June, 2019

• 23 June

  Chinese investments in UAE real estate to surge 70%

  

  DUBAI / Emirates Business Chinese investments in the UAE real estate sector is set to surge in the coming months and will grow over 70 percent during 2019, reinforcing the growth potential on offer in the country, according to Fidu Properties, one of the leading Chinese companies in the UAE property market. Chinese investments have gone up 64 percent between ...

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• 23 June

  UAE economy grows by 2.2% during first quarter

  

  ABU DHABI / WAM The non-oil sector grew 1.6 percent in Q1-2019 on year, with economic growth hitting an annual growth rate of 2.2 percent driven by a robust government and private sector performance, according to Central Bank of UAE’s Quarterly Review. The real gross domestic product is projected to grow by 2 percent over the coming period, catalysed by ...

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• 23 June

  Gulf spreads may fall as Trump favours Iran sanctions over attack

  

  Bloomberg Investors in Gulf assets breathed a sigh of relief after US President Donald Trump showed restraint against Iran. Calling off airstrikes and opting for additional sanctions on Iran eases the risk of military combat between the Persian nation and its Arab neighbours, and will probably have a positive impact on GCC spreads, according to Arqaam Capital Ltd. “While GCC ...

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• 23 June

  DMCC sees 12% growth in new companies last year

  

  Dubai / WAM The Dubai Multi Commodities Centre (DMCC) has welcomed 1,868 new companies to its free zone in 2018, marking a 12 percent growth compared to 2017. The construction of Uptown Dubai, DMCCs new district, is also well underway to accommodate the demand for additional space, DMCC announced. “We have established our position as the preferred free zone for ...

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• 23 June

  Dewa seeks to boost energy ties with Sweden

  

  DUBAI / WAM The Dubai Electricity and Water Authority (Dewa), received a Swedish delegation, where they held meetings to expand cooperation and knowledge exchange in the sustainability, water and energy sectors. Saeed Mohammed Al Tayer, Dewa Managing Director and CEO, welcomed the high-level delegation from the Swedish Council for Trade and Investment, headed by Henrik Landerholm, Ambassador of Sweden to ...

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• 23 June

  Aflaj, Qasr, Rotana and Ahlia intersections open in Al Ain

  ABU DHABI / WAM Al Ain City Municipality (ACM), and Abu Dhabi General Services Company (Musanada), have announced the opening of Al Aflaj (No. 115), Al Qasr (No. 118) and Al Ahlia (No. 166) intersections as well as Intersection No. 177 known as Rotana Intersection, in a move aimed at enhancing traffic flow and improving safety for users of the ...

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• 23 June

  Remittances by expats hit AED38.41bn in Q1-2019

  

  ABU DHABI / WAM Expats’ remittances from the UAE amounted to AED38.41 bn during Q1-2019, according to figures released by the Central Bank of the United Arab Emirates. A total of AED25 bn thereof was transferred through money exchange companies and the rest from the banks operating in the country. India took home the crown as the top-receiving country for ...

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• 23 June

  Zayed Sustainability Prize 2020 submissions up 13%

  

  Abu Dhabi / WAM The Zayed Sustainability Prize has announced a record 2,373 completed submissions for the 2020 awards. Following its 11th annual awards ceremony held in January, Prize entered a four-month submissions phase, which closed on May 30 with a record 13 percent increase in submissions over the previous year. Of the entries received, the breakdown across the Prize’s ...

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• 23 June

  UAE, Cameroon boost cooperation

  YAOUNDE / WAM Fahad Obaid Mohammad Al Taffaq, UAE Ambassador to Nigeria and Non-Resident Ambassador to the Republic of Cameroon, held meetings with a number of officials and businessmen in Cameroon, and discussed ways to strengthen cooperation with the Central African country in all fields. Al Taffaq visited the capital city Yaounde, and toured a number of institutions and bodies ...

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• 23 June

  UAE first to launch UN-developed anti-money laundering platform

  

  ABU DHABI / WAM The UAE has become the first country in the Gulf to launch a new reporting platform developed by the United Nations Office on Drugs and Crime (UNODC), to curb organised crimes. The UAE’s Financial Intelligence Unit (FYU), launched the new anti-money laundering platform ‘goAML’ , which has been open for registration since May, officials of the ...

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