Local News

Abu Dhabi / GULF TIME Fertiglobe, the strategic partnership between Adnoc and OCI, the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertiliser producer in the Middle East and North Africa (Mena) region, and an early mover in clean ammonia, on Thursday reported that its Q3 2022 revenues increased 52% year-on-year to $1.32 billion, while adjusted ...

Abu Dhabi / WAM AD Ports Group on Thursday announced that it had signed an agreement to acquire an 80% equity stake in Dubai-based Global Feeder Shipping (GFS), a global container shipping company. The total purchase consideration for the 80% stake amounts to AED2.9 billion ($800 million), implying a 100% Enterprise Value of AED3.7 billion ($1.0 billion), with the acquisition ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the Supreme Council Members, Their Highnesses Rulers of the Emirates, along with their grandsons, on Thursday raised the UAE flag nationwide on the occasion of the ‘’UAE Flag Day” marked annually on November 3. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime ...

Abu Dhabi / WAM Abdulla Mohamed Al Mazrui, Chairman of Abu Dhabi Chamber of Commerce and Industry (ADCCI), highlighted the importance of the current edition of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec). Al Mazrui said, “This year’s edition of Adipec consolidates the UAE’s leading position in the global energy sector and the country’s significant role in confronting ...

Abu Dhabi / Gulf Time Investors’ and consumers’ attention has recently been focused on companies’ ESG components, making sustainable investing go beyond being just a buzzword. A 2020 survey carried out by HSBC revealed that 41% of regional investors in the Middle East wish to adopt an effective ESG investment policy. A report by PWC, released in May 2022, added ...

Ajman / WAM On UAE Flag Day, His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, stressed that the country’s flag is the symbol of its unity, strength and future. On the occasion, he said, “On this day, we extend our appreciation, gratitude and best wishes to the UAE’s leadership, headed by President His ...

Abu Dhabi / WAM Adnoc Refining, a joint venture company between the Abu Dhabi National Oil Company (Adnoc), Eni, and OMV, announced on Thursday that it has entered into a strategic agreement with ADQ, an Abu Dhabi-based investment and holding company, Veolia Middle East (Veolia), and Vision International Investment Company (Vision Invest) to acquire its waste management operations in Al ...

Abu Dhabi / WAM   The United Arab Emirates has made significant improvements in developing and strengthening its occupational radiation protection infrastructure since the 2015’s Occupational Radiation Protection Appraisal Service (Orpas) visit to the UAE, according to the experts of the International Atomic Energy Agency (IAEA) who concluded a week-long follow-up review of the UAE’s radiation protection arrangements. At the UAE ...

Abu Dhabi / WAM   Mubadala Health, the integrated health network of Mubadala Investment Company, and Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, are exploring a potential joint venture to set up a long-term care and post-acute rehabilitation facility in Bahrain that will be operated by Amana Healthcare, a Mubadala Health Partner. The proposed ...

Abu Dhabi / WAM    Alpha Dhabi Holding PJSC (Alpha Dhabi) announced that it has acquired a 25 percent stake in Gordon Technologies, a leading provider of MWD (Measurement While Drilling) technology to the oil and gas industry for AED 602 million. Chimera Capital acted as sole financial advisor to Alpha Dhabi Holding on the transaction. Founded in 2014, Gordon Technologies ...