Local News

ABU DHABI / WAM Khalifa Fund for Enterprise Development has announced its transformative new strategy and announced the launch of MZN (Arabic word for rainy clouds) Hub, an innovative concept, which utilises AI-driven solutions, to ensure an integrated, cutting-edge ecosystem that provides entrepreneurs with bespoke resources and programmes and empower them to enhance their capabilities. The announcement came during the ...

ABU DHABI / WAM Mubadala Investment Company, the Abu Dhabi-based investment company, announced its agreement to purchase a minority stake in Zelis, a leading provider of healthcare technology solutions in the United States. Mubadala Investment Company is the lead investor, alongside a group of investors including Norwest and HarbourVest. Parthenon and Bain Capital remain the majority owners of Zelis. “We ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to King Maha Vajiralongkorn of Thailand on the occasion of his country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Sheikh Mansour bin Zayed Al Nahyan, ...

ABU DHABI/WAM Emirates Development Bank (EDB) has provided AED1.12 billion in financing to the food security sector, representing 8% of its total cumulative financing. Since the launch of its new strategy in April 2021, EDB’s total financing has reached AED14.72 billion, reflecting the strategic importance the bank places on this critical sector. By supporting food security, EDB seeks to cultivate ...

ABU DHABI/WAM The Federal National Council (FNC) on Wednesday adopted a set of recommendations during the discussion of the government’s policy regarding artificial intelligence (AI). The 3rd meeting of the second ordinary session of the 18th legislative chapter of the Federal National Council (FNC) was chaired by its Speaker Saqr Gobash. Omar bin Sultan Al Olama, Minister of State for ...

ABU DHABI/WAM Adnoc Gas plc announced on Wednesday that Worley Engineering Pty Ltd has been awarded the Front-End Engineering and Design (FEED) contract for new gas processing facilities at Bab Gas Cap (BGC). The new facilities would boost Adnoc Gas’ current processing capacity by 20% or over 1.8 billion standard cubic feet per day (scfd) with a Final Investment Decision ...

DUBAI / GULF TIME His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, took to social media platform X, and praised the performance of Lieutenant General Mohammed Ahmed Al Marri, Director General of GDRFA Dubai, in a post on Wednesday. His Highness Sheikh Mohammed said, “Over the past 30 ...

DUBAI/WAM Emirates Central Cooling Systems Corporation (Empower) has announced the commencement of operations of the first phase of its new district cooling plant in Jumeirah Beach Hills (JBH). Empower revealed that the plant’s total production capacity is set to reach 48,000 refrigeration tons (RT) upon the completion of all phases. This impressive output will serve the Jumeirah area, internationally acclaimed as ...

MUSCAT/WAM The Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) stated that the UAE is a global hub for the new economy, boasting an active and highly competitive economy, flexible and productive human capital, and an advanced innovation-driven environment shaping the future. The UAE has emerged as one of the world’s most prosperous societies, ...

DUBAI/WAM Dubai International Financial Centre (DIFC), on Wednesday welcomed more than 3,000 industry leaders, government officials, and sustainability experts to the 2nd Future Sustainability Forum 2024. The event convened global experts to ideate, collaborate and inspire with insights, to accelerate the global transition towards a low-carbon, climate-resilient future, and showcase the UAE’s sustainable practices, specifically in the financial environment. The ...