News

  Bloomberg BMW AG said operating returns for its automotive business will remain robust this year, even as the war in Ukraine and a global semiconductor shortage weigh on production. The company lowered its estimate for automaking returns to between 7% and 9% for 2022, noting that the target range would have been 8% to 10% were it not for ...

  Bloomberg Workers in Europe’s biggest economies are among the least likely to be seeking pay rises in the next year, despite feeling the some of the biggest pressures from rising prices. That’s the conclusion of a global survey carried out by YouGov Plc and shared exclusively with Bloomberg News. It may allay concerns at central banks about the potential ...

  Dubai / WAM It is not just superpowers but all countries in the world require a place in the global order; and countries such as Canada and the UAE have a key role in the global arena, the Head of State of Canada told the Emirates News Agency (WAM). “It’s very important to recognise that countries like Canada and ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Monday that it has signed new memorandum of understanding (MoU) and joint study agreements (JSA) with counterparts in Germany in order to accelerate and deepen collaboration in clean hydrogen. The agreements were announced during the visit of Dr Robert Habeck, German Federal Minister for Economic Affairs and ...

  Abu Dhabi / WAM Water projects prominently figure in developmental initiatives of Abu Dhabi Fund for Development (ADFD). Estimated at AED2 billion, these initiatives collectively benefited 18 countries while also powering other sectors such as agriculture, industry and energy. The emphasis on water reflects ADFD’s commitment to the world to support efforts to achieve the UN’s Sustainable Development Goals, ...

  ABU DHABI / WAM Shareholders of Abu Dhabi Islamic Bank (Adib) have elected a new board of directors at the annual general meeting. They also approved the distribution of cash dividends of 31.1155 fils per share, which represents 48.5 percent of the bank’s net profit for the fiscal year ending December 31, 2021. During the meeting, Adib general assembly ...

  ABU DHABI / WAM Mubadala Petroleum, the Abu Dhabi headquartered international energy company, 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 key ...

  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 ...