May, 2017

• 16 May

  Dubai launches initiative to certify e-commerce sites

  Dubai / WAM Dubai Economy launched a new initiative to certify e-commerce websites, as part of its efforts to protect consumers, resolve their complaints and ensure best practices in online transactions. The “Digital Protection” service is aimed at e-commerce companies offering their services in mainland Dubai, as well as the free zones in the emirate. Mohammed Ali Rashed Lootah, CEO ...

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• 16 May

  UAE provided AED502 million to Yemeni health sector

  

  Abu Dhabi / WAM The UAE has provided the Yemeni health sector, during the period 2015 to 2017, with financial assistance amounting to AED502 million to support its medical and health services in emergency cases, combat contagious diseases and provide basic healthcare, as well as to train heath sector employees. This is within the framework of the UAE’s desire to ...

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• 16 May

  Chef Middle East opens AED75mn food distribution centre at DIP

  

  Dubai / Emirates Business Chef Middle East, a leading regional supplier of the finest quality foods to the hotel, dining and airline industries, inaugurated its new AED 75 million world-class distribution centre at Dubai Investments Park (DIP). Omar Al Mesmar, General Manager of DIP, attended the grand opening and cut the ceremonial ribbon to officially open the massive 10,000 square ...

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• 16 May

  Emirates Transport posts AED182.4mn net profit for 2016

  

  DUBAI / WAM Emirates Transport (ET), announced net profits of AED182.4 million for 2016, an increase of 25 percent on 2015, as revenues also rose to AED2.395 billion, recording an increase of 10 percent on the previous year. The figures were revealed in the federal transport corporation’s Annual Report 2016. Mohammed Abdullah Al Jarman, General Manager of ET, said the ...

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• 16 May

  SHUAA Capital gets ‘market maker’ status on ADX

  

  Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX), granted SHUAA Capital International Ltd. a subsidiary of SHUAA Capital a licence to serve as Market Maker on the Exchange. The number of registered Market Makers on ADX has now reached three, including National Bank of Abu Dhabi and Al-Ramz Capital. The announcement was made during an event in ADX, organised ...

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• 16 May

  AFZ opens grand offices building

  

  AJMAN / WAM Ajman Free Zone (AFZ) inaugurated the “Grand Offices” building on Tuesday morning, on Sheikh Khalifa bin Zayed Street, close to all the city’s necessary facilities to fulfil the business needs of investors. During the inauguration, Mahmoud Khalil Al Hashemi, Director-General of Ajman Free Zone, stressed that new office space location was in response to the growing demand ...

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• 16 May

  Global oil market rebalancing speeds up, inventories lag: IEA

  

  LONDON / Reuters The global oil market is rebalancing and the pace at which supply and demand are falling into line is picking up, even if inventories still fail to reflect the impact of OPEC supply cuts, the International Energy Agency said on Tuesday. In its monthly report, the IEA kept its global demand growth forecast for 2017 unchanged at ...

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• 16 May

  Kuwait joins Saudi Arabia, Russia to seek oil cuts into 2018

  

  Bloomberg Kuwait joined Saudi Arabia and Russia in supporting an extension of oil-output cuts by OPEC and other global producers through the first quarter of 2018 to help trim global stockpiles. An extension of the cuts at already agreed-upon volumes is needed to reach the goal of paring world inventories to their five-year average, Kuwait’s Oil Minister Issam Almarzooq said ...

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• 16 May

  Oil rides longest rising streak in over a month

  

  Bloomberg Oil rode its longest rising streak in more than a month as a proposal by the world’s two biggest crude producers to extend output curbs into 2018 boosted confidence that other nations will follow suit. Futures climbed for a fifth day in New York, adding to a 2.1 percent jump after the Saudi and Russian energy ministers said they ...

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• 16 May

  Malaysia’s Petronas gets flexible on LNG contracts

  KUALA LUMPUR / Reuters Malaysia’s state energy firm Petronas may try shorter-term LNG contracts and smaller cargo sizes to entice buyers, senior company officials said, at a time when it has major contracts coming up for renewal and the market is awash in supply. The liquefied natural gas (LNG) marketing drive at Petroliam Nasional Berhad, or Petronas, coincides with rising ...

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