Arabian Post Staff Abu Dhabi Securities Exchange (ADX) announced that Chimera Capital LLC’s Exchange Traded Fund (ETF) has listed on the exchange. The ETF has been designed to replicate the S&P UAE Domestic Shariah Liquid 35/20 Capped Index. The index is provided by S&P and tracks the performance of UAE-based Shariah compliant liquid equities, opening up a new and increasingly demanded asset class to investors seeking exposure […]
Arabian Post Staff UAE’s leading industrial manufacturer Ducab Group has announced that overall profitability for the first six months of 2020 has been maintained as compared to same period last year, due to the resilience of its diversified cables and metals business with all manufacturing based in the UAE. Jointly owned by ADQ (through Senaat) and ICD, with six manufacturing facilities across four sites in the UAE, […]
Arabian Post Staff DIFC FinTech Hive has attracted an unprecedented 620 global, regional and local applications for the signature programme. The 620 applications for the intake, exceeds the previous record of 425 applications, received in 2019. The applications represent an exceptionally broad range of concepts, submitted by an impressive pool of talent which reflects DIFC’s reputation for nurturing financial innovation. Specialisms include FinTech, InsurTech, RegTech and Islamic […]
Emirates Cricket Board (ECB) has confirmed that they have received the official Letter of Intent from the BCCI to host the 2020 edition of the Indian Premier League (IPL). “We have received the (official) letter and now wait on the decision from the Indian Government which will ink the final deal.” said Mubashshir Usmani, Emirates Cricket Board Secretary General. While the Board waits for notice from BCCI […]
Arabian Post Staff Dubai is ranked sixth, ahead of India, in the top ten medical tourism destinations by the the International Healthcare Research Center (IHRC) in 2020-2021 Medical Tourism Index (MTI). The top ten destinations: Canada, Singapore, Japan, Spain, United Kingdom, Dubai, Costa Rica, Israel, Abu Dhabi, and India. The MTI ranks the American perceptions of 46 international healthcare destinations providing insight into how consumers view 41 […]
Arabian Post Staff The first WHO enlisted global clinical Phase III trial of Sinopharm CNBG’s inactivated vaccine to combat COVID-19 has started in Abu Dhabi and has been inspired by the UAE leadership’s vision and commitment to overcome the pandemic through a global collaborative effort. Sheikh Abdullah bin Mohammed Al Hamed, Chairman of the Department of Health, Abu Dhabi, was the first individual in the world to […]
Arabian Post Staff The IMF has praised the UAE authorities for reacting very quickly and swiftly in addressing the spreading of the coronavirus, and the pioneer measures in terms of controlling the spreading, increasing the number of testing, and introducing technology as a way and mean to address and to contain the spreading of the virus. It pointed out that the UAE economy is the second largest […]
SEOUL, 10th July, 2020 (WAM) — His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has sent a message to President Moon Jae-in of South Korea, congratulating him on the 40th anniversary of the establishment of diplomatic relations between the two friendly countries. The message was delivered by H.H. Sheikh Abdullah bin Zayed Al […]
Following the partial lifting of international flight restrictions by UAE and Indian authorities on travel for eligible individuals to and from Abu Dhabi to India, Etihad Airways will resume a limited number of special flights to six Indian gateways. The airline will operate services from Abu Dhabi to Bengaluru, Chennai, Delhi, Hyderabad, Kochi, and Mumbai. All eligible passengers travelling from India to Abu Dhabi must possess the relevant […]
Arabian Post Staff Abu Dhabi Securities Exchange (ADX) has announced the transfer of its Ras al-Khaimah and Fujairah branch offices to its Sharjah branch and the transfer of its Al Dhafra Region branch office to Abu Dhabi. The move is in line with ADX’s business development strategy, which is designed to facilitate digital acceleration and provide smart services in an effort to be more customer centric and […]
Middle East and North Africa (MENA) construction sector is expected to be bit by the triple whammy of lower oil production, low oil prices and contracting non-oil sectors. Data and analytics company GlobalData has further cut its construction output growth forecast for the region for 2020 to -2.4%, down from the previous forecast of 1.4%, in light of continued spread of COVID-19. Amid the worsening situation with regards […]
Abu Dhabi Emergency, Crisis and Disaster Committee for the Covid-19 Pandemic, in collaboration with Abu Dhabi Police and DOH, have announced that citizens and residents may leave Abu Dhabi emirate without a permit Entry to Abu Dhabi emirate is allowed with a permit issued by Abu Dhabi Police. Precautionary health measures will apply upon entry. Movement between Abu Dhabi’s regions (Abu Dhabi, Al Ain and Al Dhafra) […]
