News

  Abu Dhabi / WAM ADQ, an Abu Dhabi-based investment and holding company, on Friday announced that the central bank of the UAE had granted in-principle approval to launch a new digital banking platform, which will be called “Wio”. With its headquarters in Abu Dhabi, Wio will enhance the capital’s growing reputation as a global financial services centre at the ...

  Abu Dhabi / WAM The UAE and Israel signed a memorandum of understanding (MoU) to strengthen their tourism and economic cooperation and reinforce their bilateral ties. The MoU was signed by Dr. Ahmed Belhoul Al Falasi, Minister of State of Entrepreneurship and SMEs and Chairman of the Emirates Tourism Council, and Yoel Razvozov, Israeli Minister of Tourism, who is ...

  Sharjah / WAM Adnoc Drilling company on Friday announced its financial results for the fourth quarter and full-year ending December 31, 2021, with a net profit for the full year $604 million, up 6 percent year-on-year. A press release by Adnoc Drilling said that the company’s revenue for the 12 months increased 8.2 percent to $2.27 billion compared to ...

  Dubai / WAM Young travellers flying Emirates as unaccompanied minors can now relax and wait for their flight in a newly upgraded lounge dedicated for them at Dubai International Airport, located next to Emirates’ First Class Lounge in Concourse B. Emirates’ lounge for unaccompanied minors is open 24/7, and the newly upgraded facility offers fun video games, drinks and ...

  Abu Dhabi / WAM Abdullah bin Touq Al Marri, Minister of Economy, Robert Abela, Prime Minister of Malta, and Silvio Schembri, Minister of Economy and Industry of Malta, discussed enhancing economic cooperation between the UAE and Malta. The meeting took place on the sidelines of Al Marri’s official visit to Malta from February 6-11. Sameh Al Qubaisi, Director-General of ...

  Abu Dhabi / Gulf Time Sergas Group signed a strategic partnership agreement with Royal Strategic Partners, an affiliate company of Strategic Investment Capital which specialises in investment, development, establishment and management of real-estate projects. The agreement aims at enhancing the infrastructure in the gas sector in Mena region and other areas. Agreement signing took place at Sergas Abu Dhabi ...

  Bloomberg The UK economy expanded at the fastest pace since World War II last year after suffering a milder hit than expected in December. The 7.5% expansion was the largest since 1941 and made Britain the fastest-growing advanced economy in 2021. The economy nonetheless remained smaller in the fourth quarter than at the end of 2019, before the pandemic ...

  Bloomberg There’s a big upside to record used-car prices: Auto lenders like GM Financial are cashing in. General Motors Co.’s lending unit booked a $2 billion gain last year reselling the vehicles that came back from expired leases and anything the company repossessed, according to a regulatory filing. That helped GM Financial to nearly double its annual profit to ...

  Bloomberg Chancellor Olaf Scholz said Germany could loosen some pandemic restrictions next week as the country’s outbreak shows signs of peaking. While contagion rates are continuing to post records on a daily basis, the pace of the increases have slowed. Meanwhile, Covid-19 cases in intensive-care facilities are less than half the level in early December. That’s prompted calls for ...

  Bloomberg Federal, state and local law-enforcement agencies across the US are bracing for the possibility of a protest by truckers that could begin this weekend and carry into March, potentially including a cross-country caravan and disruptions to cities and major transportation routes. Although it’s still not clear how serious the threat is, the US Department of Homeland Security warned ...