May, 2018

• 2 May

  Emirates Islamic wins accolades

  DUBAI / Emirates Business Emirates Islamic has won ‘best Islamic banking brand’ award from Global Brands Magazine, an independent leading brand publication that was established with the aim of honouring excellence in brand performance. The award reaffirms the bank’s excellence in innovation, improvement in customer service, and overall credentials as a leading Islamic bank in the UAE. Wasim Saifi, Deputy ...

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• 2 May

  Dubai automotive parts trade valued at AED39.9bn in 2017

  

  DUBAI / Emirates Business Dubai’s trade for auto parts and accessories was valued at AED39.9 billion in 2017, a three percent increase over the previous year (AED38.7 billion), according to figures released by Dubai Customs on Wednesday. Imports of tyres, batteries, engine components and systems into Dubai were valued at AED22.35 billion last year, while the value of exports and ...

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• 2 May

  Adnoc arm to handle Borouge container terminal operations

  ABU DHABI / WAM Adnoc Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (Adnoc), has signed a contract with Borouge, a leading provider of value creating plastics solutions, to handle its Ruwais container terminal operations. The five-year contract, awarded through a competitive bidding process, is the first deal signed between Borouge and Adnoc ...

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• 2 May

  Transguard posts record revenues of AED2.3 billion

  

  Dubai / WAM UAE-based Transguard Group on Wednesday released its annual figures for the financial year ending March 31, revealing another record, with revenue, profitand headcount increasing across the board. The figures, audited by PricewaterhouseCoopers, highlight the gro-up’s strength in the market, gene- rating revenue of more than AED2.3 billion, a 22% increase over the previous year and profit over ...

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• 2 May

  Space start-ups see $2.5bn investments

  Abu Dhabi / Emirates Business A total of 217 space sector start-ups and entrepreneurs received funding exceeding $2.5 billion throughout 2017, with 14 having been founded in the Middle East, audiences heard at the final day of the Global Aerospace Summit in Abu Dhabi. Of the 217, 121 are based in the US, according to Mark Boggett, Managing Director of ...

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• 2 May

  UAE and New Zealand keen to bolster trade, investment ties

  

  Wellington / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met Winston Peters, New Zealand’s Deputy Prime Minister and Minister of Foreign Affairs. During the meeting, the two sides discussed means to advance relations between the UAE and New Zealand, and to strengthen frameworks of cooperation across various sectors, including the trade ...

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• 2 May

  ADFD launches third cycle of internal excellence award

  

  Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, on Wednesday launched the third cycle of its Internal Excellence Award. In line with the Abu Dhabi government’s strategy to promote excellence across government and public sector institutions in the emirate, the award reaffirms the Fund’s commitment to encouraging innovation and creativity ...

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• 2 May

  Strata, Italian company to collaborate in aerospace sector

  

  Abu Dhabi / Emirates Business Strata Manufacturing PJSC (Strata), the advanced composite aerostructures manufacturing company wholly owned by Mubadala Investment Company PJSC (Mubadala), signed a Cooperation Agreement (CA) with Dema SpA, the Italian aerospace company headquartered in Naples. The agreement will enable Strata and Dema SpA to create a roadmap that will enable both companies to transfer knowledge and exchange ...

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• 2 May

  Mashreq leads Stanbic Kenya loan syndication for $100mn

  DUBAI / Emirates Business Mashreq bank, the UAE’s leading financial institution closes a $100 million dual tranche syndicated term facility for Stanbic Kenya Bank Limited (Stanbic Bank Kenya) – a subsidiary of the Standard Bank Group (SBG). The transaction closed nearly two and a half times oversubscribed. Mashreq, the sole coordinating bank and book-runner for Stanbic Bank Kenya’s fourth international ...

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• 2 May

  Impact of VAT in UAE under focus at Noor Bank meet

  

  DUBAI / Emirates Business Noor Bank, one of the leading Shari’a-compliant banks in the UAE, on Wednesday announced the launch of the Noor Business Council (NBC), which is a thought leadership platform. Bringing together SMEs and large corporate clients of Noor Bank, the NBC has been designed to serve as a platform to discuss topics relevant to the business landscape, ...

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