July, 2019

• 17 July

  Mubadala signs deal for stakes in two Indonesian gas blocks

  

  Abu Dhabi / WAM Mubadala Petroleum has announced the signing of an agreement with Premier Oil to farmout a 20 percent participating interest in each of the Andaman I and South Andaman Gross Split Production Sharing Contracts, PSCs. Mubadala Petroleum is the operator of both the Andaman I and adjacent South Andaman PSCs. Dr Bakheet Al Katheeri, Mubadala Petroleum’s Chief ...

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• 17 July

  UAE among fastest adopters of computer-delivered IELTS

  DUBAI / WAM The UAE is one of the world’s fastest adopters of computer-delivered IELTS testing, according to British Council. IELTS — the high-stakes English language test — introduced its computer-delivered version earlier this year. The UAE ranks second place globally for adoption of new format, behind China in first place and in front of India, placing third. The UAE ...

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• 17 July

  Oil fades over weak US fuel demand

  

  Bloomberg Americans burned through a lot less gasoline and diesel fuel than expected last week, feeding into investor angst over oil demand. Futures slid as much as 1.1 percent in New York on Wednesday, declining for a third straight day, after the US Energy Information Administration said stocks of gasoline and distillate fuels grew by a combined 9.25 million barrels ...

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• 17 July

  UAE, Gambia to boost ties

  ABU DHABI / WAM President Adama Barrow of the Republic of Gambia has expressed his country’s interest in promoting economic and investment cooperation with the United Arab Emirates. This came during a meeting with Mohamed Helal Al Muhairi, Director-General of the Abu Dhabi Chamber of Commerce and Industry, at the Emirates Palace in Abu Dhabi. Preident Barrow, during the meeting, ...

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• 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 ...

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• 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. ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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