Dar Al Takaful, Watania complete another milestone in merger process
Dar Al Takaful (DAT) and Watania have completed another condition precedent in the merger process aiming to create one of the leading Takaful providers in the UAE with the end of the 45-day policyholders’ notice period with no objections received. The transaction is at the final stages of obtaining regulatory approvals from the Central […]
AD Ports Group receives top five ranking for Khalifa Port in global efficiency index
Executives at Abu Dhabi Ports Group (AD Ports Group) have confirmed that its flagship deep-water port, Khalifa Port, has been ranked in the top five of the global Container Port Performance Index (CPPI), developed by the World Bank and S&P Global Market Intelligence. The ranking is based on time vessels needed to spend in […]
FANR’s inspectors at Barakah Nuclear Power Plant will oversee process to ensure it is completed according to regulatory requirements
The Federal Authority for Nuclear Regulation (FANR) emphasised that the Operating License, issued by FANR on 17th June, 2022, authorises the Nawah Energy Company (Nawah) to commission and operate the Unit 3 of the Barakah Nuclear Power Plant with an estimated duration of 60 years. In a statement today on the occasion, the commissioning […]
Dubai rents increasing at the fastest rate in eight years, says study
A recent survey revealed that residential rents in Dubai are increasing at the fastest rate since late 2014. The total volume of transactions in Dubai’s residential market reached 5,542 in May 2022, up a whopping 33 per cent from a year earlier. According to the June 2022 edition of the ‘Dubai Residential Market Snapshot’ report […]
UAE to hold second auction of federal T-Bonds on June 20
The United Arab Emirates’ finance ministry said a second auction of federal treasury bonds would be held on Monday. The auction size will be 1.5 billion dirhams ($408.43 million) distributed over two tranches: a two-year tranche valued at 750 million dirhams, and a three-year tranche valued at 750 million dirhams, the ministry said on Saturday. […]
AD Ports sets up new JV with National Marine Dredging Company
UAE – Abu Dhabi-based AD Ports Group has signed a deal with National Marine Dredging Company Group, one of the world’s leading engineering, procurement, construction (EPC) and marine dredging groups, to set up a new joint venture company that will conduct offshore surveys and subsea services in the UAE, across the GCC region, as well as […]
Arada starts delivery of Sharjah lifestyle community units
UAE-based developer Arada has started handing over homes in the sixth and final phase of Nasma Residences, the integrated community within the Al Suyoh district of New Sharjah. Home deliveries are currently underway for 124 units in the final phase of the Nasma Residences masterplan, which consists of 1,117 homes from two-bedroom townhouses to five-bedroom […]
Samana starts delivery of 202-unit Dubai residential project
UAE-based Samana Developers has handed over a AED100 million ($27.2 million) residential project, Samana Hills located in the heart of Arjan community in Dubai. The resort-style G+5 free-hold property comprises a built-up area of 100,000 sq ft and houses 202 units featuring a mix of studios, one- and two-bedroom apartments. Speaking at the handover ceremony, […]
Dubai-based Qashio launches UAE’s first corporate card
UAE – Qashio, a UAE-based fintech company, has launched the first corporate expense management card and software for business transactions in the country. The platform will enable business owners and financing partners to have more control over their expenses, according to a press release on Wednesday. Through the software programme, entrepreneurs will be able to control […]
Abu Dhabi’s NPCC wins $673mln Aramco contracts
Abu Dhabi-based National Petroleum Construction Company (NPCC) has been awarded two contracts worth a total of $673 million by oil producer Saudi Aramco. Abu Dhabi Securities Exchange-listed National Marine Dredging Company, which wholly owns NPCC, said in a bourse filing that the first contract relates to Aramco’s Jafurah Development Program project and is worth $460.2 […]