July, 2019

• 15 July

  Al Tayer, Spanish envoy talk ways to boost cooperation

  Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa) has welcomed Antonio Alvarez Barthe, Spanish Ambassador to the UAE, and Erik Rovina Mardones, Head of the Spanish Trade Office in Dubai. The meeting touched on ways to further develop cooperation between Dubai and Spanish companies, especially in the fields of electricity, water, ...

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• 15 July

  ADGM initiates regulatory regime for ‘robo-advisors’

  

  ABU DHABI / WAM The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Monday issued its regulatory framework for digital investment managers (also known as ‘robo-advisors’), operating in ADGM. Digital Investment Managers provide investment management services using algorithm-based tools and technology to interact with more tech-savvy clients. This technology allows investment managers to provide tailored investment ...

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• 15 July

  DGCX, Nepal exchange ink pact on commodity trading

  DUBAI / WAM The Dubai Gold & Commodities Exchange (DGCX) and the Multi Derivatives Exchange Nepal (MDX), a proposed derivatives exchange in Nepal, announced the signing of a memorandum of understanding (MoU), agreeing to collaborate and share knowledge on areas of mutual benefit surrounding commodity trading. DGCX and MDX will host workshops and meetings to further the scale of the ...

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• 15 July

  High levels of trust for UAE nuke program: Poll

  

  ABU DHABI / WAM A new national poll on nuclear energy has shown that UAE residents are in favour of, and have a strong understanding of the UAE Peaceful Nuclear Energy Programme. The poll revealed some of the highest favourability rates for nuclear energy in the world – higher than any other nuclear energy producing nations. The poll was commissioned ...

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• 15 July

  DXB installs region’s largest airport solar energy system

  DUBAI / WAM Dubai Airports (DXB) and Etihad Energy Services Company (Etihad ESCO) have announced the successful installation of a solar energy system comprising 15,000 photovoltaic panels at Dubai International’s Terminal 2 – the largest at any airport in the region. With a capacity of 5MWp, the solar project will generate 7,483,500 kWh energy annually for Dubai Airports, resulting in ...

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• 15 July

  Abu Dhabi fund in hiring mode as it scales up active investment

  

  Bloomberg Abu Dhabi’s top sovereign wealth fund is hiring as it boosts active management of its estimated $697 billion portfolio. Abu Dhabi Investment Authority (Adia) plans to “add a number of new positions, mostly within investment and research-focussed roles” in its fixed income and treasury department this year, according to its annual report. The fund almost matched the performance of ...

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• 15 July

  FTA reports 110% rise in authorised tax agents in 2019

  

  DUBAI / Emirates Business The first half of 2019 saw the number of authorised tax agents increase by more than 110 percent to exceed 370 Agents, up from 176 by the end of 2018, asserted the Federal Tax Authority (FTA) as it hosted the second meeting of tax agents. The authority noted that the growth in the number of authorised ...

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• 15 July

  90% of people in UAE use digital banking

  ABU DHABI / WAM According to numerous studies conducted by official authorities, such as the Federal Competitiveness and Statistics Authority, the percentage of digital banking users in the UAE rose to 90 percent while the percentage of ATM users reached 100 percent, reflecting the growing automation of the country’s banking sector. The same studies also show that many UAE residents ...

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• 15 July

  Dubai Parks and Resorts records 5% increase in visitors in second quarter

  

  DUBAI / WAM Dubai Parks and Resorts on Monday announced that it has attracted 641,000 visits in Q2 2019, up from 612,000 in 2018, representing a growth of five percent. In celebration of Philippines Independence Day, Dubai Parks and Resorts launched an exclusive bundle offer for Filipino residents in the UAE, providing access to all the parks, for non-stop entertainment ...

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• 15 July

  ADFD disburses AED92b in development aid, investments

  

  ABU DHABI / WAM In a report marking its 48th anniversary, Abu Dhabi Fund for Development (ADFD), the national entity for international development aid, has announced that it has allocated about AED92 billion in development funding and investments to 90 beneficiary countries. Since its inception on July 15, 1971, the fund has disbursed AED43 billion in concessionary loans, AED46 billion ...

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