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Sharjah / WAM HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council (SEC), chaired on Tuesday the meeting of the Executive Council at the Ruler’s Office. The meeting discussed a number of topics on its agenda on developing government work of the development projects in all vital ...

Dubai / Emirates Business The Dubai Financial Market (DFM) on Tuesday announced an incentives program to encourage new IPOs and listings from private sector companies representing numerous rapidly growing economic sectors that strongly contribute to GDP as well as the new-economy related firms. The program encompasses unprecedented incentives including financial support to the cost of private companies’ IPOs on DFM’s ...

Abu Dhabi / Emirates Business Abu Dhabi Islamic Bank’s (Adib) Board of Directors on Tuesday appointed UAE national Nasser Abdulla Al Awadhi as Adib’s new Group Chief Executive Officer starting from January 9, 2022 subsequent to UAE central bank approval. Nasser brings over 33 years of experience in banking and is a leading practitioner in Islamic finance, having held a ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Tuesday announced record investments worth up to almost $6 billion (AED22 billion) to enable drilling growth as it boosts its crude oil production capacity to 5 million barrels per day (mmbpd) by 2030 and drives gas self-sufficiency for the UAE. The announcement was made at the Abu Dhabi ...

Dubai / WAM Edge Group entity (EPI), the precision engineering backbone of the UAE’s aerospace and defence industry, and Strata Manufacturing (Strata), the advanced manufacturing facility wholly-owned by Mubadala Investment Company PJSC (Mubadala), signed a framework agreement which will further boost the establishment of a sustainable aerospace industry in Abu Dhabi. The agreement between the two UAE companies, signed by ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan issued the Federal Decree – Law No.33 of 2021 on the regulation of labour relations in the private sector that will take effect from February 2, 2022. The new decree-law seeks to enhance the elasticity, resilience and sustainability of the labour market nationwide, as well as ensure ...

Dubai / WAM Emirates announced at the Dubai Airshow 2021 on Tuesday that it will retrofit 105 of its modern wide-body aircraft with its Premium Economy product, in addition to other cabin enhancements. The 18-month retrofit programme, scheduled to begin at the end of 2022, will be entirely conducted at Emirates’ state-of-the-art Engineering Centre in Dubai. It will see 52 ...

Two of the world’s richest men, fighting over a near-bankrupt Indian retailer, have made so much noise that its board has woken up super cranky. In less than a week, the three independent directors of Future Retail Ltd have shot off two letters to the country’s competition authority, alleging that Amazon.com had deliberately misled the regulator about the true nature ...

There’s an old joke about a traveller asking for directions on a country road. “If I was going there,” the local guide eventually concludes, “I wouldn’t start from here.” That’s the situation President Joe Biden was expected to face in working out how to re-establish a dialogue on trade with China’s President Xi Jinping in their virtual summit. If you ...

It’s not often you hear someone brag about buying coffee with “money” — unless you’re moving among Bitcoin circles. Being able to use the cryptocurrency at chains like Starbucks Corp and Pizza Hut is being touted as a payments revolution by the looks of various selfies and videos coming out of El Salvador. President Nayib Bukele established Bitcoin as legal ...