June 20th, 2018 | 0 commentsEmirates NBD has signed an agreement with Amwal Brokerage under which the UAE-based bank will provide Amwal with its settlement and clearing services. In 2017, the UAE Securities Commodities Authority (SCA) approved Emirates NBD's request to be a general clearing member in local markets. “We are delighted to have been chosen by Amwal Brok...
June 20th, 2018 | 0 commentsThe Abu Dhabi Investment Authority (ADIA) announced that its Private Equities Department (PED) has reached an agreement to buy up to 21.4% stake in the UK insurer Pension Insurance Corporation Group (PIC). PIC’s financial assets amounted to more than $23.9 billion, supporting the benefits of more than 150,000 individuals, according to ADI...
June 20th, 2018 | 0 commentsThe Dubai Financial Market’s (DFM) general index closed in decline on Tuesday, shedding 43.25 points, or 1.45%, to close at 2,939.33 points. The DFM’s trading volume reached 148.39 million shares, while the market’s liquidity hit AED 239.22 million. The consumer staples sector lost 3.23% after DXB Entertainments retreated 3.54%. The real...
June 20th, 2018 | 0 commentsThe Abu Dhabi Securities Exchange’s general index (ADX) lost 26.63 points, or 0.58%, to close at 4,561.64 points, pressured by the energy, banks, and telecommunication sectors. The ADX’s trading volume reached 38.31 million shares, while the market’s liquidity amounted to AED 153.753 million. The energy sector shed 1.78% after Taqa droppe...
June 20th, 2018 | 0 commentsThe UAE topped the GCC in terms of foreign investments in 2017, with total foreign investments of $10.35 billion out of $15.45 billion injected in the GCC. Oman and Saudi Arabia ranked second and third, making up 12.1% and 9.2% of foreign investments in the GCC, according to an official statement. The UAE comes second among investment att...
June 20th, 2018 | 0 commentsThe UAE has announced the banning of imports of all species of domestic and wild live birds, ornamental birds, chicks, hatching eggs, meats and meat products, and non-heat-treated wastes from a group of bird flu-infected regions in Russia. Taken by the Ministry of Climate Change and Environment (MoCCAE), the decision was based on a report...
June 19th, 2018 | 0 commentsGulf Navigation Holding’s board of directors has approved issuing senior unsecured mandatory convertible sukuk. The sukuk’s value will be AED 100 million, according to a statement to the Dubai Financial Market (DFM). The company last reported a 5% growth in its gross profits, reaching AED 10.15 million in the first three months of 2018. -...
June 19th, 2018 | 0 commentsTo avoid prolonging the Yemeni war for years, Houthi rebels must withdraw their forces "unconditionally" from Hodeida, a UAE minister said on Monday. Speaking during a media briefing in Dubai, Dr Anwar Mohammed Gargash, UAE Minister of State for Foreign Affairs, said the Arab coalition's operation to liberate the Yemeni port city of Hodei...
June 19th, 2018 | 0 commentsDubai's investments in solar power have exceeded AED 20 billion now, managing director of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer said. The emirate’s investments in solar power will reach AED 50 billion by 2030, Al Bayan reported, citing Al Tayer as saying. DEWA’s investments in the energy sector will surpass...
June 19th, 2018 | 0 commentsThe total value of the UAE’s top 10 under-construction real estate projects stood at AED 55 billion ($15 billion) during the first quarter of 2018, data by PNC Real Estate showed. These projects varied between average and luxury housing to shopping malls, in addition to the development of health facilities, according to Al-Ittihad newspap...
