August, 2017

• 5 August

  Sanctions! Assad allies got $18mn in UN Syria payouts

  

  The United Nations paid at least $18 million last year to companies with close ties to Bashar al-Assad, some of them run by cronies of the Syrian president who are on US and European Union blacklists. Contracts for telecommunications and security were awarded to regime insiders including Rami Makhlouf, Assad’s cousin. UN staff ran up a $9.5 million bill at ...

  Read More »
• 5 August

  Noble Group destined to fail, Iceberg says, defying lawsuit

  

  Noble Group Ltd. received a fresh broadside from Iceberg Research as the trader’s long-time foe predicted that the commodity company will probably fail, while telling executives that the anonymous commentator won’t be silenced by being sued. The trader’s shares fell. “Noble is sinking in a perfect storm,” the researcher said in a report on Thursday. “The company is walking towards ...

  Read More »
• 5 August

  British voters are still worrying about Brexit

  

  The best thing to do with mistakes is learn from them. So as part of her vacation reading, UK Prime Minister Theresa May might want to glance at the just-released British Election Study showing what was foremost on voters’ minds as they cast ballots in the 2017 general election: Brexit The election was supposed to be a walk in Hyde ...

  Read More »
• 2 August

  Government spending hits AED8.92bn

  ABU DHABI / WAM The actual spending of federal departments amounted to AED8.92 billion during Q1 2017, with a 100 percent budget execution rate, according to a Ministry of Finance report. The Service Sector spending hit AED3.207 billion, which accounts for 36.96 percent of Q1 total spending, while AED2.384 billion went to the Public Order and Safety Affairs Sector- 26.73 ...

  Read More »
• 2 August

  Stock markets maintain gains

  ABU DHABI / WAM Blue-chips again gave a last-minute boost to the UAE stocks on Wednesday, with Emaar breaking a new high of AED8.49 despite a profit-booking spree during the first half of today’session. Accordingly, decent gains were held by the Abu Dhabi Securities Exchange General Index which was up 1.02 percent, closing at 4608 points, with the Dubai Financial ...

  Read More »
• 2 August

  Masdar gets breakthrough in ‘graphene research’

  

  Abu Dhabi / Emirates Business The Masdar Institute of Science and Technology announced a research breakthrough that provides valuable insights on the development of optimized graphene-based membranes, which aim to make water filtration and desalination more efficient and sustainable. The Masdar Institute is a part of the Khalifa University of Science and Technology. The breakthrough was made by a team ...

  Read More »
• 2 August

  Etihad puts Boeing 787 on Seoul route

  

  ABU DHABI / WAM Etihad Airways has introduced the Boeing 787-9 on its scheduled daily service from Abu Dhabi to Seoul. The aircraft touched down this morning at the South Korean capital’s space-age Incheon International Airport. The new two-class 787 Dreamliner service replaces the Airbus A340-600 aircraft previously operated on the route, and features Etihad Airways’ next-generation Business and Economy ...

  Read More »
• 2 August

  Takaful Emarat reports AED53.4mn net income

  Dubai / WAM Takaful Emarat, the DFM-listed, Shariah-compliant Life and Health Takaful provider, announced its Q2 financial results for six-month period ended June 30. Results were approved at the company’s Board of Directors meeting. Takaful Emarat reported a net profit of AED0.9 million for the first half of the year. This growth is attributed to the company’s continuous investment in ...

  Read More »
• 2 August

  MBRF hires consultancy to conduct post-fund monitoring of SMEs

  DUBAI / WAM Mohammed Bin Rashid Fund (MBRF), the financial arm of Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, has appointed Metis Management Consultancy to conduct post-fund monitoring services for all the companies supported by the Fund. The partnership will enable SMEs assisted by the Fund to have greater access ...

  Read More »
• 2 August

  Mobile app most preferred banking channel for UAE customers: Survey

  DUBAI / Emirates Business Consumers in the UAE increasingly want to be able to resolve their basic banking issues without having to speak to a bank adviser by phone, according to a new survey from Avaya. The findings reveal that customers’ most preferred channel for accessing banking services is via a mobile app, contacting bank advisers only for more consultative ...

  Read More »