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25 September 05:59 PM

UAE news

Imdaad is negotiating with three companies specialised in integrated facility management systems
2 hours ago Imdad to use AED 100m for new acquisitions
By: Amr Adel Dubai – Mubasher:  Imdaad, a Dubai-based facility management company, announced that it appropriated AED 100 million to finance new acquisitions in 2017, according to the company’s CEO Jamal Lootah on Monday. Currently, Imdaad is …
Companies Investments
Brent futures rose by 1.4% to $57.67 per barrel
2 hours ago Brent surges to highest level since mid-2015
Mubasher: Brent crude oil expanded its gains during Monday trade, reaching its highest level in more than two years, with investors showing a positive sentiment regarding the output limitation agreement. Brent futures rose by 1.4% to the level of …
Commodities
du Telecommunications Company on Monday announced that it has joined the Amazon Web Services Partner Network (APN), according to a company statement
3 hours ago du joins Amazon’s APN
Dubai – Mubasher: du Telecommunications Company on Monday announced that it has joined the Amazon Web Services Partner Network (APN), according to a company statement. du’s customers will have a rapid access to Amazon Web Service’s (AWS) Cloud …
Companies Investments
Prime Views project comprise 151 residential units situated on 225,000 square feet, according to a company statement
3 hours ago Prescott Properties launches AED 165m project in Dubai
Dubai – Mubasher: Prescott Real Estate Development on Monday revealed an AED 165 million large-scale residential and commercial project in Dubai Meydan city called Prime Views. Prime Views project comprise 151 residential units situated on 225,000 …
Companies Investments
The general index fell for the fourth day in row by0.86% or 30.9 points to 3,569.42 points.
4 hours ago DFM closes Monday in red, pressured by Emaar
By: Mahmoud Gamal Dubai – Mubasher: The Dubai Financial Market (DFM) closed Monday’s session in red, pressured by the real estate, banks, and investment sectors. The general index fell for the fourth day in row by0.86% or 30.9 points to 3,569.42 …
Trading Activities
Telecommunication sector lost 1.13% after Etisalat decline by the same percentage
4 hours ago Etisalat sheds 1.1% on Monday
Abu Dhabi – Mubasher: the main index of Abu Dhabi Securities Exchange (ADX) retreated on Monday’s close weighed by leading shares. The main index dropped 0.67% or 29.62 points to 4410.63 points. Telecommunication sector lost 1.13% after Etisalat …
Macroeconomics
There were 47,000 transactions in the real estate market in 8 months
4 hours ago UAE real estate deals rise to AED 203bn in 8M
Dubai – Mubasher: Sultan Butti Bin Mejren, general director of Dubai Land Department, announced that the total value of real estate transactions in the emirate exceeded AED 203 billion in eight months, ending August 2017. There were 47,000 …
Macroeconomics
“Our new set of appointees will play crucial roles in driving more productivity and growth for the company,” he added
5 hours ago DSI announces key Management Appointments
Dubai - Mubasher: Drake & Scull International (DSI) on Monday announced key Management appointments and changes.  Ziad Makhzoumi was appointed as an Advisor to the Board of Directors and Muin El Saleh was appointed as the new Managing Director of …
Management Decisions
The two funds have been developed entirely within the DFSA’s Collective Investment Fund Regime
12:49 PM Arqaam Capital launches 2 fixed income funds at DIFC
Dubai – Mubasher: Arqaam Capital on Monday announced the launch of two “specialist fixed income funds” at Dubai International Financial Centre (DIFC), following approval from the Dubai Financial Services Authority (DFSA). The two funds are Arqaam …
Mutual Funds
Nawah Energy Company will receive the operating licence in the next year
12:04 PM UAE operates first nuclear reactor in 2018
By Amr Adel Abu Dhabi – Mubasher: Minister of energy Suhail Mohamed Faraj Al Mazrouei on Monday announced that the UAE will operate the first nuclear reactor by 2018. More than 96% of Barakah Nuclear Energy Plant has been completed, the minister …
Macroeconomics
The UAE achieved 100% compliance with the OPEC production cut agreement
12:03 PM UAE to reduce oil provisions 10% in September, October – Minister
Abu Dhabi – Mubasher: The UAE's minister of energy Suhail Al Mazroui on Monday announced that Abu Dhabi National Oil Company (ADNOC) will reduce its oil crude provisions by 10% in September and October, in line with the UAE's deal with the …
Macroeconomics
he Egyptian president Abdel Fattah El-Sisi
11:42 AM El-Sisi heads to UAE in two-day visit Monday
Cairo – Mubasher: The Egyptian president Abdel Fattah El-Sisi is heading to the UAE on Monday for a two-day official visit. El-Sisi is scheduled to meet with UAE leaders to discuss various regional and international issues of mutual interest, …
Macroeconomics
Banks sector comprises 22 national banks, the CBUAE’s report added
11:26 AM National banks in UAE increases to 838
