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Bloomberg / WAM Emirates NBD Bank (Emirates NBD), on Monday announced its intention to increase Foreign Ownership Limit (FOL), to 40 percent in the future, and will seek necessary approvals from its shareholders and the relevant regulatory authorities, in due course. Emirates NBD also announced the implementation of an immediate increase in its FOL from 5 percent to 20 percent after ...

Bloomberg Opec’s crude production rose last month, the first increase since the group and its allies started a new round of output cutbacks at the start of the year to shore up a weak global market. Nigeria and Saudi Arabia led the boost by the Organisation of Petroleum Exporting Countries (Opec), which collectively increased by 200,000 barrels a day to ...

DUBAI / WAM Dubai Investments Park (DIP) is spurring up its investments towards the development of various infrastructure facilities, and has invested a total of AED1.5 billion ($41mn) since its inception. The enhancement projects are focused infrastructure investments across DIP and are termed top priority in line with ongoing community development planning initiatives. DIP currently offers over 140km of internal ...

Bloomberg Manufacturing across vast parts of Europe and Asia remain deeply mired in a crisis that took another turn for the worse over the weekend. One day after the US and China enacted new tariffs on each other’s imports, factories from Germany and Italy to Japan, South Korea and Taiwan sent a gloomy reminder that they are suffering badly from ...

Dubai / Emirates Business Enoc Group unveiled its two new digital ventures – ENOC Link and Beema – under its recently launched accelerator programme, NEXT, designed to unlock growth opportunities through disruptive innovation and strategic partnerships. Enoc Link is an innovative automotive refuelling service intended to deliver fuel to car owners, villa communities, commercial premises and businesses across the UAE ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa), signed an agreement with Unilever to sell 20,757 of its International Renewable Energy Certificates (i-REC), to the company, emphasising Dewa’s commitment to the environment and encouraging the use of clean energy. The agreement, which was facilitated by the Dubai Investment Development Agency (Dubai FDI), supports Unilever Middle East’s strategy to ...

Abu Dhabi / WAM Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), the inaugural edition of EuroTier Middle East, the world’s leading trade show for animal husbandry and livestock management, kicked off on Monday at the Abu Dhabi ...

DUBAI / WAM The Commercial Compliance & Consumer Protection (CCCP), Sector in Dubai’s Department of Economic Development will begin a series of field visits on Tuesday to shops and establishments in the emirate to enhance awareness within the business community on their rights and responsibilities as part of the ‘Compliance Day’ initiative. Observed in September every year, the ‘Compliance Day’ is ...

ABU DHABI / wam Two new UAE Ambassadors to brotherly and friendly countries were sworn in on Monday before His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, at Qasr Al Watan (Al Watan Palace) in Abu Dhabi. Ibrahim Salem Mohammed Al Mashrekh and Saeed Mohamed Murshid Al Maqbali were ...

Cairo / WAM The Arab League praised the UAE’s efforts, especially the work of Sharjah to establish the Arab Children’s Parliament. Dr Haifa Abu Ghazaleh, Assistant Secretary-General and Head of Social Affairs Sector at the Arab League, made her statement at the start of the preparatory meetings of the Arab Economic and Social Council of the Arab League, held today ...