News

Abu Dhabi / WAM  Masdar has pledged to strengthen its support for Saudi Arabia’s clean energy objectives by opening a new dedicated office in the Kingdom. Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co. (SPPC) for wind and solar projects with a combined capacity of 3.3 gigawatts (GW). The ...

Dubai / WAM Amanat Holdings has announced the acquisition of a 60% stake in Human Development Company (HDC), a provider of special education and care (SEC) services in Saudi Arabia covering educational, medical, and rehabilitation services, for an initial consideration of SAR220.3 million (AED215.3 million) and a contingent consideration of up to SAR47.1 million payable subject to future earnings growth. ...

Abu Dhabi / WAM  Borouge Plc on Friday announced its financial results for the nine-month and three-month periods ended September 30, with the company maintaining positive year-to-date performance driven by strong sales volumes. Borouge reported a 13.5% increase in revenue to AED18.84 billion ($5.13 billion) for the nine months to September 30, versus the same period in the prior year. ...

ABU DHABI / WAM  The Emirates Nuclear Energy Corporation (Enec) has showcased the success and impact of the UAE nuclear energy sector at the 5th annual IAEA International Ministerial Conference on Nuclear Power in the 21st Century, which is taking place in Washington DC, United States. The conference brings together ministers, policymakers, senior officials and experts to engage in high-level ...

Dubai / Gulf Time Emirates will be showcasing its Airbus A319 aircraft this year at Abu Dhabi Air Expo 2022. Emirates Executive, the airline’s luxury private jet will be on display on November 1 to visitors who want a glimpse into the spectacular world of private luxury flying on Emirates. Emirates Executive was introduced in 2013, complete with luxury interiors, ...

Abu Dhabi / WAM The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT), which will be effective from January 1, 2023. The amendments were made are in line with international best practice in light of the GCC Unified VAT Agreement. They are based on past experiences, ...

Dubai / WAM In conjunction with Cyber Security Month, which is observed in October every year, Dubai Electricity and Water Authority (Dewa) has added a new channel to raise awareness among its employees about the importance of information security to enhance their skills in facing cyber challenges and threats. In addition to internal bulletins, emails and participation in training courses, ...

Abu Dhabi / WAM Abu Dhabi National Exhibition Centre (Adnec) announced the conclusion of its preparations to host the Abu Dhabi International Petroleum Exhibition and Conference 2022 (Adipec) from October 31 until November 3. The centre has prepared its facilities and infrastructure to host this global event, which is the biggest in its sector and brings together specialists in the petroleum ...

Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, has launched a new platform dedicated to increasing capital investment in technology companies, including startups from the region’s leading family offices. Tech “Barza” – meaning majlis – is an exclusive capital club that targets regional family offices for exclusive access to Hub71’s vibrant community of almost 200 startups to accelerate ...

Made.com Group Plc, the British online furniture retailer, abandoned hopes to find a rescue buyer and said it’s taking steps to try to protect its creditors and shareholders. The company, which warned it was running out of cash, decided that there “is no reasonable prospect” for an offer and terminated the sale process. It has halted new orders to its ...