Local News

ABU DHABI / WAM The Defense and Security Development Fund of Tawazun Economic Council signed a funding agreement reaching the potential total of AED 193 million with Halcon Systems LLC, a company owned by the Abu Dhabi-based Yas Holding Group. The agreement was signed during Idex 2019 by Abdulla Al Huwar, Strategic Technology Investments Director at Defense and Security Development ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, allocated a grant of AED44 million ($12 million) to Jerusalem Council for Development and Economic Growth in support of civil and community programmes and activities in East Jerusalem. His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, and His Excellency ...

Dubai / WAM The Dubai Land Department (DLD), announced launch of the Smart Audit initiative that allows completion of real estate transactions on the same day. This comes as part of its tireless efforts to develop and formulate modern 10X initiatives that guarantee the smooth provision of services to its customers, ensuring their comfort. During the first week of the ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday that Fitch Ratings, Fitch, has assigned Adnoc Group a standalone credit rating of AA+. The rating, according to Fitch, highlights the company’s high upstream output and significant reserves, strong profitability, commercially-focused business model, downstream integration and conservative financial profile. The rating, Fitch said, sits at the ...

Dubai / WAM The Dubai Entertainment, Amusement and Leisure Show (DEAL 2019), will feature a USA pavilion for the first time in its 25-year history. With 25 American organisations choosing to participate in the largest entertainment and amusement industry event in the Middle East, the show organisers have earmarked a prominent location for the exhibitors. Apart from China, the US ...

ABU DHABi / WAM Speaking at a press conference on day two of the International Defence Exhibition and Conference (Idex 2019), and the Naval Defence and Maritime Security Exhibition (Navdex 2019), Brigadier Mohammed Al Hassani, Official Spokesperson of Idex 2019, and Commodore Fahad Nasser Saif Al Thehli, Official Spokesperson of Navdex 2019, announced 24 deals worth AED7,019,428,577. The total value ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met on Monday with Russian Industry and Trade Minister Denis Manturov, in presence of President Rustam Minnikhanov of Tatarstan, and later witnessed the signing of an agreement at at the International Defence Exhibition (Idex 2019). Sheikh Abdullah, Manturov and President Minnikhanov ...

ABU DHABI / WAM Mubadala Petroleum announced that it signed the Gross Split Production Sharing Contract (PSC), for South Andaman, as awarded by the Government of Indonesia pursuant to the 2018 Indonesian Third Direct Tender Round. Following the signing, Mubadala Petroleum is now the operator of both the South Andaman and the adjacent Andaman I PSC and a partner in ...

ABU DHABI / WAM The Advanced Military Maintenance Repair and Overhaul Centre, LLC., (AMMROC) and BAE Systems’ Electronic Systems signed a Memorandum of Understanding to provide repairs and upgrades to aircraft at a facility in Al Ain under AMMROC. Speaking to the Emirates News Agency (WAM), after the signing on the second day of the Idex 2019, in Abu Dhabi, ...

DUBAI / WAM Dubai World Central (DWC), will see the number of passenger flights skyrocket by 700% as it takes on additional traffic during the 45-day period when DXB’s southern runway is closed for a complete refurbishment from April 16 to May 30. The closure will reduce the hub airport’s capacity making DWC an attractive alternate to absorb affected scheduled, ...