News

  ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) will adopt FTSE Russell’s Industry Classification Benchmark (ICB) for all its listed equities as part of its strategy to align to global standards and attract more international investors. The introduction of the ICB is part of the transition of ADX indices to the co-branded FTSE ADX index series, under ...

  Dubai / WAM The Dubai Islamic Bank (DIB) has donated AED3 million to the Khalifa bin Zayed Al Nahyan Foundation, to support the national healthcare services provided by the foundation in 2022. Mohammed Haji Al Khouri, Director-General of the Foundation, lauded the bank’s humanitarian activities and its pioneering social responsibility efforts, as well as its support and sponsorship for the ...

  Dubai / Gulf Time Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic and popular private real estate developers in the UAE, on Monday announces the launch of Pearlz, a residential project offering 1,000 residential units and a number of retail and recreational facilities with a development value exceeding AED300 million. The project will be ...

  Abu Dhabi / WAM Mubadala Petroleum, the Abu Dhabi headquartered international energy company, has successfully commenced first gas production from the Pegaga gas field in Block SK 320, offshore Malaysia. This milestone marks the safe and successful culmination of a challenging gas project, during a period in which Mubadala Petroleum navigated the challenges of the global pandemic. As a ...

  SHARJAH / WAM In implementation of the directives of His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, to provide a stable and decent life for the citizens, the Sharjah Debt Settlement Committee (SDSC) approved an amount of AED63.11 million, to settle 120 cases of citizens’ debts. Commenting on this, Rashid Ahmed ...

  ABU DHABI / WAM Masdar, one of the world’s leading renewable energy companies, is continuing to strengthen its support for global climate action, with the capacity of its clean energy project portfolio rising 40 percent in 2021. The electricity generation capacity of all projects Masdar has invested in – either installed or under development – increased from 10.7 gigawatts ...

Bloomberg Argentine President Alberto Fernandez called on his government to implement “all necessary measures” to combat 52% inflation that’s been aggravated by the surge of global commodity prices due to the Russia’s invasion of Ukraine. In a sombre, 18-minute speech, Fernandez said his ministers would start rolling out new measures without providing specifics. Earlier in the week, he declared a ...

  Bloomberg Italy’s economy is strong enough to handle a slowdown and its debt will remain manageable even as European Central Bank stimulus winds down, Prime Minister Mario Draghi said. “I don’t see risks for Italy’s debt,” he said after a meeting of European Union leaders in Versailles, France. “We are ready to withstand a temporary slowdown in growth, and ...

  Bloomberg More than 100 UK-listed companies have warned of negative effects from the war in Ukraine, with few of them so far quantifying the impact on their earnings, according to research by Bowmore Asset Management. The majority of the 115 companies the firm identified cautioned about effects specific to their businesses in the region, while many others referred to ...

  Bloomberg Brazil’s Supreme Court banned the popular messaging service Telegram, in a widening crackdown on what authorities describe as fake news and hate speech in the lead-up to presidential elections later this year. Justice Alexandre de Moraes ordered internet providers and digital stores to block the app after repeated attempts by the federal police to get in touch with ...