February, 2017

• 2 February

  DGCX trades 1.37 million contracts worth $33 billion

    DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) traded an aggregate 1.37 million contracts in January, valued at $33 billion. The exchange recorded its highest daily trading volume for 2017 on January 25 with 117,637 contracts, valued at $2.9 billion. The British Pound and Yen futures witnessed a substantial year-on-year growth in volumes, up 87 percent and ...

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• 2 February

  UAE first country to criminalise hate speech

    DUBAI / WAM The UAE is the first country to issue a law that criminalises the hate speech and prevent threats to peace and stability as experienced by other Arab and Islamic countries, according to Dr Hanif Hassan Al Qassim, Chairman of the Geneva Centre for Human Rights Advancement and Global Dialogue. He made the statement during a seminar ...

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• 2 February

  Global rise of cities poses challenge to sustainable urban development

    GENEVA / WAM The global rise of cities has been unprecedented. Every week, nearly 1.5 million people become urban dwellers. By 2050, the urban population will account for more than two-thirds of the world’s population. “Cities are evolving faster than ever and encountering unprecedented demographic, environmental, economic and social challenges. Sustainable urban development is the current global priority; however, ...

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• 2 February

  ICD issues $1 billion sukuk

    DUBAI / WAM Investment Corporation of Dubai (ICD) successfully completed the issuance of a $1 billion 10-year sukuk. The sukuk was well received by regional and international investors and generated orders exceeding $3 billion. The $1billion sukuk will be listed on the Nasdaq Dubai exchange and is the first to be issued from the region in 2017 and the ...

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• 2 February

  MoHAP showcases innovative health services at Arab Health

    Dubai / Emirates Business The Ministry of Health and Prevention (MOHAP) announced that the Ministry’s participation this year has had a strong line up of innovative health services launched globally and regionally during its participation at the Arab Health Exhibition & Congress 2017, which was hailed by participants and visitors as a success, revealing the UAE’s excellence and leadership ...

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• 2 February

  Fujairah Chamber, Khalifa Fund to prop small projects

  

    FUJAIRAH / WAM Khalifa Khamis Mattar Al Kaabi, Board Chairman of the Fujairah Chamber of Commerce and Industry, stressed his organisation’s willingness to support and harness potential of small projects that make important contributions to the national economy, as well as to encouraging youth to engage in private business. He made this statement during a meeting with Abdullah Al ...

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• 2 February

  Gulf slips, Egypt rebounds from Trump-linked slide

  

    DUBAI / Reuters Most Gulf stock markets were weak on Thursday but Egypt’s bourse rebounded after sliding for three days partly on concern that U.S. President Donald Trump’s policies could hurt the economy. The Saudi index edged down 0.03 percent as loss-making Nama Chemicals, which had soared 37 percent in the four days through on Tuesday after it announced ...

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• 2 February

  European stocks fall back as Swatch, Deutsche Bank miss

    Bloomberg European stocks fell on Thursday, trimming some of the sharp gains made in the previous session, as lower-than-expected results from Swatch Group AG and Deutsche Bank AG rattled investors. The Stoxx Europe 600 Index was down 0.2 percent at 08:17 a.m. in London. The index gained 0.9 percent on Wednesday, as industrial shares advanced on earnings reports, while ...

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• 2 February

  Japan stocks hit from abroad again as Topix wipes out 2017 gains

    Bloomberg Japan’s equity market found itself hostage to global events yet again. This time it was the Federal Reserve, which signaled it’s in no hurry to raise rates, pushing the U.S. dollar lower and strengthening the yen. Like clockwork, shares fell, with the benchmark index wiping out all gains for the year. Then the 10-year yield rose above 0.1 ...

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• 2 February

  ADFD contributes $90mn to Sudan’s power plant

  

    Abu Dhabi / WAM The Abu Dhabi Fund for Development (ADFD) contributed a US$90 million concessionary loan for the successful completion of a 320 megawatt hydroelectric power plant in eastern Sudan. ADFD officials attended the official opening of the Upper Atbara and Setit Dam Complex plant, which was inaugurated by Sudanese President Omar Hassan Al Bashir. Mohammed Saif Al Suwaidi, ...

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