Local News

ABU DHABI / WAM Union National Bank (UNB) recorded a net profit of AED1,657 million for the year 2017, up by five percent compared to the previous year. The net profit for the fourth quarter of the year was AED289 million, higher by 15 percent as compared to the same quarter of 2016. The Board of Directors has recommended a ...

DUBAI / WAM The Dubai Electricity and Water Authority (DEWA) has awarded a contract for work on the 4th phase of H-Station at Al Aweer, worth AED1.1 billion, to a consortium comprising Siemens and ELSEWEDY Power. “The project aims to test, supply, and commission three gas turbines with a total capacity of 815 megawatts (MW). The turbines are expected to ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Abdel Fattah el-Sisi of Egypt, discussed during their meeting in Abu Dhabi, ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, attended some of the competitions of the first stage of the 5th Dubai International Cycling Tour, organised by Dubai Sports Council until February 10. His Highness Sheikh Mohammed watched the race as the cyclists passed through the Al Marmoum ...

Dubai / WAM DP World Limited handled 70.1 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2017, with gross container volumes growing by 10.1% year-on-year on a reported basis and 9.7% on a like-for-like1 basis, ahead of Drewry Maritime’s global container throughput growth estimate of 6.0% for 2017. In the fourth ...

Dubai / WAM Dubai Airports, operator of the world’s busiest airport for international passenger traffic Dubai International (DXB), joined Dubai’s aviation community in signing a pledge to purchase only ‘green vehicles’ going forward. The pledge was signed by HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airports; President of the Dubai Civil Aviation Authority; Chairman and CEO of ...

Abu Dhabi / WAM The Abu Dhabi Farmers’ Services Centre (ADFSC), concluded a cooperation agreement with Japan’s Sumitomo Mitsui Banking Corporation (SMBC), which provides financial services to the UAE and Japanese companies operating in the UAE. The agreement was signed on the sidelines of the 2018 Global Forum for Innovations in Agriculture (GFIA). The agreement was signed by the ADFSC ...

ABU DHABI / WAM Etihad Airways and startAD have signed a Memorandum of Understanding (MoU), to develop the entrepreneurship ecosystem in the UAE through exchanging knowledge, expertise and training. The agreement was signed by Peter Baumgartner, Etihad Airways Chief Executive Officer, and Ramesh Jagannathan, Managing Director of startAD and Vice Provost for Innovation and Entrepreneurship at New York University (NYU), ...

ABU DHABI / Emirates Business The Abu Dhabi National Oil Company (ADNOC) signed, on Tuesday, a 15-years gas sales agreement with the Dubai Supply Authority (DUSUP) for the supply of natural gas, to help meet Dubai’s energy needs. The agreement was signed, at ADNOC’s headquarters, by HH Sheikh Ahmed bin Saeed Al Maktoum, Director General of DUSUP and Dr Sultan ...

DUBAI / Emirates Business Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, on Tuesday met Astra Kurme, Ambassador of Latvia to the UAE, and her accompanying delegation, where they discussed means of boosting cooperation. During the meeting, Dr Al Nuaimi praised the bilateral relations which bring together the two friendly countries in various fields, while emphasising the ...