News

  Abu Dhabi / WAM Aldar Investment has completed the acquisition of a 70 percent equity interest in Abu Dhabi Business Hub, valuing the company at more than AED500 million, with the remaining 30 percent owned by a strategic partner. The acquisition marks the creation of Aldar Logistics, the company’s new logistics real estate vertical, which will focus primarily on ...

  Sharjah / WAM Construction of the UAE’s first waste-to-energy plant has been completed, with the project now entering the testing and commissioning phase. The Sharjah Waste to Energy plant is the first project of Emirates Waste to Energy, a joint venture (JV) established by Beeah Energy, the renewable energy business of Beeah Group, and Masdar, one of the world’s ...

  DUBAI / WAM A recent report by the Business Registration & Licensing (BRL) sector at the Department of Economy and Tourism (DET), Dubai, stated that over 18,013 e-Trader licences have been issued since the launch of the initiative in March 2017 until end-March 2022. The growth in the number of e-Trader licences reflects the emergence of e-commerce as an ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, at Al Marmoom in Dubai. During the meeting, Their Highnesses discussed Expo 2020 ...

  Sharjah / WAM Construction of the UAE’s first waste-to-energy plant has been completed, with the project now entering the testing and commissioning phase. The Sharjah Waste to Energy plant is the first project of Emirates Waste to Energy, a joint venture (JV) established by Beeah Energy, the renewable energy business of Beeah Group, and Masdar, one of the world’s ...

Dubai / WAM Expo 2020 Dubai awarded AED 6.8 billion of contracts to small and medium-sized enterprises (SMEs), providing a significant contribution to a vital sector of Dubai’s vibrant economy and exceeding a commitment made in 2016 to award at least 20% of all direct and indirect spend to SMEs. The figure represents more than a quarter of all Expo ...

  Sharjah / WAM Over three million passengers travelled in the first quarter (Q1) of 2022 through Sharjah Airport, witnessing an increase of 119.2 percent as compared to 1.3 million passengers in the same period last year. The aircraft movement for the same term also marked an increase in the number of flights by 89 percent with 21,336 flights, compared ...

  Abu Dhabi / WAM The Centre for Astro, Particle and Planetary Physics (CAP3) at New York University Abu Dhabi (NYUAD) has produced and launched Spaced Out, the university’s first-ever podcast dedicated to astronomy and space science. Aimed at promoting scientific ideas and igniting curiosity among the public about astronomy and space science, the podcast will feature NYUAD’s own experts ...

  Bloomberg UK Chancellor of the Exchequer Rishi Sunak pledged to bring borrowing under control to “avoid saddling future generations with debt” after official figures showed debt servicing costs rocketed. Government borrowing more than halved in the fiscal year through March as Covid-19 support programs were phased out and tax receipts recovered strongly, the Office for National Statistics (ONS) said ...

Bloomberg AP Moller-Maersk A/S said the booming container market will normalize later than the transport giant previously expected, leading to a 25% boost in full-year operating profit. Lower volumes are pushing up the price of shipping containers for longer than previously foreseen, Maersk said, forecasting a 2022 profit of about $30 billion, measured as underlying earnings before interest, tax, depreciation ...