ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC), announced on Monday a set of comprehensive sustainability goals, extending its legacy of responsible oil and gas production and reinforcing its longstanding commitment to environmental stewardship. The announcement was made by Dr Sultan Al Jaber, Minister of State and Adnoc Group CEO, while speaking at the opening ceremony of ...

Bloomberg The United Arab Emirates will invest $22.8 billion in Indonesia through a sovereign wealth fund being set up by President Joko Widodo as the Southeast Asian nation seeks to finance billions of dollars of infrastructure and energy projects. The UAE plans to invest in building Indonesia’s new capital and also develop properties in Aceh province, the cabinet secretariat said ...

DUBAI / WAM His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Silicon Oasis Authority (DSOA), on Monday laid the foundation stone for the W Motors Automotive Facility at the Dubai Silicon Oasis, the first manufacturing facility of its kind in the Middle East, with an investment of AED370 million. The groundbreaking event was also attended by ...

Abu Dhabi / WAM The automotive trade index in Abu Dhabi has maintained its positive momentum achieving 5 percent growth during the first ten months of 2019, compared to the same period in 2018. According to statistics in a report issued by the Statistics Centre-Abu Dhabi, local car sales jumped in value to AED28.66 billion from January to the end ...

Bloomberg India’s consumer price inflation hit a more than five-year high, boosting the case for the central bank to keep interest rates on hold for longer and possibly putting at risk its accommodative stance. Data on Monday showed inflation breached the upper end of the Reserve Bank of India’s (RBI) 2%-6% target band as it accelerated to 7.35% in December ...

Bloomberg Saudi Arabia’s energy minister said that Opec and its allies remain focused on using production cuts to reduce oil inventories to normal levels, undeterred by the flare up of political tensions in the Middle East. Oil prices have erased all of this year’s rally, which saw Brent crude surge to a three-month high of almost $72 a barrel. Opec ...

ABU DHABI / WAM Group 42, an Abu Dhabi-based artificial intelligence and cloud computing company, announced on Monday that it has acquired Bayanat for Mapping and Surveying Services LLC, an end-to-end and customised geospatial data products and services provider. Bayanat has been a leader in the geospatial domain since its launch in 2010, delivering various geospatial solutions and services, providing ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), exchanged signing of agreements with Indonesia’s Pertamina and Chandra Asri. Adnoc signed a Memorandum of Understanding (MoU), to explore potential development of a Crude to Petrochemicals complex in Balongan, Indonesia as well as a Sales Agreement in which Adnoc will supply Pertamina with up to 528,000 MT of LPG ...

Abu Dhabi / Emirates Business Etihad Guest, the award-winning loyalty programme for Etihad Airways, has inked a new partnership with Gulf Air, the national carrier of the Kingdom of Bahrain, further enhancing benefits for its members. The partnership expands on codeshare agreement between the two airlines and provides further cooperation between the frequent flyer programmes, Etihad Guest and Falconflyer. This ...

Abu Dhabi / Emirates Business The media plays an increasingly significant role in our lives as a trusted source for news and information, and beyond that also a source for entertainment. It is also a powerful communications platform for the society with the ability to influence people’s opinions and perceptions therefore making a significant social impact at all levels, highlighted ...