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1:24:02 PM , 19 Sep 2018
Al Hilal Bank Successfully Closes Landmark USD 500 Million Sukuk (19 September 2018)
The transaction, under Al Hilal Bank’s new management team, marks the first Senior Public Sukuk from the UAE since April 2018, and re-opens the Capital markets for GCC issuers. Al Hilal Bank was last in the market with a Senior Public Sukuk in 2013.

ADGM Signs Agreement With Leading UAE Telecom Providers To Boost Digital Innovation In Financial Freezone (19 September 2018)
Both signings were held at the 2018 FinTech Abu Dhabi Summit by ADGM which was held under the patronage of H.H. Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council.

Saeed Al Remeithi Named Chairman Of World Steel Association’s Economic Committee (19 September 2018)
The World Steel Association (WSA), a non-profit organization with headquarters based in Brussels, Belgium, with more than 170 members represented throughout the world and accounting to 85 percent of Steel procurers.

du Inks Pact With ADGM To Support Digital Transformation Agenda (18 September 2018)
The MoU sets a formal framework for du to work with ADGM in exploring and developing technology infrastructure, innovation platforms, potential business opportunities, digital services, pilot projects, among others within ADGM and Abu Dhabi.

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RECENT FEATURES
FAB launches 4th National Housing Exhibition

H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Department of Transport, opened on Tuesday the 4th edition of the National Housing Exhibition (NHE) at the Abu Dhabi National Exhibition Centre. The three-day housing event is being organised by the First Abu Dhabi Bank (FAB) under the patronage of H.H. Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council. Nearly 120 exhibitors, including government entities, consultants, contractors and suppliers, are participating in the 11,000 square metre exhibition, which also features a series of activities and seminars.

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Bill Gates thanks UAE for role in the fight to end world poverty

The philanthropist Bill Gates has thanked the UAE for its support in working to eliminate deadly diseases and reduce world poverty. Mr Gates was speaking on the eve of the launch of the 2018 Goalkeepers Report, produced by the Bill and Melinda Gates Foundation, and which measures progress towards goals for sustainable development by 2030 set by the United Nations three years ago. In an interview with The National, Mr Gates said the foundation was "extremely thankful for the generosity of the UAE, including the ruling family, the government and a lot of organisations there."

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Government spending reaches AED10.44 billion in Q1 2018

The value of spending of federal authorities increased to around AED10.44 billion during the first quarter of 2018, an increase of 17 percent compared to AED8.92 billion during the same period in 2017, highlighting the country’s continuing overall development. According to a financial performance report on the country’s budget issued by the Ministry of Finance, the level of commitment to implementing the budget reached 100 percent during the first quarter of 2018, with public sector spending accounting for the largest proportion of government spending during the first three months of the year, reaching around AED3.277 billion, or 31.4 percent of total spending.

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ADGM announces launch of digital sandbox to accelerate financial services

Abu Dhabi Global Market, ADGM, today announced an initiative to launch a FinTech digital sandbox. The digital sandbox allows financial institutions, FIs, and FinTech innovators to come together to experiment on products and solutions in a digital platform environment, supported by regulatory standards developed by the Financial Services Regulatory Authority, FSRA, of ADGM. The ADGM digital sandbox will provide a marketplace for open collaboration between FIs, FinTech firms, and regulators to facilitate testing and adoption of innovative digital financial products and services that can benefit the industry in the region.

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Digital Tax Stamp Scheme for Tobacco establishes effective control system

The Federal Tax Authority (FTA) has reaffirmed that Cabinet Decision No. (42) of 2018 on Marking Tobacco and Tobacco Products establishes an accurate and effective control system, allowing FTA to efficiently collect taxes, ensure transparency and combat tax evasion. The scheme is set to be implemented in collaboration with the relevant authorities to ensure a single integrated set of procedures is rolled out, guaranteeing the protection of rights and responsibilities of Taxable Persons, as well as ensuring transparency with regards to the procedures that regulate their relationship with FTA.

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Benihana
Benihana at Geach Rotana Hotel is featuring the real show of live cooking in front of the guests sitting at Teppanyaki. Offering varieties of sushi, sashimi, Makimono rolls, steaks, seafood, chicken & vegetables in American Japanese Style. Call: 697 9122

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