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Dubai / WAM DP World has announced that it completed the acquisition of an additional 66.67% stake in Empresa Brasileira de Terminais Portuarios (Embraport) in Brazil from Odebrecht Transport (OTP). This transaction increases DP World’s shareholding to 100% and the terminal will be rebranded to DP World Santos. The purchase consideration is below 5% of DP World’s net asset value ...

ABU DHABI / WAM UAE stock markets on Monday made decent gains of AED5.5 billion driven by listed property companies and banks, with ADX General Index closing up 1.02 percent to 4326 and DFM General Index growing 0.34 percent against the last session to 3431. The upward movement of Emaar which jumped 2.8 percent to AED7.76 reflected positively on the ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) signed a Memorandum of Understanding with the National Health Insurance Company, Daman, to collaborate and consult on initiatives to promote the growth and development of the insurance-related FinTech ecosystem, InsurTech, in Abu Dhabi and the UAE. The MoU was signed by Dr Michael Bitzer, CEO of Daman, and Richard Teng, CEO ...

ABU DHABI / WAM The UAE Central Bank’s reserve of gold bars amounted to AED1.129 billion by the end of October, a growth of 11.2% from AED1.015 billion by the end of 2016. The month of April saw the CB resuming gold holdings after eight years during which the banks’ reserves were confined to a foreign currency basket, primarily US ...

Dubai / Emirates Business Dubai breaks into the Top 30 Global Cities ranking for the first time, according to JLL’s annual Global Cities Ranking, ‘Global300’ survey focused on evaluating 300 cities that are centered around commercial real estate activity. Ranking 27th place out of the 300 cities surveyed, Dubai moved up ranking in each successive year from 36th place in ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has said that the 46th National Day is testimony to the fact that no matter what the challenges are, the determination of honest leaders to prioritise the wellbeing and prosperity of citizens over everything else always prevails. In a statement issued through the ...

Abu Dhabi / WAM The Scottish government has appointed its first Scottish trade envoy to the UAE and in the MENA region, reflecting the significance of the UAE to Scotland and the UK. Nick Maclean will serve in the position as part of Scotland’s plans to extend its worldwide business reach with the appointment of a team of trade envoys ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued a Resolution forming a Joint Cooperation Committee between the United Arab Emirates and Saudi Arabia. In its first article, the Resolution stipulates the establishment of a joint committee for cooperation and coordination between the UAE and the Kingdom of Saudi Arabia, to be jointly chaired ...

SHARJAH / WAM The first Women’s Economic Empowerment Global Summit (WEEGS 2017) was inaugurated on Monday in the presence of His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, his wife, Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of NAMA and Honorary Patron for Global Women’s Inclusion, and several high-ranking government ...

ABU DHABI / WAM Abu Dhabi National Exhibitions Company (ADNEC), on Monday announced that the electronic registration is open for local and international exhibitors, visitors and media persons wishing to participate in the 2018 editions of Unmanned Systems Exhibition and Conference, UMEX, and Simulation Exhibition and Conference, SimTEX. Organised by ADNEC, UMEX and SimTEX 2018 will run from February 25-27, ...