News

  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 ...

  Abu Dhabi / WAM The UAE district cooling company Tabreed has released its consolidated financial results for the first six months of 2022, reporting a net profit of AED 240.4 million – an increase of 3% compared to its H1 2021 performance. The company practically doubled the size of its concession capacity in Oman with the acquisition of the ...

  Abu Dhabi / WAM Dr Abdulrahman Abdulmannan Al Awar, Minister of Human Resources and Emiratisation, has issued Ministerial Resolution No. 346 of 2022 regarding the amendment of certain provisions of Ministerial Resolution No. 43 of 2022 on the Wages Protection System (WPS). Under the new resolution, the Ministry of Human Resources and Emiratisation (MoHRE) will implement a series of ...

  Dubai / WAM Emirates has announced plans to boost connectivity and increase travel options for customers flying between Dubai and Tel Aviv with a second daily flight, starting October 30. The additional morning frequency is in response to high demand for travel to/from Israel, and builds on the success of Emirates’ existing operation, as the airline reaffirms its commitment ...

  ABU DHABI / WAM Emirates Development Bank (EDB) has announced a new drive to offer free expert guidance to its manufacturing customers. EDB is partnering with Future Factory to offer SMEs within EDB’s portfolio practical advice and consultancy services at no charge. The initiative is in line with EDB’s strategy, which revolves around progressing the economic development of the ...