October 19th, 2018 | 0 commentsAbu Dhabi Smart Solutions and Services Authority (ADSSSA) has signed a deal with IBM to cooperate in artificial intelligence development and applications. ADSSSA will work with IBM to create a Centre of Excellence for Artificial Intelligence (AI) in Abu Dhabi, as reported by Arabian Business. The two parties signed a memorandum of underst...
October 19th, 2018 | 0 commentsAl Ramz Corporation Investment and Development reported a 13% year-on-year drop in net profit for the first nine months of 2018. Net profit fell to AED 29.8 million during the January-September period of this year, versus AED 34.17 million in the prior-year period, Al Ramz Corporation said in a statement. Profits amounted to AED 4.32 mill...
October 19th, 2018 | 0 commentsEmirates NBD has raised a three-year loan worth $2 billion. The loan was raised last month through 18 banks, a bank representative told Reuters. They added that Emirates NBD was going to use the proceeds to refinance an existing loan worth $1.7 billion. “As a result of strong interest in the facility, Emirates NBD [was] able to upsize the...
October 19th, 2018 | 0 commentsThe Dubai Financial Market (DFM) finished Thursday with a positive performance for the second session in a row after its benchmark index levelled up 16.23 points, or 0.59%, to 2,757.73 points. The DFM’s traded volume stood at 157.13 million shares, down from 216.27 million on Wednesday, while trading value decreased to AED 159 million, fr...
October 19th, 2018 | 0 commentsThe Abu Dhabi Securities Exchange’s (ADX) general index rose 0.64% or 31.77 points to close at 4988.74 points on Thursday, encouraged by an increase in the heavyweights’ gains. The ADX’s trading value dropped to AED 109.176 million after 27.48 million shares changed hands. The services sector saw a 2.59% increase as Abu Dhabi Hotels soare...
October 18th, 2018 | 0 commentsMajor General Pilot Falah Al Qahtani, Assistant Under-Secretary of the Ministry of Defence for Policies and Strategic Affairs and Marik String, US Deputy Assistant Secretary of State for Political-Military Affairs, ways to enhance cooperation and develop relations in the best interest of the two countries. During the meeting, held at the...
October 18th, 2018 | 0 commentsUAE and Pakistan have reaffirmed their determination to further advance their ties in the fields of media and communications. This came during a meeting UAE Ambassador to Pakistan, Hamad Obaid Ibrahim Salem Al Zaabi, had with Pakistan's Minister for Information and Broadcasting, Chaudhry Fawad Hussain, here. The Pakistani minister hailed...
October 18th, 2018 | 0 commentsDeyaar Development announced a 6.6% year-on-year increase in net profits in the third quarter of 2018. Profits amounted to AED 35.5 million ($9.67 million) during the same period, versus AED 33.3 million ($9.07 million) in the year-ago period. Deyaar, which is 41% owned by Dubai Islamic Bank (DIB), saw its earnings rise marginally to AED...
October 18th, 2018 | 0 commentsThe UAE-based Emaar Development on Wednesday approved distributing a special cash dividend of AED 1.04 billion ($283.15 million), or 26 fils per share, representing 26% of the company’s share capital. The Emirati real estate developer approved the dividend distribution on the back of celebrating its listing on the Dubai Financial Market’s...
October 18th, 2018 | 0 commentsAbu Dhabi General Services Company (Musanada) has executed the construction works of building two schools at a total value of AED 288 million. Mohammed bin Zayed school in Abu Dhabi and Jebel Hafeet in Al Ain city in the UAE are being built on a total land space of 117,000 square metres, according to a statement on Wednesday. The two scho...
