April, 2018

• 23 April

  Latvia secures US help to clean up its scandal-tainted banks

  

  Bloomberg Latvia’s financial investigators will receive more US help as the Baltic nation races to emerge from a money-laundering scandal that toppled its third-largest lender. Finance Minister Dana Reizniece-Ozola has agreed technical assistance from the US Treasury Department for the country’s financial intelligence unit following her meetings with US officials in Washington. She doesn’t expect other Latvian institutions to follow ...

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• 22 April

  Adnoc to operate service stations in Saudi Arabia

  ABU DHABI / WAM In a significant milestone for Adnoc Distribution’s international growth plans, the Saudi Ministry of Municipal and Rural Affairs (MOMRA) has awarded the company a license to own, operate and manage service stations in the Kingdom. The announcement was made in Riyadh on Sunday. Adnoc Distribution announced plans to open at least one service station in the ...

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• 22 April

  Founder’s Memorial opens to public

  ABU DHABI / WAM The Founder’s Memorial, a permanent national tribute commemorating the late Sheikh Zayed bin Sultan Al Nahyan, welcomed members of the public for the first time on Sunday as it celebrated its official opening. Situated on the Abu Dhabi Corniche, the memorial invites visitors to embark on a journey of discovery into the life and legacy of ...

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• 22 April

  Nakheel awards contract for AED825 million Dubai mall

  

  DUBAI / WAM Master developer Nakheel on Sunday awarded a contract worth AED595 million for the construction of Nad Al Sheba Mall, its new, 1.4 million square foot shopping, dining and entertainment destination that has a total development value of AED825 million. Nakheel has appointed Metac General Contracting Company to build the mall, which will have 200 shops, restaurants and ...

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• 22 April

  DCT Abu Dhabi signs deal to advance cultural tourism

  ABU DHABI / WAM The Department of Culture and Tourism — Abu Dhabi on Sunday announced that it has signed a Memorandum of Understanding (MoU) with Al Dana Leather Product Factory, Al Mandoos. This follows DCT Abu Dhabi’s long-term strategy to transform Emirati-owned businesses into exceptional leisure attractions for visitors and tourists, thus creating unique experiences with deep insights into ...

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• 22 April

  Tourism industry adds $1.9bn to Sharjah’s GDP

  

  SHARJAH / WAM Khalid Jasim Al Midfa, Chairman of the Sharjah Commerce and Tourism Development Authority, said the tourism sector in Sharjah has contributed over AED7 billion ($1.91 billion), or 8.5 percent, to the emirate’s total gross domestic product (GDP) of AED83 billion. He also said that the yearly number of tourists visiting Sharjah exceeds 1.7 million, which is the ...

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• 22 April

  UAE Central Bank withdraws AED6bn of surplus liquidity

  ABU DHABI / WAM The UAE Central Bank has withdrawn AED 6.00 billion out of excess liquidity in the market during March after it met the market needs for cash in January and February. The move fits within the Central Bank’s mandate to direct the country’s credit policy, and to regulate and oversee the monetary and banking policy, ensuring their ...

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• 22 April

  Citibank launches its new cashback credit card in UAE

  Dubai / Emirates Business A study conducted by Citi and Publicis Media has revealed 67 percent of residents in the UAE consider cashback to be one of the most important features of a credit card. In response to the survey’s findings, Citi UAE launched the Citi cashback credit card. The new Citi cashback credit card addresses client preferences by providing ...

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• 22 April

  UAE visitors to Finland up 30%

  ABU DHABI / WAM The number of visitors from the UAE increased by 30 percent to almost 10,000 in 2017, the Finnish tourist authority, Visit Finland, has highlighted as the government entity makes its debut on the exhibition floor during Arabian Travel Market (ATM) 2018. Speaking at a press conference during ATM on Sunday, Visit Finland representative, Teemu Ahola said, ...

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• 22 April

  Dubai Airports to promote Dubai Parks and Resorts

  

  DUBAI / WAM Dubai Airports and DXB Entertainments owner of Dubai Parks and Resorts announced a strategic partnership with aim of creating an unparalleled airport experience while showcasing Dubai’s position as the ultimate tourist and family entertainment destination in the region. The partnership will showcase Dubai Airports’ efforts to make Dubai International (DXB) a destination in its own right while ...

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