Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of the Etihad Aviation Group, selected Rom Top Aviation Ltd as its general sales agent (GSA) for the State of Israel. The appointment comes ahead of the April 6 launch of Etihad’s scheduled twice-weekly Abu Dhabi-Tel Aviv service and as official Israeli government figures point to rising trade with ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 195,573 additional Covid-19 tests over past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out necessary treatment. As part of ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the Emirates Development Bank (EDB) Strategy to provide a sizeable AED30 billion financial support to businesses and start-ups in a major step to drive the national economy. Launched to support “Operation 300bn”, the EDB Strategy aims to leverage the Bank’s ...

Dubai / WAM Dubai Chamber of Commerce and Industry’s representative offices in Africa organised a webinar in cooperation with Oxford Business Group and the Pan African Chamber of Commerce and Industry, which covered some of the key benefits of doing business in Africa. The virtual event, attended by 163 participants from the UAE and Africa, aimed to familiarise UAE companies ...

DUBAI / WAM Dubai Mercantile Exchange (DME) on Monday announced the launch of Alternative Crude Ecosystem (ACE) — a new bilateral trading platform to enable participants to trade multiple crude grades through the exchange. DME, which is based in Dubai International Financial Centre (DIFC), will make the platform available for all participants and will offer traders the opportunity to trade ...

Abu Dhabi / WAM Shareholders of Abu Dhabi Islamic Bank (ADIB) have approved the distribution of a cash dividend of AED20.58 fils per share, representing 46.6 percent of net profits for the fiscal year ending December 31, 2020, as well as the Board of Directors Report, the Auditors Report and Financial Statements for the year. In its 2020 annual report, ...

Bloomberg Pioneer Natural Resources Co is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the US Permian Basin. The deal is comprised of approximately 27.2 million shares of Pioneer common stock, $1 billion of cash and assumption of ...

Bloomberg Vinci SA’s move to buy a core business of Spain’s Actividades de Construccion y Servicios SA for about 4.9 billion euros ($5.8 billion) will turn the French infrastructure giant into a global player in renewable energies. The deal that was more than six months in the making expands Vinci’s reach into Spain and Latin America, according to a statement. ...

Bloomberg India’s environment ministry delayed anti-pollution guidelines for coal-fired power plants further, extending the compliance deadline by as long as two years. Plants located close to populated cities, including capital New Delhi, will now have to meet the standards by December 2022, a seven-year extension from the original plan to cap toxic emissions, including particulate matter, sulfur dioxide and oxides ...

Bloomberg KKR & Co agreed to pay $3.37 billion for a 20% stake in a Sempra Energy unit comprising the US company’s infrastructure assets, including a liquefied natural gas project and a Mexican renewables and pipelines operator. It’s the latest example of a broader push among US utilities eschewing diversification to focus on providing electricity and gas to homes and ...