August, 2017

• 21 August

  Goldman Sachs seeks stars to revive commodities unit

  

  Bloomberg Goldman Sachs Group Inc., seeking a rebound in its commodities business after a bout of losing trades dented earnings, has a plan built around hiring fresh stars and luring new clients. The bank will bring in a few high-profile commodities salesmen as well as some traders, an acknowledgment that the roughly 180-person unit’s performance has suffered in recent years ...

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• 20 August

  Middle East eyewear market hits AED10.4bn

  

  Dubai / Emirates Business A recent census of optician stores in the United Arab Emirates (UAE) has revealed that the power of shopping malls to attract consumer buying behaviour is growing, with a 22% rise in the number of shopping mall-based opticians since 2014. These locations now account for one third of all optician business in the Emirates. GfK, the ...

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• 20 August

  Stocks surge on selective buying spree

  ABU DHABI / WAM The UAE stock markets started the maiden session of the week on a high note following a selective buying spree targeting a series of blue chips which secured some gains over the past few days. Within this context, the DFM General Index went up 0.39 percent to 3615 points, which is an acceptable level according to ...

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• 20 August

  Reserves at UAE Central Bank reach AED125.5bn

  

  ABU DHABI / WAM The banking sector increased their statutory reserves at the UAE Central Bank by AED8.6 billion during H1, 2017, bringing to AED125.5 billion the total required reserves by the end of June 2017, according to CB statistics. Statutory reserves are the minimum liquidity banks are required to hold against client deposits without getting interests in return. The ...

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• 20 August

  DAE completes AWAS acquisition

  Dubai / WAM Dubai Aerospace Enterprise (DAE) has completed its previously announced acquisition of the AWAS group of companies in a move that propels DAE into the top tier of global aircraft lessors. DAE will now conduct its aircraft leasing business using the DAE Capital brand name. DAE Capital now features an owned, managed and committed fleet of approximately 400 ...

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• 20 August

  More young entrepreneurs turn to smart services, retail sectors

  

  DUBAI / WAM Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry has said that a total of 28 commercial projects have been launched to date by its participants with a majority of Emirati-owned businesses operating within the UAE’s smart services, retail, logistics, and food and beverage sectors. A total of AED 15.4 million worth of financing ...

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• 20 August

  Smart Dubai contact centre achieves ISO, CCA Global certifications

  

  DUBAI / WAM Smart Dubai Government Establishment contact centre has received ISO 18295 certification, Parts I and II, as well as the CCA Global Certification for Contact Centre Management. This makes the centre the first in the world to receive the ISO certificates, awarded by the Switzerland-based International Organisation for Standardisation (ISO) and the first in the region to receive ...

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• 20 August

  DEWA highlights alternative energy solutions in talks with Europe team

  

  DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) discussed with European energy companies, Dubai’s efforts to develop renewable and alternative energy, rationalise the use of natural resources, and find alternative solutions to conventional energy. The discussion took place during his meeting with a delegation of these companies which included Daniel Develay, ...

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• 20 August

  wasl’s Dubai parkside freehold community works on track

  

  DUBAI / Emirates Business wasl Asset Management Group, one of the largest real estate management and development companies in Dubai, is forging ahead at wasl1 – the company’s iconic parkside freehold master development in the heart of Dubai. Enabling works are now underway following the appointment of Kele Contracting for Phase 1 of the project. Hills & Fort Construction LLC ...

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• 20 August

  Gulf Sotheby’s acquires majority stake in SPF Realty

  

  DUBAI / Emirates Business Gulf Sotheby’s International Realty – the international luxury real estate firm and SPF Realty announce a strategic merger, which will leverage Sotheby’s International Realty world renowned brand and SPF’s expertise in achieving record-breaking project sales in unprecedented timelines. Moving forward, SPF Realty will rebrand and operate under the Gulf Sotheby’s International Realty brand. This is a ...

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