Abu Dhabi / WAM Adnoc Distribution on Thursday reported strong earnings for full-year 2022, with year-on-year growth in Ebitda by 15 percent to AED3.52 billion, and net profit by 22 percent to AED2.75 billion for 2022. The company’s total fuel volumes continued to increase during the year, recording an 8 percent year-on-year growth through 2022 – with commercial fuel ...

  Abu Dhabi / WAM Abu Dhabi Airports, the operator of the emirate’s five airports, on Thursday released its passenger traffic results for 2022. From January 1 to December 31, 2022, 15.9 million guests used Abu Dhabi International, Al Ain International, Al Bateen Executive, Delma Island and Sir Bani Yas Island Airports – tripling the 5.26 million achieved in 2021. ...

  Abu Dhabi / WAM The United Arab Emirates has announced that it will allocate AED1.83 million in cooperation with “Nadia Murad’s Initiative”, to implement the second phase of a comprehensive development project to provide water supply and sanitation in the Sinjar district of Iraq. Sultan Al Shamsi, Assistant Minister of Foreign Affairs and International Cooperation for International Development Affairs, ...

  Dubai / Gulf Time After much planning and preparation, Mahy Khoory launched its brand new Grundfos-certified sub-factory in Dubai, paving the way for greater product flexibility and reduced lead times for customers in the United Arab Emirates. The facility will produce the Grundfos SP submersible pump. Mahy Khoory is a long-established Grundfos distributor in the United Arab Emirates (UAE), ...

  Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of Etihad Airways, will offer increased capacity to the European market via two new gateways with the introduction of two new routes from its Abu Dhabi hub to Copenhagen in Denmark and Düsseldorf in Germany. The carrier will also introduce additional services to Frankfurt. The carrier currently operates ...

  Dubai / Gulf Time Bridge Medical Group Purchasing (BMGP), an innovative and novel Group Purchasing Organisation (GPO) specialised in the healthcare sector, has signed a memorandum of understanding (MoU) with New Al Farwaniya, a leading medical supplier and distributor in the UAE. In line with the agreement, New Al Farwaniya will serve as one of BMGP’s major specialty medical ...

Bloomberg Mitsubishi Heavy Industries Ltd. finally ended the development of its SpaceJet aircraft — a domestic short-haul jet that was to supply local carriers including ANA Holdings Inc. — after spending hundreds of millions of dollars on the project. Tokyo-based Mitsubishi Heavy lacked the understanding and technological know-how for SpaceJet to materialise, Chief Executive Officer Seiji Izumisawa said at a ...

  Bloomberg Recent plane near-collisions on runways have raised red flags among lawmakers crafting a major US aviation policy bill. The National Transportation Safety Board (NTSB) is investigating two near-misses in recent weeks on runways at airports in New York and Texas. Lawmakers weighed how to respond at the House Transportation and Infrastructure Committee’s first hearing of the year to ...

Bloomberg Under Armour Inc shares slipped after executives said discounting will continue for a prolonged period as the athletic brand works through excess merchandise. Inventory buildup has weighed down the sports-apparel industry due to unpredictable demand and long freight times. That’s led to heavy promotional activity to get goods off store shelves. Under Armour’s inventory rose 50% to $1.22 billion ...

Bloomberg A.P. Moller-Maersk A/S, a bellwether for global trade, said “muted” economic growth is set to push the world’s container shipping volumes down by as much as 2.5% this year. The shipping market has normalized after two years of exceptionally high freight rates, when supply snarls and and a shortage of vessels allowed Maersk and its peers to charge higher ...