April 21, 2018

The total foreign assets at the UAE Central Bank amounted to AED336.32 billion, a growth of 10.3 percent from AED324.98 billion during the corresponding period in 2017.

Statistics released by the UAECB today indicated that the rise in foreign assets is attributed to the increase in the UAECB current account balances and deposits with banks abroad from AED178.83 billion during the Q1 in 2017 to AED271.2 by the end of Q1 this year.

The figures released excludes CBUAE's Reserve Tranche Position (RTP) and SDR holdings with the IMF.

In"...

April 19, 2018

The Green Business Summit 2018 opened in Abu Dhabi yesterday (April 17) highlighting the significant opportunities and challenges faced by business leaders and policymakers in adopting sustainable development practices.

Charles Goddard, The Economist Intelligence Unit’s Asia-Pacific editorial director, welcomed attendees at the event organised by The Economist Events, part of the global English-language weekly newspaper, at the Rosewood Hotel.

Goddard said: “Sustainability and green business are the defining issues, the defining themes of our time. It has been roughly two years since the Paris Agreement when the world agreed to cap global emissions to limit climate change and global"...

April 18, 2018

(AETOS Wire) -- As announced at the Taipei JCB World Conference, on November 2, 2017, IDEMIA, the global leader in Augmented Identity, and JCB, the leading international payment network in Japan, have started the pilot of the first F.CODE Japanese payment card.

“F for fingerprint”: embrace the future of payments with biometrics. F.CODE takes card payments to the next level since your fingerprint replaces the PIN code and so reinforces user’s security and privacy by ensuring a unique and universal identification.

F.CODE"...

April 17, 2018

The UAE's investor-friendly and free trade policies, establishment of new free zones and state-of-the-art infrastructure are paying rich dividends as the country's trade grows.

According to the World Trade Organisation, the UAE, which leads the Arab world, moved up 4 places to become 15th largest exporter in the world, surpassing Russia, Spain and Switzerland.

The UAE also progressed by 1 place in imports, to occupy the 18th position internationally. In total, official figures revealed that the UAE's foreign trade reached Dh1.7 trillion last year.

April 16, 2018

H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, today opened the 2nd edition of the Digital Economy Conference at the Dubai World Trade Centre.

The two-day digital conference brings together a large number of experts and speakers from Arab countries and UN organisations to share experiences and the best international practices in e-commerce amidst a high turnout estimated this year at more than 20,000 visitors from the UAE and other countries from different parts of the region.

The event aims to enhance and support"...

April 14, 2018

The UAE is the second largest investor into Africa from the Middle East region, according to the Financial Times’ Foreign Direct Investment report.

UAE is the second top investing country in Africa by value of capital investment in 2016, accounting for $11bn of capex giving it a 12 percent market share, said the report.

UAE-led FDI rose a substantial 161 percent from 2015, when it pumped $4.2bn of capex into African projects, the report mentioned, quoting a study by the UN Economic Commission for Africa, titled 'Investment Policies and Bilateral Investment"...

April 11, 2018

The Emirates Nuclear Energy Corporation (ENEC) has announced the completion of the reactor containment building dome for Unit 4, the final unit of the Barakah Nuclear Energy Plant, located in the Al Dhafrah region of Abu Dhabi.

The unit’s reactor coolant loop pipe welding, and the setting of key equipment have also been completed, ENEC said in a statement.

ENEC added: 'The completion of Unit 4’s dome structure signifies the majority completion of the main construction activities at the Barakah Plant. This is a key milestone in the overall development"...

April 11, 2018

The UAE Cabinet has approved the issuance of legislation to ensure equal pay for men and women working in the country.

According to state news agency WAM, the Law on Equal Wages and Salaries for Men and Women will ensure that women have equal opportunities as partners in the UAE’s development, and to further empower women to lead future national strategies and ambitious projects.

It added that the UAE Government has been consolidating efforts to narrow the gender gap. In 2015, the UAE Council for Gender Balance was established to position UAE among the leading"...

April 8, 2018

Abu Dhabi’s Smart Solutions and Services Authority said it has completed the work on Phase One of the integrated government project, Tamm.

The Authority said that it has turned nine documents and services of 15 government bodies into integrated electronic data, thus saving Dh80 million on the customers part and Dh11 million on the government entities part.

The completed documents are Tawtheeq, for registering"...

April 4, 2018

The UAE has vowed to offer its residents a clean city by tapping alternative sources of renewable energy aided by smart solutions that will lead to savings in power consumption.

Addressing the Global Leaders Forum on Tuesday, Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Industry, said: 'The target is to reduce CO2 and make UAE the most environmentally clean country in the world.'

Better awareness among residents and efficient use of power and water can both help the nation gain better energy efficiency. Solar remains the critical"...