Arabian Post Staff Abu Dhabi Emergency, Crisis and Disaster Committee for the Covid-19 Pandemic, in collaboration with Abu Dhabi Police and DOH, have announced that the Abu Dhabi movement ban is to be extended by one week, starting Tuesday 16 June. The ban covers movements between Abu Dhabi’s regions (Abu Dhabi, Al Ain and Al Dhafrah) as well as in and out of the emirate. It applies […]
by James M. Dorsey The Middle East is at a crossroads. The coronavirus pandemic and its economic fallout confronts regional leaders with a stark choice: dial down tensions to open the door toward cooperation in tackling existential challenges or risk ever more aggravated political and economic threats enhanced by a potential wave of social protest. A second wave of the coronavirus pandemic is raising its ugly head. […]
Arabian Post Staff Group 42 (G42), a leading AI and Cloud Computing company based in the United Arab Emirates, and Oxford Nanopore Technologies, an advanced sequencing technology company based in the United Kingdom, announced today they have developed an unprecedented population-scale technology that rapidly and accurately detects SARS-CoV-2, the virus that causes Covid-19. The end-to-end solution will be officially launched within weeks. With ultra-high parallel processing capacity, […]
Arabian Post Staff Global solutions integrator AGC Networks announced that it will be acquiring Fujisoft (along with its associated companies in UAE) through its indirect subsidiary – Black Box Holdings Limited Cayman Islands. The proposed acquisition is subject to approval from the Department of Economic Development in Dubai and from Abu Dhabi Department of Economic Development for the company in Abu Dhabi. The acquisition of Fujisoft will substantially increase and strengthen […]
As we all know, Covid-19 and the effect it is having on the world has been substantial. With several cancellations and travel bans to locations all over the world, there are plenty of changes being made. With changes to sporting events as well as the postponement of a number of major events in the UAE and internationally, there are many wondering how Covid-19 can continue to affect not […]
Arabian Post Staff Dubai International Financial Centre (DIFC) announced a record growth in 2019. The total number of firms in the Centre reached 2,437, up 14% from 2018, with a total of 32% growth since 2017. It attracted 493 new businesses in 2019 and now counts 17 of the world’s top 20 banks, 8 of the 10 leading global law firms, 3 of the top 5 insurance companies […]
Arabian Post Staff Ducab is consolidating its metal operations into a new subsidiary -DMB, a dedicated business unit within the Ducab Group of companies supplying “Made in UAE” copper and aluminium solutions. Ducab Aluminium Company (DAC) and Ducab Copper Rod Plant, which have over 160 employees between them, are included under the DMB umbrella. Today, DMB exports 75% of its production to more than 35 countries in the wider Middle East, Africa, […]
By Matein Khalid I had published an article expressing my shock at the abysmal corporate governance and financial disclosure at NMC Healthcare, the London listed UAE’s largest private operator of healthcare clinics and hospitals. NMC Healthcare shares were at 1816 pence on the LSE when I published my article in the Gulf and UK financial press on 30 December 2019. NMC Healthcare has now plunged to 775 […]
By Arabian Post Staff Emirates Strategic Investments Company (ESIC), an Abu Dhabi-based investment company owned by Sheikh Mansour bin Zayed al-Nahyan, a member of Abu Dhabi’s royal family, said it has acquired two mixed-use properties in the United Arab Emirates (UAE), one of a series of investments to be funded by last year’s successful issuance of the company’s US$600 million (Dh2.2 billion) sukuk. The Dh1 billion (US$ […]
Arabian Post Staff Indonesia’s business community on Thursday welcomed the UAE’s pledge to pump tens of billions of dollars into a wide range of key sector projects. President Joko Widodo and his entourage secured an overall $22.9 billion deal during an official two-day visit to Abu Dhabi earlier this week covering the fields of energy, logistics, port construction, mining, and agriculture. It was also revealed that the […]
Miral, Abu Dhabi’s creator of destinations entered into a partnership with Etihad Airways, the national airline of the United Arab Emirates, to secure exclusive naming rights of Yas Bay Arena. As part of the agreement, Abu Dhabi’s first-of-its-kind multi-purpose, indoor entertainment venue will officially be named Etihad Arena. With Etihad Airways’ track record for connecting Abu Dhabi to the world and promoting the UAE as a vibrant and growing hub for culture, business […]
By Matein Khalid NMC Health PLC, the UAE’s leading private operator of medical clinics and hospitals with a footprint in 17 countries was founded by Abu Dhabi based Indian-Udupi businessman B. R. Shetty and listed on the London Stock Exchange. NMC plunged a shocking 45% in five trading sessions after Carson Block of Muddy Waters Capital, one of the world’s preeminent short selling specialist hedge funds, accused […]
