News

Media IN Dubai 21st-07-2019 Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, on Sunday announced that it has awarded contracts valued at over AED 100 million to extend its cooling service pipeline network at Dubai Production City (DPC). Under the contracts, Empower’s network will be …

Media IN DUBAI, 21st July, 2019 (WAM) Dubai is adopting a new technology based on artificial intelligence to fight counterfeit products in the city. The department of Commercial Compliance and Consumer Protection (CCCP) at Dubai Economy is using a technology developed by the US company ‘Entrupy’, to help detect counterfeit …

Media IN Abu Dhabi  21st-07-2019 The Abu Dhabi Securities Exchange (ADX) closed Sunday’s trading session on a positive note on the back of the banks sector. The ADX’s general index inched up 17.24 points, or 0.33%, to 5,235.37 points.   Trading volume amounted to 69.871 million shares exchanged through 811 transactions …

Media IN Abu Dhabi  21st-07-2019 WAM Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, and the Bahrain-based Islamic multinational banking group Al Baraka Banking Group on Sunday announced the signing of a memorandum of understanding (MoU). Upon the MoU, the strategic alliance will offer their clients …

Media IN SHARJAH, 21st July, 2019 (WAM) A delegation from Sharjah Finance Department, SFD, has visited Tokyo, Japan, and met with key Japanese finance officials to discuss various possibilities that can help bolster relationships between the two sides. The meetings were held at the Japan Bank for International Cooperation, JBIC, …

Media IN ABU DHABI, 21st July, 2019 (WAM) The vital projects between the UAE and China reflect the close cooperation between the two countries and the UAE’s strategic role in supporting the success of China’s ‘Belt and Road’ initiative as the gateway to the Middle East and North Africa. The …

Media IN Dubai  21st-07-2019 Emirates NBD, a UAE-based leading banking group, announced it is looking to expand its footprint in Saudi Arabia. This major move comes after the bank obtained the Saudi Arabian Monetary Authority’s (SAMA) approval to open 20 additional branches in the Kingdom, according to a press release. …

Media IN FUJAIRAH, 21st July, 2019 (WAM) National Bank of Fujairah (NBF), listed on the Abu Dhabi Securities Exchange (ADX), reported a 15.1% year-on-year growth in its net profit for the first half of 2019, recording AED 357.1 million.  NBF has achieved an AED 567 million in operating profit in …

Media IN Riyadh 21st-07-2019 IMF expects Saudi Arabia’s real non-oil growth to strengthen to 2.9 per cent in 2019 as government spending and confidence increase, but real GDP growth is projected to slow to 1.9 per cent as real oil growth slows to 0.7 per cent with the implementation of …

Media IN ABU DHABI, 20th July, 2019 (WAM) Bilateral trade between China and the UAE reached US$11.2 billion in the first quarter of 2019, a 16.21 percent increase compared to the same period in 2018, said Ni Jian, the Chinese Ambassador to the UAE. “China-UAE trade is expected to maintain …