Dubai to become Capital of Islamic Economy

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(Dubai) - His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, launched the strategic plan for developing the Islamic economy sector. The plan launched in the presence of H.H.…

India Tops Global Remittances List

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With the developing world on track to receive $414 billion in migrant remittances in 2013, an increase of 6.3 per cent over the previous year, India has again topped the global chart with $71 billion in remittances, according to a revised…

Sheikh Ahmad Chairs Expo 2020 Meeting

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(Dubai) - The UAE’s Higher Committee for Hosting the 2020 World Expo in Dubai held a meeting chaired by H.E. Sheikh Ahmad bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority; Chairman and Chief Executive of Emirates Airline…

Sheikha Lubna Holds Talks with St.Lucia & German Counterparts

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(New York) - H.H. Sheikha Lubna bint Khalid Al Qasimi, the UAE Minister of Development and International Cooperation has met with of ministers of other countries and international officials to discuss avenues of cooperation. The discussions…

Emirates wins Aviation Company of the Year Award

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Emirates has demonstrated its industry leading role by picking up Aviation Company of the Year at The Gulf Business Industry Awards 2013. The award comes as Emirates embarks on another wave of route launch announcements, extending its network…

Rental Disputes Settlement Centre for Dubai

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(Dubai) - In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, has issued Decree No. 26 of 2013 establishing the Rental Disputes Settlement Centre as part…

UAE Stocks Climb on Fed Decision

UAE stocks climbed, tracking global equities, after US Federal Reserve surprised investors with its decision not to start unwinding its monetary stimulus programme. The DFM General Index jumped 2.18 per cent to 2666.14 and the Abu Dhabi…

VP of Republic of Tanzania Inaugurates UBL Bank in Tanzania

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(Dar es Salaam) - The Vice President of Tanzania, His Excellency Dr. Mohammed Gharib Bilal recently inaugurated UBL Bank (Tanzania) Limited (UBTL), in an impressive ceremony at the Bank’s premises, located in the heart of the city centre…

Global Economic Recovery too Weak: G-20

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(St Petersburg) - G-20 leaders have warned that global economic recovery is too weak, with the risk of a further slowdown and some emerging markets showing particular fragility. They backed a “St Petersburg action plan” to boost growth…

US Trade Mission Visits UAE

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The US-Arab Chamber of Commerce has partnered with the UAE Embassy Trade and Commercial Office in Washington DC, to bring a delegation of small and medium enterprise (SME) and minority business leaders from the State of Illinois on a trade…

Dubai Stocks Hit 18-month High

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(Dubai) - Dubai shares gained the most in 18 months, rebounding from the worst weekly slump since 2011, after US President Barack Obama put off a military strike against Syria. The Dubai Financial Market General Index advanced three percent,…

India PM Warns of Inflation

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(New Delhi) - India’s premier, Manmohan Singh has warned the nation to brace for higher prices because of the rupee’s plunge to record lows, but he forecast the economy would pick up in the second half of the year. Manmohan Singh, addressing…

DFSA Signs 26 Agreements with EU Regulators

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The Dubai Financial Services Authority DFSA said it has entered into 26 supervisory co-operation agreements with European Union (EU) and European Economic Area (EEA) securities regulators. Under these agreements, each regulator agrees to…

UAE Stocks Hit Multi-Year Highs

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Stock markets in the UAE rose to new multi-year highs in line with a general upswing across the Gulf bourses with the sole exception of Saudi Arabia where the market recorded slight declines. Dubai’s benchmark DFMGI index rose 1.1 percent…