May, 2019

• 15 May

  NBF to teach value of money, savings to kids

  FUJAIRAH / WAM National Bank of Fujairah (NBF) announced that it took part in the Arab Financial Inclusion Day, an initiative adopted by Arab Monetary Fund (AMF), and the Council of Governors of Arab Central Banks to improve financial inclusion in the region. The bank’s participation was exhibited through the launch of its ‘Learn & Save” initiative, which focused on ...

  Read More »
• 15 May

  Sheikh Mohamed receives number of Emirati well-wishers

  

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received a number of Emirati well-wishers on the occasion of the Holy Month of Ramadan. He exchanged greetings with them and wished more prosperity and security for the UAE under the leadership of President ...

  Read More »
• 15 May

  Damac Properties reports AED896mn revenue in Q1

  DUBAI / Emirates Business Damac Properties Dubai announced financial results for the first quarter of 2019, reporting total revenue of AED 896 million, with booked sales reported at AED 1.2 billion, 15% higher than AED 1 billion recorded in Q4 2018. Gross profits for the same period stood at AED 242 million reflecting gross profit margins of 27%. Total assets ...

  Read More »
• 15 May

  UAE is continuing to enhance its success, improve quality of life

  

  Dubai / WAM His Highness Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, has chaired the first meeting of the Department of Behavioral Rewards of the Ministry of Possibilities, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai ...

  Read More »
• 15 May

  FTA celebrates 500 successful days of VAT in UAE

  Abu Dhabi / Emirates Business “The rates of compliance with tax laws and procedures have increased exponentially among all taxable businesses,” said His Excellency Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), in a press statement issued by the Authority to mark 500 days of Value Added Tax (VAT) in the UAE, which went into effect ...

  Read More »
• 15 May

  ERC intensifies Ramadan programmes in 83 nations

  

  Abu Dhabi / WAM The Emirates Red Crescent (ERC), is intensifying its Ramadan programmes and projects this year in 83 countries worth AED21,810,000 that benefit 1,435,966 people. It also launched many Ramadan programmes related to Ramadan Iftar, Zakat Al Fitr, and Eid clothes in countries suffering from major humanitarian crises and wars. The ERC is supporting Syrian refugees in countries ...

  Read More »
• 15 May

  DMCC, TradeAssets sign MoU to mitigate online transactions risk

  

  Dubai / WAM DMCC, a Free Zone for commodities trade and enterprise, on Wednesday announced its collaboration with TradeAssets, the first blockchain-powered trade finance e-marketplace of its kind for banks. Through its collaboration with DMCC Tradeflow, a dedicated flexible and customised online platform for registering possession and ownership of commodities in the UAE, TradeAssets will gain access to a larger ...

  Read More »
• 15 May

  Wanda to plow billions into China

  

  Bloomberg Billionaire Wang Jianlin is setting his sights back on China after government scrutiny of his group’s overseas deals resulted in an end to a global expansion spree. Wang’s Dalian Wanda Group Co unveiled plans to spend $11.6 billion in the northeastern city of Shenyang, the biggest of the mainland investments it announced in the past six months. The money ...

  Read More »
• 15 May

  Tencent’s profit tops estimates, reassuring skittish investors

  

  Bloomberg Tencent Holdings Ltd’s quarterly earnings beat estimates, boosted by gains on investments, giving shareholders much-needed assurance the Chinese gaming behemoth is bound for a revival. Net income rose 17 percent to 27.21 billion yuan ($4 billion) in the three months ended in March compared with the 19.4 billion-yuan average of analysts’ estimates. Revenue climbed 16 percent, about a third ...

  Read More »
• 15 May

  Tata Sons to fold food businesses into single unit

  

  Bloomberg Tata Sons Ltd is set to transfer all its branded food businesses to Tata Global Beverages Ltd from Tata Chemicals Ltd, according to people with knowledge of the matter, as India’s biggest conglomerate streamlines its corporate structure. Tata Global Beverages will buy all food brands and give shares in return to Tata Chemicals, the people said asking not to ...

  Read More »