News

  Abu Dhabi / WAM Emirates Global Aluminium (EGA) on Thursday announced the early, full repayment of the project finance facilities extended by 13 export credit agencies and banks for the development of the company’s Al Taweelah smelter in Abu Dhabi. The project financing was extended to Emirates Aluminium, now an EGA subsidiary, for phase one of the project in ...

  Abu Dhabi / WAM AD Ports Group has announced the signing of an agreement with China-based Shandong Port Group, to establish a Tyre Hub at Kizad for the storage and distribution of tyres. AD Ports Group will provide space for an upcoming 150,000 sqm facility in Kizad under its Industrial Cities and Free Zone Cluster. This will include warehouse ...

  Dubai / Gulf Time As the year draws to a close, a high volume of passengers are expected to surge through Dubai International to meet their travel plans for the New Year celebrations and the holidays season. With nearly 1 million travellers departing and arriving into Dubai, the peak travel period will last through January 10, 2022. In line ...

  Bloomberg Oil held near a one-month high after industry data pointed to another drop in US crude inventories and traders bet the fast-spreading Omicron variant would prove to be less severe than earlier virus waves. West Texas Intermediate was steady near $76 a barrel after gaining 11% over the past five sessions. The American Petroleum Institute reported nationwide crude ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday received a phone call from President of Niger, Mohamed Bazoum, dealing with cooperation and joint work in all fields and the promising opportunity to promote it, especially in the investment, economic, ...

  Abu Dhbai / WAM National Marine Dredging Company (NMDC), the UAE’s leading contractor in the field of engineering, procurement, construction and marine dredging in the Middle East spanning vital sectors, creating solutions that meet the challenges of the future in the energy EPC sector, has won an AED1.3 billion contract from AD Ports Group for the engineering and construction ...

  Dubai / WAM From investment deals to climate goals, cross-border collaboration to multi-national festivals, the first three months of Expo 2020 Dubai have seen a plethora of link-ups between countries, organisations, and artists, showing that exhibition is truly exemplifying its theme, ‘Connecting Minds, Creating the Future’. In early October, Uganda signed business deals worth $650 million while in the ...

  SHARJAH / WAM Dana Gas received a payment of $39 million (AED143 million) from the Egyptian government in December, the company announced on Wednesday. This has reduced its receivables from the North African state below $30 million to its lowest levels since commencing operations there in 2007. It also complements what has already been a year of significant increases ...

  Dubai / WAM POIC Sabah Sdn Bhd has joined the World Logistics Passport (WLP), the world’s first freight programme designed to increase trading opportunities between markets and accelerate the flow of global trade. The joining will enhance Malaysia’s access to global markets and strengthen the programme in the country and across Asia, offering key businesses unmatched opportunities and direct ...

  Abu Dhabi / WAM The Abu Dhabi Department of Energy (DoE) has issued the ‘2020 Annual Technical Report for Water, Wastewater, and Electricity Sectors in the Emirate of Abu Dhabi’, as part of its role as the regulatory entity tasked with monitoring and enhancing the energy sector’s performance in the emirate. The objective of the report is to enable ...