July, 2016

• 20 July

  Mohamed bin Zayed, Emir of Qatar discuss ways to boost fraternal ties

  

    Doha / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and H.H. Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar, have examined ways of promoting fraternal relations between the two countries and their brotherly peoples, as well as overall regional and international issues ...

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• 20 July

  ADIA strides ahead, fulfills its mission

  

    Abu Dhabi / WAM The Abu Dhabi Investment Authority (ADIA) on Wednesday published its 2015 ADIA Review, providing a thorough overview of its activities over the past year and the outlook for the year ahead. It includes a detailed analysis of market conditions across the many asset classes in which the authority invests and explains developments within each of its ...

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• 20 July

  DED sees surge in new, renewed biz licenses

  

    Dubai / WAM The Department of Economic Development (DED) in Dubai saw a substantial increase in the number of transactions related to business licenses as well as the number of licenses issued during the second quarter (Q2) of 2016. A total of 119,630 transactions were done during the period, which was 34.9 percent higher than 88,688 transactions carried out during ...

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• 20 July

  Emirates Post Group adds 2 more countries to network

    Dubai / WAM The Emirates Post Group has added South Africa and Uzbekistan to its Express EMS network, enabling UAE customers to send documents and other shipments to these two countries. EPG’s Express EMS service now covers 111 countries globally, providing customers with a cost-effective and speedy channel to send shipments internationally. Chief Commercial Officer of EPG, Ibrahim Bin Karam, ...

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• 20 July

  Khalifa Varsity students represent UAE at Sheikh Zayed Institute’s Innovators Programme in Washington

  

    Abu Dhabi / WAM Four students from Khalifa University (KU) participated in the Sheikh Zayed Institute for Paediatric Surgical Innovation’s annual Student Innovators Programme (SIP), a summer programme taking place at the Children’s National Medical Center in Washington, DC. The students were selected alongside 20 others from universities around the world, and will have access to world-class paediatric healthcare facilities ...

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• 20 July

  Mashreq posts 9.4% growth in operating profit in first half

    Dubai / Emirates Business Mashreq, one of the leading financial institutions in the UAE, on Wednesday has reported its financial results for the first half ending June 30, 2016. The bank has posted a net profit for the first of 2016 AED 1.1 billion, which stable compared to the normalized net profit of 1H 2015. Mashreq’s CEO, HE AbdulAziz ...

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• 20 July

  US home construction posts solid gain in June

  

    AP Construction of new homes posted a solid increase in June, led by a surge of building in the Northeast and the West. The Commerce Department said that housing starts rose 4.8 percent to a seasonally adjusted annual rate of 1.19 million from a revised 1.14 million in May. The June reading was the highest level since February, but ...

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• 20 July

  Aberdeen’s discounted property sale shows post-Brexit stress

  

    Bloomberg What’s the cost of having to raise money quickly by selling London real estate? Almost 15 percent based on the sale of two properties on Oxford Street, the UK’s busiest shopping thoroughfare, since Britain voted to leave the European Union. Aberdeen Asset Management Plc’s UK Property Fund accepted a 15 percent price cut to sell a building on ...

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• 20 July

  CMHC doesn’t see bubble in condo mkt

  

    Bloomberg Developers now are making sure they reach a higher level of sales before they begin construction on Toronto condominium projects, contrary to the housing bubble that unfolded in the city in the 1980s, Canada Mortgage & Housing Corp. (CMHC) said. Work began on 79 percent of condo buildings only after developers pre-sold at least 70 percent of the ...

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• 20 July

  Washington state invalidates common mortgage provision

    AP Laura Jordan came home from work one day to find herself locked out. She had missed two mortgage payments, and the company servicing her loan had changed the locks without warning. In a ruling this month, the Washington Supreme Court found that action illegal — a decision that clears the way for a federal class-action case that Jordan ...

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