July, 2019

• 17 July

  Emirates NBD profits up 49%

  

  Bloomberg Emirates NBD PJSC’s first-half profit jumped 49 percent as Dubai’s biggest bank benefitted from the sale of a stake in its card payments processing unit. Net income advanced to AED7.48 billion ($2.04 billion) from 5.02 billion a year earlier, the state-controlled lender said in a statement. The bank made AED2.1 billion from the initial public offering of Network International ...

  Read More »
• 17 July

  FTA showcases progress on indirect taxes in UAE

  

  Abu Dhabi / Emirates Business The Federal Tax Authority (FTA) is invested in facilitating procedures for the value added tax (Vat) recovery on the building of new residences by UAE Nationals programme, asserted His Excellency Khalid Ali Al Bustani, FTA Director General, at a discussion held at the Majlis of HE Abdullah Muhair Al Kutbi in Al Mushrif, Abu Dhabi. ...

  Read More »
• 17 July

  Enec to sponsor Al Dhafra Summer Festival

  ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec) has announced that it is sponsoring Al Dhafra Summer Festival, a three-week event organised by the Al Dhafra Club, running between July and August 2019. The sponsorship and collaboration agreement was signed by Mohamed Al Hammadi, CEO of Enec, and Saleh Jazlan Al Mazrouei, Chairman of Al-Dhafra Club at Enec’s ...

  Read More »
• 17 July

  38 housing units delivered to low-income Emirati families

  DUBAI / WAM The Islamic Affairs and Charitable Activities Department in Dubai (IACAD) announced the delivery of 38 housing units to low-income Emirati families, in cooperation with Sheikh Zayed Housing Programme as part of the “Mudon Al Khair” (Cities of Goodness) initiative. The department also announced that the donations from individuals, government and private entities reached AED43.2 million. The move ...

  Read More »
• 17 July

  DLD, Dubai Police initiate smart home security system

  ABU DHABI / WAM Dubai Land Department (DLD), represented by its Registration and Real Estate Services sector, has announced the initiation of the partnership it had previously signed with the General Department of Criminal Investigation at Dubai Police for the new smart housing security system. Incorporating many other parties, including major real estate developers in Dubai, the agreement aims to ...

  Read More »
• 17 July

  ADFD, Gambia explore ties, investment prospects

  

  ABU DHABI / WAM Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD) met a high-level Gambian delegation to the UAE, led by President Adama Barrow of Gambia, to discuss development funding and investment opportunities in the African country. Delegates included several Gambian ministers and government officials. The meeting also drew the participation of Fansu Bojang, Ambassador ...

  Read More »
• 17 July

  Commercial Bank of Dubai H1 profit rises 25% to AED 701m

  

  Dubai / Emirates Business The Commercial Bank of Dubai (CBD) recorded a net profit of AED 701 million for the first half of 2019, representing an increase of 25 percent over the same period last year. The strong results have been attributed to broad based business improvement. The operating expenses increased marginally by 1.1 percent primarily on the back of ...

  Read More »
• 17 July

  DMCC, DLD join hands on dual licensing scheme

  

  DUBAI / WAM Dubai Multi Commodities Centre (DMCC) Free Zone and Government of Dubai Authority on commodities trade and enterprise, and the Department of Economic Development (DED) have signed a strategic memorandum of understanding (MoU) to collaborate on the licensing of companies in Dubai allowing them to operate within the Free Zone and onshore. The partnership aims to further facilitate ...

  Read More »
• 17 July

  Dubai selected as 2020 ‘Capital of Arab Media’

  CAIRO / WAM During its 50th Ordinary Session, chaired by Saudi Arabia, the Arab Information Ministers Council selected the Emirate of Dubai as the 2020 ‘Capital of Arab Media’. The Council’s decision confirms the UAE’s role in supporting Arab and international media and further recognises Dubai’s prominent media stature. Dr Sultan bin Ahmed Al Jaber, Minister of State and Chairman ...

  Read More »
• 17 July

  Ras Al Khaimah, Ghana foster business ties

  RAS AL KHAIMAH / WAM Mohamed Ali Musabbeh Al Nuaimi, Chairman of Ras al Khaimah Chamber of Commerce and Industry, and Samata Gifty Bukari, Consul-General of the Republic of Ghana in Dubai, have discussed strengthening bilateral business cooperation and investment opportunities in different sectors. Al Nuaimi underscored the importance of enhancing ties with Ghana, and the private sector in both ...

  Read More »