November, 2018

• 17 November

  Snubbed American Airlines logo to get another copyright review

  

  Bloomberg American Airlines raised a stink over the US government’s refusal to give its logo copyright protection — and that may get results. The US Copyright Office has repeatedly deemed the airline’s flight symbol to be lacking in creativity, finally prompting the company to sue the head of the agency a month ago. A spokesman for the carrier said that ...

  Read More »
• 14 November

  Adnoc to invest AED5.1bn to boost onshore crude capacity

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced an AED5.1 billion ($1.4 billion) investment to upgrade and expand its Bu Hasa field that will increase crude oil production capacity to 650,000 barrels per day (bpd). This is an important step towards delivery of Adnoc’s 2030 smart growth strategy that seeks to increase its crude ...

  Read More »
• 14 November

  FTA: Tax refunds for tourists scheme to go live on Nov 18

  DUBAI / WAM The Federal Tax Authority (FTA) announced digital system for tax refunds for tourists scheme will be ready to issue and process VAT refund claims for eligible tourists to recover tax incurred on their purcha-ses as of Sunday, November 18, at Abu Dhabi, Dubai and Sharjah airports. The authority revealed preparations are underway for phase 2 of the ...

  Read More »
• 14 November

  ADGM begins cross-border fintech sandbox testing

  

  Emirates Business The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has initiated world’s first cross-border testing of fintech digital sandbox connectivity with Asean Financial Innovation Network (AFIN) between Abu Dhabi and Singapore. This is a continuation of ADGM’s first announcement in September to launch its fintech digital sandbox. To ...

  Read More »
• 14 November

  Damac revenues hit AED5.2bn

  DUBAI / Emirates Business Damac Properties Dubai Co announced financial results for the first nine months of 2018, reporting total revenue of AED5.2 billion ($1.42 billion), gross profit of AED1.9 billion and net profit of AED1.1 billion. During the first nine months of 2018, Damac delivered 3,800 units, compared to 1,923 units in the same period in the previous year. ...

  Read More »
• 14 November

  Tabreed records 10% increase in 9-month profit

  DUBAI / WAM National Central Cooling Company, Tabreed, on Wednesday, released its financial results for the first nine months of 2018, reporting a 10% increase in net profit to AED319.3 million for the year up to September 30, compared with the same period in 2017. Tabreed’s latest financial results follow its announcement last month that it successfully issued a $500 ...

  Read More »
• 14 November

  UAE invests its oil, gas resources in the best interest of country

  

  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 visited the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) at the Abu Dhabi National Exhibition Centre (Adnec) and which concludes on November 15. His Highness Sheikh Mohamed bin Zayed, accompanied by ...

  Read More »
• 14 November

  ADFD commits $50mn for Irena-recommended renewable energy projects

  

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) and the International Renewable Energy Agency (Irena) are inviting applications for more than $50 million in funding through the Irena/ADFD Project Facility. The ADFD-financed initiative is available to government-guaranteed renewable energy projects in developing countries that seek to increase energy access, improve livelihoods and advance sustainable development. ADFD has committed ...

  Read More »
• 14 November

  Solar Decathlon Middle East 2018 opens in Dubai

  Dubai / wam His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, Chairman of the Dubai Supreme Council of Energy, on Wednesday inaugurated the Solar Decathlon Middle East (SDME 2018). Held under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown ...

  Read More »
• 14 November

  Sharjah Ruler inspects vital projects

  Sharjah / WAM HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah on Wednesday inspected the progress of a number of vital projects during a visit to the various cities and regions located along the new Khorfakkan Road and the city of Khorfakkan. He toured a number of areas familiarising himself with the new ...

  Read More »