News

ABU DHABI/WAM NMDC Group, specialised in engineering, procurement, construction, and marine dredging, today disclosed its financial results for the first half of 2024. The Group reported a 79% increase in revenues, reaching AED12.126 billion, compared to AED6.765 billion in the same period last year. Reflecting the strong growth in its strategic projects, NMDC Group reported a 66% increase in net ...

RAS AL KHAIMAH/WAM H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, received today at his palace in the Saqr bin Mohammed City, Dmytro Senik, Ambassador of Ukraine to the UAE, who came to greet him. The RAK Ruler welcomed Ambassador Dmytro Senik and discussed with him aspects of enhancing cooperation ties with ...

ABU DHABI/WAM The UAE’s economy is expected to grow by 3.9 percent in the current year, 2024, rising to 6.2 percent in 2025, according to the Arab Monetary Fund (AMF). In its Arab Economic Outlook report issued today, the AMF stated that the expected growth of the UAE’s economy this year is driven by continued improvements in tourism activity, real ...

ABU DHABI/WAM First Abu Dhabi Bank (FAB) has delivered record financial results for the first half of 2024, with a net profit of AED8.4 billion, and revenue of AED15.7 billion, a growth of 16 percent year-on-year (YoY), underlining the bank’s consistent growth trajectory.Profit before tax grew 15 percent YoY to AED10.0 billion, while net profit for the second quarter of ...

CAIRO/WAM Dragon Oil, fully owned by the Government of Dubai, has inaugurated the AI Retreat to study the development of the Morgan and Badri fields using AI technology in Egypt. The opening ceremony was attended by Fareed Al Hashmi, Chief Operating Officer of Dragon Oil (Egypt and Iraq), along with several officials from the Egyptian Ministry of Petroleum and Mineral ...

ABU DHABI/WAM UAE  President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolence to Ferdinand R. Marcos Jr., President of the Republic of the Philippines, on the victims of the floods caused by Typhoon Carina, which swooped the Philippines and resulted in several casualties and injuries, wishing the injured a speedy recovery. His Highness Sheikh ...

DUBAI/WAM H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, said the UAE’s government system has made exceptional progress that has positively impacted various development sectors, particularly those dealing with the direct services offered to UAE citizens. He applauded the Government’s continuous efforts to fulfill the vision of President His ...

ABU DHABI/WAM The Abu Dhabi Chamber of Commerce and Industry has announced the inauguration of the Abu Dhabi Youth Business Council (ADYBC), in a strategic move aimed at fostering the involvement of Emirati youths in driving economic development locally and internationally by harnessing their innovative ideas and creative capabilities. The Council, which is comprised of an elite of ambitious entrepreneurs, ...

ABU DHABI/WAM The Federal Authority for Nuclear Regulation (FANR) has announced the launch of its new transformational project, the National Programme for Qualifying Nuclear and Radiological Emergency Workers (TAHYAA), in collaboration with the Ministry of Interior. The project aims to develop the Emirati capacity in the field of nuclear or radiological emergencies across all relevant sectors in the UAE. TAHYAA ...

DUBAI/WAM The Dubai Multi Commodities Centre (DMCC) has announced 9 percent growth in its intake of companies from China in the first half of 2024, taking the total number of Chinese members in its free zone to 900. The announcement came as DMCC concluded its latest Made For Trade Live roadshow in Shanghai and Shenzhen – its second in China ...