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Adnoc L&S wins $975m deal to build offshore artificial island

ABU DHABI / WAM Adnoc Logistics and Services plc, a global energy maritime logistics leader, announced on Thursday that it has been awarded a $975-million artificial island construction contract by Adnoc Offshore. As part of Adnoc’s In-Country Value programme, at least 75% of the total contract value for dredging, land reclamation and marine construction of an artificial island “G” for ...

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WAM, CTK sign pact to enhance news exchange

ABU DHABI / WAM The Emirates News Agency (WAM) on Thursday signed a memorandum of understanding (MoU) with the Czech News Agency (CTK), aiming at strengthening and developing cooperation in news exchange. The MoU was signed virtually by Mohammed Jalal Al Rayssi, Director-General of WAM, and Jiri Majstr, CEO of CTK. The WAM-CTK collaboration is part of WAM’s efforts to ...

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ECB officials urge higher interest rates

BLOOMBERG  European Central Bank (ECB) officials called for interest rates to be lifted further — seeking additional reassurance on the inflation front as they look past more signs of weakness in the euro-zone economy. Dutch central bank chief Klaas Knot said he’s “not yet convinced that the current tightening is sufficient,” telling lawmakers in the Netherlands that “inflation could well ...

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Barakah plant’s Unit 4 set for operational readiness test

ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec) has announced that Unit 4, the fourth and final unit at the Barakah Nuclear Energy Plant in Abu Dhabi, has begun its operational readiness preparations. The operations team at Barakah have now commenced the operational readiness testing required to demonstrate the unit is ready to receive the Operating License from ...

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Mohammed bin Rashid honours 16 entities leading in CSR with Community Impact Medal

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, witnessed the honouring of a number of companies leading in Corporate Social Responsibility (CSR), in recognition of their important role in consolidating sustainability practices. His Highness Sheikh Mohammed stressed the importance of strengthening and organising Corporate Social ...

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Standard Chartered to sell Zimbabwe unit locally to FBC

BLOOMBERG  Standard Chartered Plc agreed to sell its Zimbabwe business to the country’s FBC Holdings Ltd as it presses ahead with plans to exit seven markets in Africa and the Middle East. The emerging markets-focussed bank will transfer 100% of its shareholding in the unit, including the custodial services business, to FBCH, as the investment holding company is known. FBCH ...

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