Local News

ABU DHABI / WAM The General Secretariat of the National Commission on Sustainable Development Goals announced the initial foundations for a cooperative framework with the Abu Dhabi Global Market (ADGM) to encourage initiatives and programmes related to financing projects to support and achieve sustainable development goals. Both organisations signed a cooperation framework at the Abu Dhabi Climate Summit 2019, in ...

SHARJAH / WAM Dubai’s Roads and Transport Authority (RTA) endorsed a three-phase 10- year plan to improve marine services on Dubai Water Canal 2020-2030. The plan envisages upgrading marine transit services on Dubai Water Canal to keep pace with surrounding urban development landscape. “The initial phase covers a short-term plan 2019-2020, which already started in April. It includes modifying the ...

Abu Dhabi / WAM Abu Dhabi Ports and the Mauritius Ports Authority (MPA) signed a memorandum of understanding (MoU) to pool their combined expertise to enhance the maritime sector across the Indian Ocean, from port infrastructure and security to protecting the en-vironment and driving the cruise industry. The MoU was signed by Captain Mohamed Juma Al Shamisi, CEO of Abu ...

Dubai / Emirates Business ENBD Reit, the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has confirmed a $177 million (AED650 million) Shari’a-compliant financing facility with Mashreq Bank. The facility will refinance as much as $134.5 million (AED494 million) of the Reit’s existing debt — reducing its cost of financing — as well as provide ...

Dubai / WAM The Dubai Electricity and Water Authority (Dewa) has organised a number of workshops for its management and specialists to discuss how quantum computing can be used in electricity and water production processes. A number of quantum computing experts from Microsoft participated in the workshops, which were held over two days at the Dewa Campus for Occupational and ...

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) will provide AED1 billion to support the balance of payments and national housing project in Mali. ADFD has signed two agreements with the Government of Mali. These include an AED918 million ($250 million) concessionary loan to support the balance of payments in the country as well as an additional concessionary ...

SHARJAH / WAM The Sharjah Airport International Free Zone (Saif Zone), host to 8,000 companies, held a business meeting in Abu Dhabi, participated by more than 80 investors and businessmen representing multinational companies from Hong Kong, Malaysia, Singapore and representatives of business councils operating in the UAE. The meeting came as part of Saif Zone’s efforts to attract and introduce ...

ABU DHABI / WAM A senior official announced a commitment to a new solar project in Abu Dhabi that is expected to set a new record. “I am excited to announce a new 2 gigawatt (GW) solar project in Al Dhafra region in Abu Dhabi. This will eclipse the record-breaking 1GW Noor Abu Dhabi Plant,” said Dr Thani bin Ahmed ...

SHARJAH / WAM Dana Gas has announced that it received payments of $48 million (AED177 million) from its operations in Egypt in June. These collections comprise $38 million in payments from the government (of which $30 million as Dana Gas’ share of the industry payment) and $10 million from the sale of the second El Wastani condensate shipment in 2019. ...

ABU DHABI / WAM Abu Dhabi National Exhibitions Company (Adnec) has received the International Association of Convention Centres’ (AIPC) Innovation Award for its new innovative meeting space, ‘The Hive’. Adnec won the industry recognition following stiff competition from seven leading international venues across seven countries including Australia, Finland, South Africa, Canada, Germany, Singapore and Russia. The Hive, the first of ...