July, 2019

• 21 July

  DWTC events contribute AED13.1b to Dubai GDP

  

  DUBAI / WAM Dubai’s economy continues to experience sustained growth from the contribution of business tourism, thereby driving the nation’s economic diversification agenda prioritised in the UAE Centennial 2071 strategy. As such, the Dubai World Trade Centre’s (DWTC) latest economic impact assessment report for 2018 saw a record AED13.1 billion, equivalent to 3.3 percent of the emirate’s gross domestic product ...

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• 21 July

  Adnic gets ‘UAE’s top corporate insurance service provider’ tag

  ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), has been adjudged ‘most outstanding in corporate insurance services — UAE’ by the Corporate LiveWire Innovation and Excellence Awards 2019. The Innovation and Excellence Awards are organised by Corporate LiveWire, a quarterly publication based in the UK, which provides information and analysis on the latest global developments to business professionals ...

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• 21 July

  China mulls buying US agricultural products

  

  Bloomberg China’s importers have started making arrangements to buy US agricultural products, Global Times’s Editor-in-Chief Hu Xijin said in a tweet, without specifying where he got the information. The possible purchase of American farm products — which adds to recent gestures of goodwill between both sides — also indicates US-China trade talks will restart soon, according to the tweet. Senior ...

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• 21 July

  Emirates NBD plans further Saudi expansion

  RIYADH / WAM Emirates NBD announced plans for further expansion in the Kingdom of Saudi Arabia following approval from the Saudi Arabian Monetary Authority, SAMA, to open 20 additional branches in the Kingdom. The announcement reflects KSA’s growing importance to Dubai’s biggest bank by assets as the United Arab Emirates continues to strengthen long-standing strategic and economic ties with the ...

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• 21 July

  Foreign investor purchases at DFM reach AED1b in H1

  

  DUBAI / WAM The Dubai Financial Market (DFM) announced its financial results for the first half of the year ending on June 30, registering a net profit of AED65.1 million. The net profit of the second quarter of 2019 reached AED37 million, a nine percent increase compared to the profits in Q2 of 2018 at AED33.9 million. “During the first ...

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• 21 July

  Dubai Chamber-led group develops start-up banking solutions

  DUBAI / WAM New banking and licencing solutions tailored to the needs of start-ups, an uptick in the number of fintech start-ups specialising in SME banking and increased cooperation between UAE banks and the country’s start-up ecosystem, are among the key achievements outlined by the Dubai Chamber-led working group on SME banking. The working group, in cooperation with Smart Dubai, ...

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• 21 July

  Chinese culture an integral part of global culture

  ABU DHABI / WAM Chinese culture and heritage is an integral part of global culture, said Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development. She went on to note that cultural ties between the UAE and China witnessing significant growth, in light of strategic partnership initiatives between the two countries. In an interview with the Emirates News ...

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• 21 July

  UAE to become a shining pearl along Belt and Road

  

  BEIJING / WAM The UAE “will become a shining pearl along the Belt and Road,” a senior Chinese official said on Sunday, as His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, started his state visit to China. Sheikh Mohamed bin Zayed’s visit to China “will go ...

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• 21 July

  Senegalese president lauds ties with UAE

  

  DAKAR / WAM President Macky Sall of Senegal welcomed an official UAE delegation led by Hussain Jasim Al Nowais, Chairman of the Khalifa Fund for Enterprise Development (KFED) to the Senegalese capital, Dakar. During the delegation’s visit, President Sall praised the strong ties and friendly relations between his country and the UAE. He also expressed his country’s keenness towards supporting ...

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• 21 July

  UAE, Gambia sign pact on employment practices

  ABU DHABI / WAM The UAE and Gambia signed a memorandum of understanding (MoU) to reinforce their cooperation in implementing the best employment practices and regulating temporary contractual work related to Gambian employees in the UAE. The MoU was signed by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, and Mamadou Tangara, Minister for Foreign Affairs, International ...

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