The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 15 basis points, effective from Thursday, 29th July 2021. This decision was taken following the US Federal Reserve Board’s announcement on 28th July 2021, to set the Interest on Reserve Balances (IORB) at […]Read More
Since its establishment in 1971, Abu Dhabi Fund for Development (ADFD) has been playing a leading role in translating into reality the UAE’s vision to strengthen the economies of developing countries, as well as supporting the national economy and enhancing its global competitiveness. Over the past 50 years, the Fund has financed thousands of strategic […]Read More
Dubai Electricity and Water Authority (DEWA) has commissioned three new substations with a conversion capacity of 450 megavolt-amperes (MVA) in addition to 132 kV ground cables that extend on 35 kilometres and are connected to the main transmission network. This is part of DEWA’s efforts to provide electricity and water services according to the highest […]Read More
Abu Dhabi Commercial Bank (ADCB) reported on Sunday a 76 per cent jump in first-half net profit to AED2.524 billion on the back of higher fee income, lower cost of funds and improved cost to income ratio in the second quarter, Khaleej Times reported. The bank said its Q2 net profit surged 14 per cent […]Read More
Etihad Airways on Friday launched new seasonal routes to the Greek island of Santorini and the southern Spanish city of Malaga. The two new routes were introduced a day after Etihad’s new summer service to Mykonos, making it three new destinations launched in just over 24 hours. The inaugural Malaga service, EY148, took off at […]Read More
Etihad Credit Insurance (ECI), the UAE’s Federal export credit company, has held its Annual General Meeting of Shareholders to review its performance and financial statements in 2020, as well as discuss its strategic plans and future projects. The meeting was chaired by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and […]Read More
RAK Ports has signed a strategic partnership with Danish established Monjasa, a global top ten bunker fuel provider supplying around five million tonnes of oil products every year. Firmly rooted in the Middle East since 2006, Monjasa’s office in Dubai employs 75 specialists covering regional supply operations across the Arabian Gulf and West Africa. With […]Read More
The price of Kuwaiti oil went up by 82 cents to US$74.65 per barrel Wednesday compared to US$73.83 pb the day before, said the Kuwait Petroleum Corporation (KPC) Thursday. The prices of the Brent crude and the West Texas Intermediate, globally, saw an increase with the first going up by 38 cents to $75.19 per […]Read More
DP World, a leading provider of integrated logistics solutions, and the Government of Somaliland, Thursday inaugurated the new container terminal at Berbera Port, following completion of the first phase of the port’s expansion as part of its development into a major regional trade hub to serve the Horn of Africa. The new terminal was officially […]Read More
Dubai Land Department (DLD) has continued its tireless efforts to promote world-class health and safety standards in the emirate’s properties by officially adopting the WELL Health-Safety Rating, in addition to confirming its recommendation to various relevant authorities to implement the programme to prioritise the health and safety of people in various jointly owned properties (JOPs)across […]Read More
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