May, 2018

• 21 May

  First Adnoc crude cargo reaches India’s Mangalore reserve

  ABU DHABI / WAM A delegation from the Abu Dhabi National Oil Company (Adnoc) attended, a special event at the Karnataka oil storage facility, in the Indian city of Mangalore, to celebrate the unloading of the first cargo of Adnoc crude oil sent to the Indian Strategic Petroleum Reserves Ltd (ISPRL). The cargo, which was loaded in Abu Dhabi at ...

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• 21 May

  AI to add $182 billion to UAE economy by 2035

  

  DUBAI / WAM Artificial intelligence (AI) has the potential to boost economic growth in the United Arab Emirates by 1.6 percentage points and add $182 billion to the national economy by 2035, according to a recent report by Accenture. The report looked at 15 industries in the UAE and 13 in Saudi Arabia to determine the potential sector-specific impact of ...

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• 21 May

  Abu Dhabi-based banks’ income reaches AED7.9bn

  

  ABU DHABI / WAM The net income of Abu Dhabi-based commercial and Islamic banks amounted to around AED7.9 billion during Q1 2018, up 2.8 percent over the corresponding period of 2017. According to figures released recently by the Statistics Centre — Abu Dhabi, the net income of commercial banks operating in the UAE capital, reached AED6.56 billion by the end ...

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• 21 May

  Nasdaq Dubai plans to launch equity futures on Saudi firms

  DUBAI / WAM Nasdaq Dubai, the international stock exchange in the Middle East, is preparing to launch equity futures on leading companies listed in Saudi Arabia. The futures will give investors new hedging tools to take long and short positions on the companies, at a time when international investor interest in the Saudi stock market is increasing rapidly. The Saudi ...

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• 21 May

  Dafza steps up efforts in attracting investments and trade from China

  

  Dubai / Emirates Business Dubai Airport Freezone Authority (Dafza), one of the UAE’s leading free zones, has further strengthened its ties with China through a series of initiatives focused on expanding bilateral trade and investment this year. This includes a senior government delegation visit from China that was welcomed by HE Dr Mohammed Al Zarooni, Director General for Dafza. He ...

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• 21 May

  UAE OKs 10-year residency visa for investors, specialists

  Abu Dhabi / WAM UAE Cabinet approves new long-term visa for international investors and professional talents… and 100% investors’ ownership by year end In line with UAE’s position as a primary destination for international investors and a global talents, the UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE ...

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• 21 May

  Dubai Airports to save 20% on annual energy bill with Siemens solution

  

  Dubai / WAM Dubai Airports will use Siemens’ data analytics and smart building technology to guarantee annual energy savings of almost 20 percent per year at Dubai Airports’ facilities, by implementing energy efficiency measures at Terminal 1, Terminal 2, Terminal 3 and Concourse B at Dubai International (DXB). Focusing on air and water systems, the seven-year project is expected to ...

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• 21 May

  Hamdan approves new organisational structure of DLD

  Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, issued Executive Council Resolution No. 17 of 2018 approving the new organisational structure of the Dubai Land Department (DLD). The new structure includes the Real Estate Regulatory Agency (RERA), the Dubai Real Estate Institute (DREI), and the ...

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• 21 May

  WGES 2018 to focus on green capital, digital transformation

  DUBAI / WAM The annual World Green Economy Summit (WGES 2018), will be organised in Dubai to tackle global issues and important strategies, including the digital age and its impact on building a ‘green’ and sustainable future growth across industries. This was announced on Monday by the organising committee of the fifth WGES 2018. WGES is set to take place ...

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• 21 May

  Khalifa Foundation to offer 10,000 food parcels to residents in Socotra

  

  ABU DHABI / WAM The Khalifa bin Zayed Al Nahyan Foundation has launched a Ramadan project that aims to provide 10,000 food parcels, to the residents of Socotra through a maritime and aerial bridge, which will benefit over 50,000 people. The project is a realisation of the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and is ...

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