finance & economy

June 26, 2019

GMC ranks highest when it comes to customer service among mass market brands in the UAE with a score of 809, according to a study by analytics firm JD Power.

Nissan ranks second with a score of 804, while Mazda ranks third with a score of 799, revealed the JD Power 2019 UAE Customer Service Index (CSI).

It also showed that Cadillac ranks highest in customer service satisfaction among luxury brands with a score of 853, followed by Porsche with a score of 848, and Land Rover with a score of 841.

The"...

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June 26, 2019

Four hundred people have so far been granted the gold card residency visas, Major General Mohamed Ahmed Al Marri, director general of the General Directorate of Residency and Foreigners Affairs (GDFRA) in Dubai, announced.

Al Marri, speaking at a press conference on Tuesday, said the GDFRA plans to issue a further 6,400 gold card visas by the end of the year. The first batch of investors would hold total investments of AED100 billion ($27 billion).

The UAE's new permanent visa is intended to generate foreign investment and attract top engineers, scientists, and"...

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June 26, 2019

DUBAI, 25th June, 2019 (WAM) -- Dubai CommerCity is participating in the 2019 edition of the SIL and eDelivery Barcelona Expo and Congress to demonstrate the opportunities available to those looking to operate in the region and to showcase its services and offerings.

To be held from 26th to 28th June, 2019, at the Fira de Barcelona Montjuïc site, the 21st edition of the international event will gather nearly 650 companies. It will be held under the theme, 'Supply Chain and Industry 4.0: the new era of digitalisation and sustainability', in parallel to the AICE and the Intrade Summit BCN, which includes the Alacat Congress, and the"...

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June 26, 2019

ABU DHABI, 25th June, 2019 (WAM) -- Following a recent announcement from Ghadan 21 that aims to bolster private sector growth in Abu Dhabi, Hub71 has announced today the strategic decision of four startup pioneers to set up a presence with the majority of their development and engineering capabilities at Hub71 in Abu Dhabi.

The startups include UAE-based BitOasis, the largest digital asset exchange platform in the Middle East, Lamsa, an award-winning Arabic language learning app, US-based Surkus, the world’s most powerful experiential marketing tech platform and Bayzat, an insurance and HR tech startup, who will all start operations at"...

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June 26, 2019

Abu Dhabi on Tuesday announced a host of new initiatives under its Ghadan 21 prgramme which includes Dh4-billion fund for R&D, new industrial tariffs, new licences for technology businesses, and easier accessibility of funds for the SMEs and instant licence scheme to increase the contribution of private sector in the emirate's economic growth.

It is estimated that all the new initiatives will increase the private sector's contribution to Abu Dhabi's GDP from the current 32 per cent to 37 per cent by 2021.

His Highness Sheikh Mohamed bin Zayed Al Nahyan,"...

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June 26, 2019

UMM AL QAIWAIN, 25th June, 2019 (WAM) -- The Umm Al Qaiwain Industrial City Authority has completed the construction of the infrastructure of the Umm Al Qaiwain Industrial City in Umm Al Thoob, at a total cost of AED58 million.

The project to build the city is part of the strategic development plan of the Umm Al Qaiwain Government, which aims to advance the emirate’s economy, create an attractive investment environment and support the investment sector, through creating partnerships with investors.

Eng. Sheikha Matar bin Humdha, Acting Executive Director of the"...

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June 26, 2019

MetLife today announced the appointment of Michael Mansour as Head of Growth Partnerships, Gulf, Levant, and Turkey.

Mansour joined MetLife from UAE health insurer Daman and brings more than 20 years sector experience with leading multinational insurers including Zurich and Alico. With his in-depth business development and distribution knowledge across the industry's various lines of business, Mansour will lead the development and implementation of MetLife’s growth strategy and create value by fostering new and existing partnerships.

Mansour began his career"...

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June 25, 2019

ABU DHABI, 24th June, 2019 (WAM) -- A delegation from Abu Dhabi National Exhibitions Company, ADNEC, is participating in the International Military-Technical Forum ‘ARMY-2019’, which begins tomorrow in Moscow, Russia.

The forum is one of the most comprehensive defence exhibitions in the world, drawing the participation of 20 defence ministers from across the globe.

Anticipated to attract 1,200 major defence manufacturers and exhibitors from 14 countries around the world, the exhibition set to run untill 30th June, will showcase the latest land, sea and"...

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June 25, 2019

DUBAI, 24th June, 2019 (WAM) -- Construction consultancy Jacobs Mace has been named Expo 2020 Dubai’s 'Official Programme Delivery Management Provider'.

Since its appointment as Project Management Consultant in January 2015, the syndicate has been part of the team responsible for managing the design and construction of the Expo 2020 Dubai site.

Commenting on the announcement, Ahmed Al Khatib, Chief Development and Delivery Officer, Expo 2020 Dubai, said, 'Jacobs Mace has proven to be a solid partner, playing an essential role in ensuring that construction"...

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June 25, 2019

ABU DHABI, 24th June, 2019 (WAM) -- The UAE Dirham in Q1-2019 depreciated against the currencies of top 10 non-dollarised import and non-oil export partners by 0.81 pc and 0.53 pc, respectively, on a quarterly basis, according to the Quarterly Economic Review of the Central Bank of the UAE.

On a Y-o-Y basis, the AED appreciated against top 10 non-dollarized import and non-oil export partners by 4.41 pc and 5.86 pc, respectively.

On the imports side, the UAE Dirham depreciated in Q1 against its top 10 non-dollarised import partners, which account for 52.3 pc of the"...

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