July, 2017

• 17 July

  National Bank of Fujairah Q2 profit up 24.4 percent

  

  FUJAIRAH / WAM National Bank of Fujairah (NBF) announced its results for the six month period ended June 30, 2017. It shows a net profit of AED154.9 million in second quarter of 2017, Q2, a rise of 24.4 percent over the corresponding quarter of 2016. On the back of a strong Q2 2017 performance, NBF reported a net profit of ...

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• 17 July

  EGA’s savings from employee suggestions hit AED17 million

  ABU DHABI / WAM Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, announced that savings from implementing employee suggestions have reached AED 17 million since the start of the year, with employees making over 18,000 suggestions for operational and technical improvements since the year began. EGA’s employee suggestion scheme is a foundation ...

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• 17 July

  Dubai Police, RIT-Dubai sign deal

  

  DUBAI / Emirates Business Dubai Police signed a Memorandum of Understanding (MoU) with the Rochester Institute of Technology, Dubai campus (RIT-Dubai), a leading American University based in Dubai Silicon Oasis (DSO). The agreement opens doors for collaboration between the two parties towards boosting the knowledge, skills, and expertise of police officers serving the emirate of Dubai. Dr Juma Al Matrooshi, ...

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• 17 July

  DP World, Indonesia sign deal to develop port, trade infrastructure

  

  Dubai / WAM An agreement was signed between global trade enabler DP World and Indonesian government and port officials to advise on the development of the Kuala Tanjung greenfield port and logistics zone and Belawan port in North Sumatra. As part of a Technical Assistance Contract, DP World will share its expertise and experience in increasing efficiencies, training and development ...

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• 17 July

  ADCorp launches operations in ADGM

  

  Abu Dhabi / WAM ADCorp announced on Monday the launch of its operations in Abu Dhabi Global Market, making it the first Islamic financial institution located in ADGM. Making the announcement, Jassim Alseddiqi, Executive Chairman of ADCorp, said, “We are pleased with the launch of operations at ADCorp after having received the relevant regulatory approvals. We have a strong team ...

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• 17 July

  Sheraa-powered ‘Yalla Pickup’ secures AED1mn in funding

  

  SHARJAH / WAM ‘Yalla Pickup’, a mobile application and web-based solution to order pickup trucks to move large consignments, has received a fresh lease of AED1 million in funding from its strategic partner ‘The Box’, provider of self-storage and transportation of goods services in the UAE. Catering to both businesses and individual customers, Yalla Pickup allows a smartphone, Android or ...

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• 17 July

  SEDD issued 33,149 licenses during H1

  SHARJAH / WAM Sharjah Economic Development Department (SEDD) has completed 33,149 issued and renewed licenses in Sharjah in the first half of 2017, according to the data released in its Licenses Annual Report of the year. According to a press statement, the report showed that the licenses renewed through the first half of the year reached 30,103, whereas May was ...

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• 17 July

  UAE to host IAEA N-energy meet

  

  ABU DHABI / WAM The Ministry of Energy has announced that the UAE will host the upcoming IAEA International Ministerial Conference on Nuclear Power in the 21st Century, taking place in Abu Dhabi from October 30 to November 1. The conference is being organised by the International Atomic Energy Agency (IAEA) in cooperation with the Nuclear Energy Agency (OECD/NEA) and ...

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• 17 July

  MoF assigns EDB ‘mortgage of movable property’ project

  

  DUBAI / WAM The Ministry of Finance (MoF) assigned Emirates Development Bank (EDB) to create an electronic register to publicise related rights to ‘Mortgage of Movable Property’. Khalid Ali Al Bustani, Assistant Under-Secretary of International Financial Relations Sector at the ministry and Rashid Mahboob Misbah, Acting CEO of EDB, in Dubai signed an agreement to this effect. The collaboration aims ...

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• 17 July

  Turkey adds troops in Qatar amid Saudi-led isolation

  

  Bloomberg Turkey is building up its military presence in Qatar, an adviser to President Recep Tayyip Erdogan said, in defiance of a Saudi-led bloc’s demand that the Turkish military pull out of the emirate. “Turkey’s steady buildup continues there, protecting the border and the security of the Qatari government,” adviser Ilnur Cevik said on Monday by phone. Turkey has deployed ...

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