May, 2018

• 13 May

  DED issues 1,848 new trade licenses in April

  

  Dubai / WAM The Dubai Department of Economic Development (DED), has issued 1,848 new business licenses during April as the emirate remained a destination of choice for investment in diverse business sectors. The ‘Business Map’ digital platform of DED saw 26,498 business registration and licensing transactions being completed during the month as economic diversification and competitiveness continued to strengthen the ...

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• 13 May

  4,493 individuals benefit from ERC’s assistance in UAE in Q1

  

  Abu Dhabi / WAM The Emirates Red Crescent (ERC), has provided humanitarian assistance to 4,493 underprivileged families and individuals in the UAE during the first quarter of 2018. Rashid Mubarek Al Mansouri, ERC’s Deputy Head for Local Affairs Sector, said that UAE leadership continues to reiterate its support for increasing the ERC’s presence across the country with the ultimate objective ...

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• 13 May

  DIEDC signs deal to empower, expand reach of Islamic economy

  

  Dubai / Emirates Business Dubai Islamic Economy Development Centre (DIEDC) concluded its successful participation at the 10th Russia – Islamic World Kazan Summit that ran from May 10-12. Supported by the Federation Council of the Federal Assembly of the Russian Federation and the Government of the Republic of Tatarstan, the annual summit seeks to strengthen trade and economic, as well ...

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• 13 May

  SEED Agriculture to set up hydroponic farm at Rakez

  RAS AL KHAIMAH / Emirates Business SEED Agriculture, a leading innovator in agriculture methods and technology under Pegasus Food Futures, on Sunday signed an agreement with Ras Al Khaimah Economic Zone (Rakez) to acquire a total of 670,000 m2 land where it is set to establish the largest hydroponic farm in Ras Al Khaimah. The signing ceremony was held at ...

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• 13 May

  Waha Capital Q1 net profit up 22.6% to AED107mn

  ABU DHABI / WAM Waha Capital PJSC reported a 22.6 percent rise in first quarter net profit to AED107 million, driven by a strong performance by the company’s asset management division and the disposal of 3.77 million shares in AerCap. Total income for the quarter ending March 31 increased 18.9 percent year on year to AED316.2 million. This was partly ...

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• 13 May

  UAE, Socotra: Two decades of development, assistance

  Abu Dhabi / WAM The UAE has supported Yemen, especially the Socotra archipelago, for many years, as part of the directives of the late Sheikh Zayed bin Sultan Al Nahyan and President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The UAE’s historic support for the Yemeni people reflects its commitment to unify the country and improve the conditions of ...

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• 13 May

  Yemeni forces liberate Hima Port with UAE army support

  ADEN / WAM Yemen’s National Resistance Forces, backed by the UAE Armed Forces, have liberated Hima Port, situated north of Al Khawkha. This latest advance saw the collapse of Houthi militia capabilities. The Hima Port liberation is part of a large-scale military operation to dismantle Houthi militias, and liberate Yemeni cities.

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• 13 May

  Flat US yield curve is question for parade of Fed speakers

  

  Bloomberg The fate of the flattening US yield curve now rests squarely in the words of Federal Reserve officials. Bond traders have already reached their verdict. The yield spread between 5- and 30-year Treasuries narrowed last week to as little as 26.2 basis points, the lowest since August 2007. The prospect of an inverted curve, which has presaged past recessions, ...

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• 13 May

  Mahathir’s return as PM may spur moves in Malaysian stocks

  

  Bloomberg Brace for a volatile day when Malaysia’s stock market reopens Monday after a three-day break that saw the opposition party win office for the first time in six decades. Malaysia’s FTSE Bursa Malaysia KLCI Index was shut for three days as Mahathir Mohamad led an alliance to unexpectedly beat the ruling Barisan Nasional coalition. In his first remarks as ...

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• 13 May

  Sheikh Mansour launches model for Adnoc’s expansion plans in Ruwais

  

  Abu Dhabi / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, attended the Adnoc Downstream Investment Forum in Abu Dhabi on Sunday. The event brought together more than 40 leading global energy, petrochemical and other industry CEOs and 800 senior business leaders as ADNOC outlined its new downstream strategy and plans ...

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