Abu Dhabi – Mubasher: the national banks’ branches increased by four branches to 838 in the end of the first quarter of 2017 compared to 834 branches in the comparative period. Meanwhile, the foreign 26 banks did not open new branches and they …
Macroeconomics
UAE inflation drop to 2% in Q2 – C.Bank
11:01 AM UAE inflation drops to 2% in Q2 – C.Bank
Abu Dhabi – Mubasher: The UAE’s inflation decreased to 2% during the second quarter of 2017, compared to 2.7% during Q1-17, a recent report by the Central Bank of the UAE revealed. The country’s inflation fell to 1.2% in July 2017, compared to 2% …
Sector Reports
FAB’s trading volume reached 642,600 shares, generating AED 3.7 million
10:57 AM FAB tops ADX losers early Monday
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) fell to AED 10.35 on Monday by 10:08 am UAE time, leading the Abu Dhabi Securities Exchange’s (ADX) losers. FAB’s trading volume reached 642,600 shares, generating AED 3.7 million. The ADX’s trading …
Trading Activities
Aldar stock acquires 33.9% of ADX liquidity early Monday
10:47 AM Aldar stock acquires 33.9% of ADX liquidity early Monday
Abu Dhabi – Mubasher: Aldar Properties’ stock on Monday rose 1.33% to AED 9.4 by 11:20 am UAE time, acquiring 33.9% of the Abu Dhabi Securities Exchange’s (ADX) liquidity, after 9.4 million shares were exchanged, generating AED 21.3 million. The …
Trading Activities
Etisalat and Du fails to keep 152,320 mobile phone subscribers in 7M
10:33 AM Etisalat, Du lose 132,000 subscribers in 7M
Abu Dhabi – Mubasher: The UAE’s Telecommunication Regulatory Authority (TRA) posted that both Emirates Telecommunications Group (Etisalat) and Emirates Integrated Telecommunications Co (Du) have lost about 131,800 telecom subscribers during the …
Address Harbour Point
09:57 AM Emaar sells Address Harbour Point units
Dubai – Mubahser: Emaar Properties has sold the apartments of its project Address Harbour Point. Investors have booked more than 200 apartments at AED 1.3 million per the apartment, according to Al-Bayan newspaper. Emaar had launched sales of this …
Companies Investments
UAE bourses likely to fall amid drop in turnover– Analysts
09:21 AM UAE bourses likely to fall amid drop in liquidity– Analysts
By: Mahmoud Gamal Dubai – Mubasher: The UAE stock markets are expected to move sideways-to declining during Monday’s trading session, amid liquidity's drop, awaiting new catalysts especially the financial results for the third quarter of 2017, and …
Trading Activities
Gold has fallen by more than $70 per ounce in 2017
01:15 AM Gold down to $1,295 per ounce - Sabaek
Mubasher: Gold prices went down by $23 to reach $1,295 per ounce in last week's trading in New York New Mix market, according to Sabaek Al-Kuwait Company. Kuwait News Agency (KUNA) reported that the company added in its weekly report on Sunday …
Commodities
The grant will help enhance the efficiency of public utility systems in the Comoros
24 September 10:31 PM ADFD grants AED40m for Comoros’ electricity network
Abu Dhabi - Mubasher: Abu Dhabi Fund for Development (ADFD) has allocated a government grant worth AED 40 million to the Comorian government, according to a recent statement. The grant will help enhance the efficiency of public utility systems, …
International Agreements
ADR grew by 7.4% to $151.04, while revenue per available room (RevPAR) increased by 3.2% to $93.84, and occupancy declined 3.9% to 62.1%
24 September 05:46 PM Occupancy, ADR drop in UAE hotels
Dubai - Mubasher: Supply growth remains problematic to hoteliers. Nevertheless, demand has maintained its position, according to STR data. Despite the said strong demand from tourists, which was up 4.8% year-to-date, hotels in the UAE underwent a …
Macroeconomics
Last week, the creditors’ committee for Air Berlin stated that they will negotiate with Lufthansa and EasyJet the possibility of buying the bankrupt airline
24 September 05:39 PM Lufthansa offers €200m for Etihad unit – Newspaper
Abu Dhabi – Mubasher: Germany-based Lufthansa has submitted an offer to buy Air Berlin, 30% of which is owned by the UAE’s Etihad Airways, Bild am Sonntag newspaper reported Sunday. Lufthansa offered €200 million ($239 million) and expressed its …
Companies Investments
Headquarter of the CBUAE
24 September 05:12 PM UAE gross banks’ assets drop to AED 2.6tn in August
Abu Dhabi – Mubasher: The Central Bank of the UAE (CBUAE) on Sunday said that assets owned by the country’s banks slipped by 0.6% to AED 2.618 trillion by the end of August 2017 from AED 2.633 trillion a month earlier. Total gross credit fell by …
Macroeconomics
The project, which took 18 months to conclude, was completed six months before its predetermined date, Etihad said in a statement
24 September 04:33 PM UAE’s Etihad completes project ahead of schedule
Abu Dhabi – Mubasher: Etihad Airways on Sunday unveiled the completion of a project with international cash management bank partner Citi to provide new automated treasury tools at the airline. The project, which took 18 months to conclude, was …
Companies Investments