February, 2019

• 9 February

  MTN prepares share sale of African retailer Jumia

  

  Bloomberg African online retailer Jumia is planning an initial public offering in New York this year that could value the business at about $1.5 billion, according to people familiar with the matter. Jumia’s largest shareholder MTN Group Ltd. is planning to raise as much as $600 million from selling its shares through the IPO, said one of the people, who ...

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• 6 February

  Pope Francis: UAE visit wrote new page in Christianity-Islam history

  VATICAN / WAM His Holiness Pope Francis, Head of the Catholic Church, reflected on his Journey to the United Arab Emirates, at his General Audience on Wednesday. The journey to the UAE “wrote a new page in the history of dialogue between Christianity and Islam,” His Holiness the Pope said, affirming that the visit underlined the commitment to “promote peace ...

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• 6 February

  Adnoc awards AED5b contract for Ghasha concession islands

  

  Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced the award of a dredging, land reclamation and marine construction contract to build multiple artificial islands in the first phase of development of the Ghasha Concession. The contract awarded to the UAE’s National Marine Dredging Company (NMDC) is valued at AED5 billion ($1.36 billion) and will ...

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• 6 February

  UAE and Pakistan explore collaboration in job market

  DUBAI / WAM Nasser bin Thani Al Hameli, Minister of Human Resources and Emiratisation, met Zulfiqar Hussain Bukhari, Special Assistant to Prime Minister for Overseas Pakistanis and Hum-an Resource Development. The two sides re-affirmed their countries’ commitment towards developing the historic ties between the two nations in terms of work force. The meeting touched on the country’s strategic policies and ...

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• 6 February

  Oil pares loss as Opec curbs offset US output concerns

  

  Bloomberg Oil steadied below $54 a barrel as signs of weakening economic growth from Europe to the US and a reported increase in American crude stockpiles were offset by supply curbs from Opec and its allies. Futures in New York fell as much as 1.5 percent before paring losses. Growth concerns were fueled by a drop in German factory orders, ...

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• 6 February

  Dubai reduces traffic fines by up to 100 pct

  Dubai / WAM Dubai Police have launched an initiative that will entitle drivers to a 100 percent reduction on existing fines, under the condition that drivers do not commit any violations for a full calendar year starting from February 2019. Under the new initiative, drivers who do not commit any traffic violations for three months will be eligible for a ...

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• 6 February

  Sheikh Mohamed attends Third Forum of UAE’s Ambassadors

  

  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, on Wednesday attended part of the Third Forum of UAE’s Ambassadors and Representatives of Diplomatic Missions, which started on February 2 and will wrap up on Thursday. His Highness Sheikh Mohamed attended panel sessions ...

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• 6 February

  FNC approves draft law regulating practice of medical profession

  

  Abu Dhabi / WAM The Federal National Council (FNC), during its session on Wednesday at its headquarters in Abu Dhabi headed by its Speaker, Dr. Amal Abdullah Al Qubaisi, approved a draft federal law regulating practising the medical profession. Its provisions apply to all those who practice or request to practice the profession inside the country including the free zones. The ...

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• 6 February

  Dubai Islamic Bank lists $750mn Sukuk on Nasdaq Dubai

  Dubai / WAM Dubai Islamic Bank (DIB), rang the market-opening bell on Wednesday to celebrate the listing of a $750 million Sukuk on Nasdaq Dubai. The Sukuk was 4.9 times oversubscribed with a profit rate of 6.25 per cent per annum, with nearly 40% of investor interest coming from outside the Middle East. As a perpetual non-call 6-year Sukuk, it was ...

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• 6 February

  Khalifa Fund inks $25 million pact to support SMEs in Niger

  Abu Dhabi / WAM Hussain Jasim Al Nowais, Chairman of Khalifa Fund for Enterprise Development, and Saadou Sidou, Nigerien Minister of Trade and Private Sector Development, have signed a $25 million (AED92 million) agreement aimed at providing support for micro, Small and Medium-sized Enterprises (SMEs), in Niger, where the amount will be distributed in equal instalments. This came during a ...

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