News

  Dubai / WAM Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced its unaudited financial results for the first half of 2022. The company achieved a remarkable increase of 196% in net profit to reach AED66.9 million for the six months ended June 30, compared to AED22.6 million for the same period in 2021. ...

  ABU DHABI / WAM The central bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 75 basis points, effective from July 28. This decision was taken following the US Federal Reserve Board’s announcement on July 27, to increase the Interest on reserve balances (IORB) by 75 basis points. ...

  Abu Dhabi / WAM Response Plus Holding (RPM), a subsidiary of ADX-listed Alpha Dhabi, has reported a strong performance in the half-year results ending June 30, announcing a net profit of AED20.6 million in the first half of 2022, compared to AED12.5 million during the same period in 2021. Response Plus Holding has achieved AED162.6 million in revenue in ...

  Abu Dhabi / WAM The Healthcare Programme, an initiative by the Emirati Talent Competitiveness Council (Nafis), has begun registering UAE nationals with, at least, high school degrees. The initiative aims to attract 2,000 nationals to the healthcare sector in 2022, while continuing the process until reaching the target of attracting 10,000 nationals to the sector by 2026. The programme ...

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) has recorded its highest rise in terms of market value and trading value at end of the second quarter of 2022, according to the Arab Monetary Fund (AMF). In its quarterly bulletin on the performance of Arab stock markets issued on Wednesday, the AMF noted that the ADX achieved an ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a cable of condolences to President Ferdinand Marcos of the Philippines over the victims of the earthquake that struck north Manila which killed and injured scores of people. President His Highness Sheikh Mohamed wished a speedy recovery to the injured. His Highness Sheikh Mohammed ...

  Abu Dhabi / WAM Aldar Properties, through its Aldar Investment business, has announced the acquisition of the beachfront resort, DoubleTree by Hilton Resort & Spa Marjan Island, and an adjacent beachfront development plot for a total consideration of AED810 million. The acquisition adds considerable weight to the company’s hospitality and leisure portfolio, which now has a total of over ...

  Abu Dhabi / WAM National Marine Dredging Company Group and James Fisher and Sons plc (James Fisher) signed a memorandum of understanding to collaborate on key projects and opportunities in the oil and gas sector as well as decommissioning, offshore wind and marine civil construction industries worldwide. Combining the expertise, global footprint, scale and capabilities of their subsidiaries, NMDC ...

  Sharjah / WAM The semi-annual report issued by the Sharjah Real Estate Registration Department (SRERD) revealed that the value of real estate trading during the first six months of 2022 amounted to AED 11.2 billion. The total number of sales transactions amounted to 3,327, with a total value of AED4.1 billion, of which AED3.9 billion were in the city ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) on Wednesday announced the award of two substantial contracts totalling $2 billion (AED7.49 billion) to Adnoc Drilling for the Hail and Ghasha Development Project. The contracts comprise $1.3 billion (AED4.89 billion) for integrated drilling services and fluids and $711 million (AED2.6 billion) for providing four Island Drilling Units. A ...