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DUBAI / WAM The Board of Directors of UAE Banks Federation (UBF) held its first meeting of the year via videoconferencing to discuss the latest developments in the UAE banking sector as well as progress of key concerns. During the meeting, the Board of Directors discussed UBF’s current priorities, which in light of the worldwide outbreak of Covid-19 include ensuring ...

ABU DHABI / WAM The National Takaful Company (Watania) announced positive financial results for 2019, as the company’s net profit increased to AED13.1 million, compared to AED9.4 million in 2018. While announcing financial results of company, Dr Ali Saeed bin Harmal Al Dhaheri, Chairman of the Board of Directors of the National Takaful Company, declared that the company has launched ...

SHARJAH / WAM Dana Gas, a regional private sector natural gas company, on Tuesday announced its intention to pursue a feasibility study studying a potential demerger of its upstream business into a new company, which, as part of the demerger, will also be listed on the Abu Dhabi Stock Exchange (ADX). Currently, the Sharjah-based company owns upstream oil and gas ...

SHARJAH / WAM The Expo Centre Sharjah recently held a virtual meeting to ensure the smooth functioning of the various departments and services, as part of the precautionary measures taken by the centre to maintain the health and safety of employees and customers and cope with the government’s preventive measures amid the Covid-19 outbreak. Headed by Saif Mohammed Al Midfa, ...

ABU DHABI / WAM Abu Dhabi Power Corporation, ADPower, announced — alongside its subsidiary, Emirates Water and Electricity Company (EWEC) — the signing of a Memorandum of Understanding (MoU) with the Abu Dhabi Waste Management Centre, Tadweer, to facilitate the development of two waste-to-energy, WtE, plants in Abu Dhabi and Al Ain. Upon completion, the plants would have the potential ...

DUBAI / WAM Aligning with Dubai Government’s economic stimulus programme, Dubai International Financial Centre (DIFC) will introduce a series of fiscal easing initiatives over the next three months from April 1 to June 30, 2020 to help protect the financial services industry and all businesses operating in the Centre. Five initiatives will be introduced on a conditional basis, offering businesses ...

DUBAI / WAM Al Ramz, a financial institution in the UAE, has announced the expansion of its market-making activities on Nasdaq Dubai to strengthen its status as the leading provider of liquidity on all listed futures. The move supports liquidity in the exchange’s futures market on behalf of investors who wish to take positions on the price moves of UAE ...

DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has said that the government of Dubai is fully committed to supporting Emirates Airline during the current global climate. As a shareholder of Emirates, the government of Dubai will inject equity into the company, considering its strategic ...

Sharjah / Emirates Business As early as January 2019, an unprecedented 70.8 million people had been forcibly displaced worldwide. Against the backdrop of these overwhelming numbers, the Sharjah-based global humanitarian organisation, The Big Heart Foundation (TBHF), continued to intensify its philanthropic efforts in 2019 in the vital sectors of emergency relief, healthcare, education and livelihood with the strategic inclusion of ...

DUBAI / WAM Enoc Group has urged customers to make use of the safety offered by ENOCPay, its cashless and cardless payment platform accepted across all its retail service stations in the UAE, in line with the UAE government’s efforts to maintain social distancing following the Covid-19 pandemic, With ENOCPay, customers can refuel with zero contact with machines or fuel ...