March, 2019

• 3 March

  UAE-Ireland to strengthen economic, commercial ties

  

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, and Pat Breen, Minister of Trade, Employment, Business, as well as European Union (EU), Digital Market and Data Protection of Ireland, discussed ways of reinforcing economic and commercial cooperation between the UAE and Ireland. The meeting, which took place in Dubai on the sidelines of the 9th Emirati ...

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• 3 March

  UAB net profit reaches AED77mn in 2018

  

  SHARJAH / WAM United Arab Bank (UAB), reported its financial results for the 12 months ended on December 31, 2018. UAB reported a net profit of AED77 million in 2018 which represents an increase of 345 percent compared to 2017 as the successful execution of its Transformation Strategy paved the way for a return to sustainable profitability. UAB embarked on ...

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• 3 March

  Dafza net profit grows by 5% in 2018

  

  Dubai / Emirates Business The Dubai Airport Freezone Authority (Dafza) announced that its 2019 budget has increased significantly to AED 1 billion. This increase is a reflection of Dafza unwavering commitment to continuously increase its contribution to Dubai trade. Dafza’s investment in new expansion projects is estimated to be around AED 780 million representing 78% which comes in support to ...

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• 3 March

  Dubai Municipality to build 50 new playgrounds by year-end

  

  Dubai / WAM Dubai Municipality has begun building 50 playgrounds and squares for children in residential areas throughout the city. The project, carried out under the directives of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, is a result of his keenness to provide residents with healthy lifestyles, ...

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• 3 March

  UAE flights to Quetta, Lahore resume

  

  Abu Dhabi / WAM The UAE General Civil Aviation Authority (GCAA), announced the resumption of flights to Pakistan and allowed airlines registered in the UAE to resume flights to Quetta International Airport and Allama Iqbal International Airport in Lahore. The move, GCAA said, follows the positive developments in Pakistan.

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• 3 March

  Exhibitors report strong sales at Dubai Boat Show

  

  Dubai / Emirates Business The 27th edition of the Dubai International Boat Show (DIBS), came to an end, with many exhibitors reporting strong sales – including debut deals for the world’s first “flying” yacht, born and developed right here in the UAE. ENATA’s Foiler – which mimics the sensation of flying through its unique design – was one of the ...

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• 3 March

  ADIB named Best Islamic Bank in the Middle East

  

  Abu Dhabi / WAM The Abu Dhabi Islamic Bank (ADIB), a leading financial institution, was named “Best Islamic Bank in the Middle East” and “Best Islamic Bank in the UAE” at the EMEA Finance Middle East Banking Awards 2019. The recognition highlights ADIB’s record of delivering innovative Sharia’a compliant products to its customers, while consistently providing high-quality personalised services, both ...

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• 3 March

  South Africa’s oil hub woos global traders with million-barrel tanks

  

  Bloomberg What started as a strategic oil storage for South Africa during apartheid is now gearing up to attract the biggest traders as it turns into a global center for crude. A venture building a dozen new interconnected tanks on Africa’s southern tip will add to neighbouring government-owned capacity, making it one of the world’s biggest hubs. They are on ...

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• 3 March

  Sanction-stained oil sits off Venezuela

  Bloomberg Venezuela is running out of space to store its sanction-stained crude that few dare to buy, forcing it to reduce output at a time when the world is thirsty for heavy, sulfurous oil. Tankers holding 8.36 million barrels of Venezuelan crude worth upwards of a half-billion dollars are floating off the country’s coast as the nation struggles to find ...

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• 3 March

  Enbridge pipeline delayed in hit to Canada oil sector

  

  Bloomberg In a major blow to the Canadian oil industry, Enbridge Inc. now expects the replacement and expansion of its Line 3 crude oil pipeline to be in service about a year later than expected. The project, previously slated to start shipping crude in the fourth quarter of this year, is now expected to enter service in the second half ...

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