August 20th, 2018 | 0 commentsEmployees of Union Coop launched 'Sons of Zayed Al Khair Parcels' initiative as an immediate aid to the flood-affected areas of Kerala, India. The move is in response to the directives of the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Ministe...
August 20th, 2018 | 0 commentsEgyptian Iron & Steel (IRON) announced in a statement sent to EGX, the Board of Directors was held on August 18. The Board unanimously approved cancellation the tender No. 16607 pertaining development and rehabilitation Egyptian Iron & Steel based on TATA Steel company's report issued on July 27, 2018, that stipulated TATA Steel a...
August 20th, 2018 | 0 commentsDubai-based developer Union Properties has reported a profit of Dh24.7 million ($6.7 million) attributable to shareholders for the second quarter compared to a loss of Dh2.29 billion for the same period last year. Announcing the results for the six-month period, Union Properties said profit for the first half of 2018 stood at Dh207 millio...
August 20th, 2018 | 0 commentsThe Eid Al Adha holiday is expected to increase Ras Al Khaimah’s hotel occupancy rates to more than 80% over the long weekend celebrations, the Ras Al Khaimah Tourism Development Authority (RAKTDA) said. The emirate, which is only 45 minutes away from Dubai International Airport, offers its visitors exceptional value for money packages du...
August 20th, 2018 | 0 commentsTrade exchange between the UAE and the United Kingdom fell by 15.2% to AED 24.25 billion (GBP 5.25 billion) during the first half of 2018, versus AED 29 billion in H1-17. Total UAE exports to the UK went down 18.5% to AED 7.87 billion in during the six-month period ended 30 June, compared to AED 9.65 billion in the same period of the prio...
August 20th, 2018 | 0 commentsThe Abu Dhabi Securities Exchange (ADX) closed Sunday in the red, weighed by real estate, telecom, and consumer staples. The general index shed 0.45% or 21.95 points to close at 4,884.92 points. The consumer staples sector retreated 4.79% after Agthia's stock dropped 5.24%, while the real estate sector declined 0.86% after Eshraq Properti...
August 20th, 2018 | 0 commentsThe Dubai Financial Market (DFM) closed Sunday in the green, breaking a nine-session falling streak to end on a positive note ahead of the Eid Al Adha holiday. The DFMGI gained 0.44% or 12.47 points and closed at 2,815.79 points. The consumer staples sector led risers, adding 2.1% after DXB's stock grew 3.34% to AED 0.35. The banks sector...
August 19th, 2018 | 0 commentsSome 704 prisoners are being released from detention ahead of Tuesday’s Eid holiday after the president of the UAE issued a pardon. UK-based rights group ICFUAE said: “UAE President Sheikh Khalifa pardoned charges and ordered the release of 704 inmates on Monday, in celebration of Eid Al Adha.” The group added that no political prisoners...
August 17th, 2018 | 0 commentsDubai International Financial Centre (DIFC) Courts has appointed joint provisional liquidators to supervise the winding up of Abraaj Capital Limited (ACL). DIFC Courts also decided to prevent ALC from initiating new work or transferring funds to Abraaj Investment Management (AIML), its related entity, or any affiliates, along with halting...
August 17th, 2018 | 0 commentsDP World has said that its net profits fell 2% to $593 million in the first six months of 2018, from $606 million during H1-17. Dubai's state-owned ports operator’s revenues rose to $2.62 billion during the six-month period ended June, from SAR 2.29 billion during H1-17, according to a statement. DP World, the world's fourth-biggest ports...
