The DubaiNow platform and application has processed 7.5 million transactions, worth AED4 billion, since its launch in 2015, making it the city’s preferred portal for transactions with government services, asserted Smart Dubai and the Dubai Department of Finance (DoF). The application was designed to provide a single, centralised service platform that offers fast, seamless, and paperless ...

  Read More »
• 23 July

  Mohamed honoured by Chinese university

  

  BEIJING / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, was awarded an honorary professorship from China’s Tsinghua University for his role and initiatives in support of advanced science, technology and innovation. This came during the visit of His Highness Sheikh Mohamed bin Zayed Al ...

  Read More »
• 23 July

  Dewa to build 68 substations worth AED8bn in next 3 years

  

  DUBAI / WAM Dewa plans to build 68 new 132/11 kilovolt (kV) substations over the next three years, at a projected value of AED8 billion. This supports the directives of the wise leadership, and shows Dewa’s commitment to expanding its infrastructure to meet the growing demand for power in Dubai. “We are inspired by the vision of His Highness Sheikh ...

  Read More »
• 23 July

  Etisalat profit surges 3.1% to AED4.4b in first half of 2019

  

  ABU DHABI / WAM The consolidated net profit of the Etisalat Group amounted to AED4.4 billion during the first half of the year ending on June 30, representing a 3.1 percent increase year-on-year. According to financial results, the subscriber base reached 143 million, representing a year-on-year increase of two percent. While the consolidated revenues reached AED25.9 billion, the consolidated EBITDA ...

  Read More »