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Cairo / AFP Bad weather including heavy fog caused two major traffic accidents in Egypt on Sunday that left at least 22 people dead, officials said. The deadlier accident saw 16 people killed and 21 wounded in multiple car crashes near Beni Sueif on the highway linking Cairo to Upper Egypt, police said. Two dozen vehicles were involved in the …

Abu Dhabi / EMIRATES BUSINESS The UAE Cabinet retreat on post-oil phase concluded on Sunday. Federal and local government officials took part in the retreat and discussed ideas and initiatives that will contribute in diversifying the UAE’s economy and ensuring its sustainability. Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and …

AJMAN / WAM Fund Khalifa for Enterprise Development organized the thirteenth Tawasul Forum in Ajman. That comes as part of the Fund’s interest to spread the quality initiatives aimed at enhancing the business environment and the different regions within the UAE. Ahmed Al Hashemi, manager of Ajman branch said, “Khalifa Fund will continue working towards creating the appropriate environment for …

DUBAI / EMIRATES BUSINESS Dubai Electricity and Water Authority (DEWA)’s Risk Management department, in collaboration with the UK’s Business Continuity Institute (BCI), has organised a series of programmes to raise awareness about business continuity management. The move is part of DEWA’s on-going commitment to adopting to the highest standards of practice, to assure business continuity in the event of any …

DUBAI / EMIRATES BUSINESS Al Mazaya Holding has announced its financial results for the fiscal year ended December 31, 2015. The announcement was made following a meeting of the board of directors that was held on January 28, 2016. The meeting was chaired by Chairman Rashid Al Nafisi and attended by members of the board and the group’s CEO. Addressing …

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 3.03% to close at 4095.68 points. Accordingly the Market Capitalization has gained 19.52 Billion AED attaining 664.37 Billion AED. A total of 0.88 Billion Shares were traded with a total value of 1.11 Billion AED during the trading session of 2016-01-31 through 11591 transactions. The number of companies which …

ABU DHABI / EMIRATES BUSINESS Finance House (FH) announced its Corporate Credit Rating of “BBB-” (Long-Term) and “A3″ (Short-Term). With both Investment Grades recently affirmed by Capital Intelligence (CI), the international credit rating agency, Finance House demonstrates solidly stable outlooks, while maintaining the same Credit Rating for three consecutive years. While affirming the above ratings in a recently released Credit …

The DFM General Index increased 4.9 percent to the highest level since Jan. 6, taking its three-day gain to 11 percent. The measure’s 30-day volatility is near the highest in a year following the swings in January. Abu Dhabi’s ADX General Index advanced 3.7 percent. First Gulf Bank PJSC was the biggest contributor to gains with a 12.4 percent jump, …

Henry Meyer / Bloomberg The latest bid to end five years of war in Syria gathered some momentum as the main opposition group arrived in Geneva for United Nations-sponsored talks, though it refused to lift a threat to boycott the peace process. The Saudi-backed High Negotiations Committee, whose delegation landed in the Swiss city on Saturday, said it will have …

Berlin / AFP Support for German Chancellor Angela Merkel’s conservative alliance has slumped to its lowest since July 2002 as opposition over her liberal refugee policy grows, a survey showed on Sunday, while a right-wing populist party polled a record high. According to the poll published by the Bildam Sonntag newspaper, public support for Merkel’s Christian Democratic Union and sister …