August, 2017

• 15 August

  Dickies deal puts spotlight on $30bn workwear market

  

  Bloomberg Coveralls and painter’s pants are trouncing haute couture. As teen fashion and menswear all struggle to maintain sales growth, one segment of the apparel business is showing surprising strength this year: industrial workwear. VF Corp.’s $820 million acquisition of Dickies parent Williamson-Dickie Manufacturing Co., which also makes hospital garments, is the latest sign of health in the $30 billion ...

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• 14 August

  Emaar’s first-half profit up 15% to AED2.8 billion

  

  Dubai / WAM Emaar Properties PJSC recorded a 15 percent growth in net profit to reach AED2.837 billion ($772 million) during the first six months of 2017 (H1), compared to AED2.475 billion ($674 million) during the same period last year. The H1 2017 revenue reached AED7.866 billion ($2.142 billion) an increase of 8 percent over H1 2016 revenue of AED7.257 ...

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• 14 August

  Abu Dhabi’s iron, aluminum, copper trade hits AED6.8bn

  ABU DHABI / WAM The Emirate of Abu Dhabi’s trade in iron and steel, aluminum, and copper hit AED6.8 billion during the first third of 2017, a growth of 15.6 percent over the corresponding period last year, according to the Statistics Centre- Abu Dhabi. The three minerals account for 11.6 percent of the total non-oil trade across the emirate’s points ...

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• 14 August

  DAMAC posts AED1.6bn gains

  Dubai / Emirates Business DAMAC Properties Dubai Co. PJSC, a leading property developer in the Middle East, announced its first-half 2017 financial results, reporting total revenue of AED3.5 billion and net profit of AED1.6 billion. As of 30 June 2017, DAMAC’s booked sales for H1 stood at AED 4 billion, and delivered 1,071 units in DAMAC Hills, Dubai. Total cash ...

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• 14 August

  Mohammed tours Airbus plant in Hamburg

  

  HAMBURG / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum toured the Airbus Plant in the German Province of Hamburg. His Highness Sheikh Mohammed’s four-stop tour of the giant factory premises started in the department dedicated to the assembly of the basic components of the short- and mid-range ...

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• 14 August

  UAE-Mexico non-oil trade hits $1.3bn in ’16

  

  ABU DHABI / WAM The non-oil trade between the UAE and Mexico hit US$1.3 billion during 2016, with the two countries continuing to strengthen economic ties and other trade relations at different levels, according to a Ministry of Economy report. The ministry has issued the report based on the World Trade Organisation 2017 Trade Policy Review on Mexico as part ...

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• 14 August

  ADX-listed companies’ capital value amounts to AED87.1 billion

  ABU DHABI / WAM The capital value of companies listed at Abu Dhabi Securities Exchange amounted to AED87.1 billion by the end of 2016, according to official statistics. The banking sector accounts for 41.2 percent of the total capital of 13 national banks worth AED35.9 billion before the merger of the NBAD and First Gulf Bank. This is followed by ...

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• 14 August

  Major components installed at Unit 4 of Barakah N-Plant

  

  ABU DHABI / WAM The Emirates Nuclear Energy Corporation (ENEC) announced that significant progress has been made on the construction of the Barakah Nuclear Energy Plant, with the installation of the steam generators for Unit 4, the final unit at the plant. This milestone event coincides with the successful installation of Unit 4’s Reactor Vessel (RV). Jassim Mohammed Buatabh Al ...

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• 14 August

  ADNIC reports AED128.5mn H1 profit

  ABU DHABI / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, announced its financial results for the first half of 2017. The company reported a net profit of AED128.5 million for the period, an increase of 20% in profitability over the same period last year. The total assets ...

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• 14 August

  Deal on water interconnection between Dubai and Abu Dhabi signed

  

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Water and Electricity Authority (ADWEA) signed a Memorandum of Understanding (MoU) for strategic water connections and the exchange of potable water in case of emergencies, or other purposes, between Dubai and Abu Dhabi. This is part of the efforts of both parties to ensure that water security is ...

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