April, 2019

• 22 April

  Oil leaps to 6-month high as US vows to choke Iran exports

  

  Bloomberg Crude leapt to its highest level in almost six months after the Trump administration said it wouldn’t renew Iran oil waivers for China, India and other countries once they expire in May. Futures in London traded near $74 a barrel after jumping as much as 3.3 percent and reaching the highest since early November in anticipation of the statement ...

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• 22 April

  Abu Dhabi Islamic Bank Q1 revenues rise 5.3%

  

  ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) reported a net profit growth of 1.7 percent for Q1 2019 to AED 600.3 million. Revenues increased by 5.3 percent to AED1,436.6 million driven by growth in customer financing of 2.8 percent to AED 78.1 billion, and a 57.5 percent rise in investment income, which reached AED 185.3 million, in addition ...

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• 22 April

  SMEs, smart cities drive Mena software spend to $6.2 billion

  

  DUBAI / Emirates Business The digital transformation of the Middle East and North Africa (Mena) small- and medium-sized enterprises and smart cities is driving regional software spend to top $6 billion, industry experts announced on Monday. The Mena region is a fast-growth market for digital transformation, as organisations look to gain greater business agility, better understand customer needs and trends, ...

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• 22 April

  UAE leadership is empowering nation’s youth

  

  Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said the UAE leadership is empowering the nation’s youth as part of its efforts ...

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• 22 April

  Meraas, Samanea sign deal to build AED1 billion mall

  

  DUBAI / Emirates Business The inaugural Big C Forum witnessed the signing of a Memorandum of Understanding (MoU) between Dubai-based holding company Meraas and Singapore-based Chinese company Samanea Group that will see the launch of an AED1 billion mall by Q2 2021 near Dubai International City. Six key Chinese manufacturers and businesses also signed the letter of intent. Samanea Group ...

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• 22 April

  UAE’s Hope Probe bound for Mars 85 percent complete

  

  DUBAI / WAM The UAE Space Agency and Mohammed bin Rashid Space Centre (MBRSC), announced that 85 percent of the Hope Probe project has been completed. In a joint statement, the two organisations confirmed that most of the main parts of the project have been completed and are currently undergoing intensive testing to ensure every aspect of the Probe is ...

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• 22 April

  Union Coop Q1 net profit grows 26.5% to reach AED138.5mn

  

  Dubai Emirates Business Union Coop, the largest consumer cooperative in the UAE reported a 26.5% increase in net profit for the first quarter of 2019, compared to the same period on the previous year, with an increase of AED 28.8 million. The first quarter of 2019 saw a net profit AED 138.5 million, compared to AED 109.7 million of 2018. ...

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• 22 April

  Etihad Rail, Abu Dhabi Customs to develop freight transport solutions

  ABU DHABI / WAM Etihad Rail, the developer and operator of the UAE’s national railway network, signed a Joint Partnership Agreement with the General Administration of Customs in Abu Dhabi, aimed at developing freight transport requirements, and enabling trains to travel more efficiently through the adoption of best practices and smart electronic technology. HH Sheikh Theyab bin Mohamed bin Zayed ...

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• 22 April

  UAE provides 80 tonnes of humanitarian aid to Yemeni governorates

  Aden / WAM The UAE provided 80 tonnes of humanitarian and relief assistance to the Yemeni governorates of Aden, Shabwa, and Hodeidah, during the past week. The move is part of the UAE’s continuous support to Yemen and its people under the guidance of the country’s leadership. The UAE, represented by the Emirates Red Crescent (ERC), distributed 60 tonnes of ...

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• 22 April

  Adnoc delivers UAE’s first-ever calcined coke shipment to China

  

  Abu Dhabi / WAM The first-ever shipment of UAE-produced calcined coke has begun its maiden voyage to mainland China. Some 10,500 tons of calcined coke were loaded by Adnoc Refining, a subsidiary of the Abu Dhabi National Oil Company, (Adnoc), onto the M/V Lucky Ocho, a vessel chartered by Adnoc Logistics and Services, to be delivered in Yantai, China by ...

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