July, 2019

• 3 July

  Oil gains on US inventory drop

  

  Bloomberg Oil gained after suffering its biggest drop on the day of an Opec meeting in more than four years. Futures rose 0.8 percent in New York after an industry report showed US oil inventories fell by almost 5 million barrels last week. Prices were still far from recouping the 4.8 percent decline, when concerns about the global economy overshadowed ...

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• 3 July

  AED240mn Albania infrastructure projects launched, says ADFD

  

  TIRANA / WAM Abu Dhabi Fund for Development, ADFD, has launched infrastructure projects in Albania valued at AED240 million ($65 million). A delegation of the fund led by Adel Al Hosani, Director of Operations Department at ADFD, participated in the official inauguration of the final phase of ADFD funded projects in capital Tirana, the Tirana Northern Boulevard and Tirana River ...

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• 3 July

  UAE central bank issues commemorative coin

  ABU DHABI / WAM Central Bank of the UAE has issued a commemorative silver coin and a commemorative one Dirham coin, on the occasion of celebrating the 50th anniversary of establishment of Commercial Bank of Dubai (CBD) with effect from Wednesday, July 3. A bank press release said the obverse face of the coin depicts the logo of the occasion ...

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• 3 July

  ‘Falcon Eye’ to strengthen national security

  ABU DHABI / WAM The UAE’s new satellite ‘Falcon Eye’ — which will be launched into orbit next Saturday – has taken four years to be ready, going through several stages, ending up in being shipped from the French city of Toulouse to the French city of Guiana on June 1. The satellite is designed to provide global coverage for ...

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• 3 July

  Factors vital to to meet climate action objectives outlined

  

  ABU DHABI / WAM Experts at the path-breaking Abu Dhabi Climate Meeting, the precursor to the UN Climate Action Summit set to take place in September 2019 in New York, outlined a series of key recommendations that they believe are non-negotiable if the global community is to meet targeted climate action objectives. The first of these is driving green economy ...

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• 3 July

  Dubai property prices continue to be attractive: Survey

  

  DUBAi / Emirates Business As we move into the second half of 2019, the property prices in Dubai continue to be attractive for both tenants and investors as per Bayut’s latest H1 market report. Based on the comparison of prices between H2 of 2018 to H1 of 2019 there is a perceivable shift in interest towards competitively-priced areas when it ...

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• 3 July

  First Saudi German Clinics launched in Jumeirah, Dubai

  Emirates Business Saudi German Hospitals Group has launched its first Saudi German Clinics at Umm Suqueim3 Jumeriah Road, Dubai, inaugurated by HE Humaid Al Qutami Director General of Dubai Health Authority and Dr Marwan Al Mulla CEO of the Health Regulation Sector, in the presence of Dr Reem Osman — Group CEO — SGH UAE. Saudi German Clinics allows quality ...

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• 3 July

  Adnic creates 195mn newly converted shares

  Dubai / Emirates Business Abu Dhabi National Insurance Company (Adnic) has completed the conversion of the mandatory convertible bonds it issued on June 15, 2016 into shares after reaching their three-year term. Following the conversion, Adnic’s paid up capital increased to AED570 million and the total number of Adnic shares to 570 million. The 195 million newly converted shares are ...

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• 3 July

  UAE citizens can buy Union Coop shares from September

  Dubai / Emirates Buisness Union Cooperative, the largest Consumer Cooperative in the UAE, announced that all UAE citizens will soon be able to buy their shares and investing in Union Coop. HE Majid Hamad Rahma Al Shamsi, Chairman of Union Coop said: “This decision is a result of continuous efforts made by the Board of Directors over the past years ...

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• 3 July

  DP World launches initiative to attract investments from India

  

  Dubai / WAM DP World, UAE Region has launched ‘The India-UAE Bridge’, a major initiative that will attract Indian trade and investments to its flagship Jebel Ali Port and Jafza by offering end-to-end solutions to companies and entrepreneurs. A joint collaboration of DP World UAE Region, Jafza and the Indian Business and Professional Council (IBPC), the solutions delivered under the ...

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