News

  ABU DHABI / WAM Statistics Centre – Abu Dhabi (SCAD) has received a delegation from the Department of Statistics and Community Development – Sharjah (DSCD) headed by Sheikh Mohammed bin Humaid Al Qasimi, Chairman of the Department, and Sheikh Sultan bin Abdullah bin Salem Al Qasimi, Director of the Department, to discuss means of cooperation. During the visit, the ...

  DUBAI / WAM The Board of Directors of the Dubai Financial Services Authority (DFSA) has announced the appointment of Ian Johnston to the position of Chief Executive Officer of the DFSA, effective September 1. Ian Johnston, who served as the DFSA’s Chief Executive from 2012 to 2018, will succeed F. Christopher Calabia who stepped down from his position. Over ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has enhanced integration between different energy resources in its smart grid through its Virtual Power Plant (VPP), the first of its kind in the region. The first phase has aggregated the Distributed Energy Resources (DERs) operated by Dewa’s R&D Centre, and managed them as a single mixed portfolio of generation ...

  ABU DHABI / WAM First Abu Dhabi Bank (FAB) announced that the group’s net profit amounted to AED8 billion in the first six months of 2022, an increase of 50% compared to the same period last year. In a statement on Thursday, the bank said the total income was AED12.5 billion, up 31% year-on-year, including an AED3.1 billion net ...

Abu Dhabi / WAM Aldar Properties signed an agreement with Mubadala Investment Company to acquire four prime Grade A commercial towers in Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, located on Al Maryah Island. The assets, which will be held by Aldar Investment Properties (AIP), are valued at AED4.3 billion, representing one of the largest ...

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a message of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia, expressing his sincere condolences and sympathy over the death of Prince Abdulrahman bin Nasser bin Abdulaziz Al Saud. His Highness Sheikh Mohammed bin Rashid ...

Abu Dhabi / WAM Etihad Airways on Thursday announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of $296 million (H1 2021: $392 million loss). This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year. Etihad carried 4.02 million passengers in H1 ...

  Abu Dhabi / WAM Adnoc Distribution, the UAE’s largest fuel and retail distributor, on Thursday announced that it has entered into an agreement with “TotalEnergies Marketing Afrique SAS” to acquire a 50 percent stake in TotalEnergies Marketing Egypt LLC (TotalEnergies Egypt) for about $186 million, with an additional earn-out of up to $17.3 million. The partnership with TotalEnergies, a ...

  Dubai / WAM DP World UAE announced signing two new development projects with multinational agricultural commodity processors, strengthening the F&B cluster and capabilities within Jebel Ali in Dubai. The move is in line with the UAE’s National Food Security Strategy 2051, which aims to achieve zero hunger worldwide by facilitating global food trade, diversifying food import sources, and identifying ...

  Abu Dhabi / WAM Borouge Plc, a petrochemical company that provides innovative and differentiated polyolefin solutions, announced strong financial results for the first six months of 2022, with a 16.4% increase in revenue to $3,460 million for H1 2022, versus the same period last year, driven by sales volume growth of 8.6% and average price per tonne growth of ...