News

  Sharjah / WAM Sharjah Islamic Bank (SIB) recorded net profit of AED514.1 million for the year ended in December 31, 2021, an increase of 26.7% compared to AED405.8 million for the same period in 2020. The bank also reported AED850.7 million in operating profits , an increase by 21.9%, compared to AED697.7 million in the previous year. Despite the ...

  DUBAI / WAM UAE consumers are leading the way globally in prioritising sustainability as a food and drink mandate, a new survey by Bord Bia revealed. Bord Bia, the Irish food board, explored purchasing habits across 13 countries to better understand how different markets are responding to these changes. The pandemic has inadvertently accelerated a shift in shopping and ...

  Bloomberg Global oil markets look tighter than previously thought as demand suffers surprisingly little impact from the latest coronavirus strain while supplies are curbed by disruptions, the International Energy Agency (IEA) said. The surplus facing world markets this year is shrinking, with oil demand — slightly upgraded from last month — on track to hit pre-pandemic levels of 99.7 ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the leading International Financial Centre in Abu Dhabi, on Wednesday announced that it had achieved a “carbon-neutrality” status by offsetting its 2021 carbon emissions as an organisation. It reinforces ADGM’s commitment to building a progressive and more sustainable economy, and in addition, positioning ADGM as the first IFC in the world ...

  ABU DHABI / WAM The central bank of the United Arab Emirates (CBUAE) and the central bank of the Republic of Turkey (CBRT) on Wednesday announced the establishment of a bilateral currency swap agreement between the UAE dirham (AED) and the Turkish lira (TRY). The nominal size of this swap agreement is mutually AED18 billion ($4.90 billion) and TRY ...

  ABU DHABI / WAM Masdar City, Masdar’s pioneering sustainable urban development in Abu Dhabi, through its Masdar Green Real Estate Investment Trust (Reit), signed a financing commitment in the amount of $200 million with First Abu Dhabi Bank (FAB) relating to financing of the Reit portfolio to facilitate further acquisitions and portfolio growth. FAB will act as sole mandated ...

  ABU DHABI / WAM The Barakah Nuclear Energy Plant in the Al Dhafra Region of Abu Dhabi will prevent more carbon emissions than previously expected. This was announced during Abu Dhabi Sustainability Week, showcasing the essential role that nuclear energy plays in combating climate change and promoting sustainable development in the UAE and around the world. New data made ...

  Dubai / WAM A diverse range of technologically advance and innovative products will be displayed at Airport Show 2022 in Dubai. The 21st edition of the event will be held from May 17-19 at the Dubai World Trade Centre (DWTC), according to a press release issued by the organisers on Wednesday. The world’s largest airport industry B2B platform, organised ...

  Abu Dhabi / WAM The Barakah Nuclear Energy Plant in the Al Dhafra Region of Abu Dhabi will prevent more carbon emissions than previously expected. This was announced during Abu Dhabi Sustainability Week, showcasing the essential role that nuclear energy plays in combating climate change and promoting sustainable development in the UAE and around the world. New data made ...

  Dubai / WAM A diverse range of technologically advance and innovative products will be displayed at the Airport Show 2022 in Dubai. The 21st edition of the event will be held from May 17-19 at Dubai World Trade Centre (DWTC), according to a press release issued by the organisers on Wednesday. The world’s largest airport industry B2B platform, organised ...