News

Abu Dhabi / Emirates Business Abu Dhabi Islamic Bank’s (Adib) Board of Directors on Tuesday appointed UAE national Nasser Abdulla Al Awadhi as Adib’s new Group Chief Executive Officer starting from January 9, 2022 subsequent to UAE central bank approval. Nasser brings over 33 years of experience in banking and is a leading practitioner in Islamic finance, having held a ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Tuesday announced record investments worth up to almost $6 billion (AED22 billion) to enable drilling growth as it boosts its crude oil production capacity to 5 million barrels per day (mmbpd) by 2030 and drives gas self-sufficiency for the UAE. The announcement was made at the Abu Dhabi ...

Dubai / WAM Edge Group entity (EPI), the precision engineering backbone of the UAE’s aerospace and defence industry, and Strata Manufacturing (Strata), the advanced manufacturing facility wholly-owned by Mubadala Investment Company PJSC (Mubadala), signed a framework agreement which will further boost the establishment of a sustainable aerospace industry in Abu Dhabi. The agreement between the two UAE companies, signed by ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan issued the Federal Decree – Law No.33 of 2021 on the regulation of labour relations in the private sector that will take effect from February 2, 2022. The new decree-law seeks to enhance the elasticity, resilience and sustainability of the labour market nationwide, as well as ensure ...

Dubai / WAM Emirates announced at the Dubai Airshow 2021 on Tuesday that it will retrofit 105 of its modern wide-body aircraft with its Premium Economy product, in addition to other cabin enhancements. The 18-month retrofit programme, scheduled to begin at the end of 2022, will be entirely conducted at Emirates’ state-of-the-art Engineering Centre in Dubai. It will see 52 ...

DUBAI / WAM The Mohammed Bin Rashid Initiative for Global Prosperity Monday announced that it will host the Global Prosperity Conference to explore the role of start-ups, disruptive business models, and digital innovations to support the advancement of the United Nations Sustainable Development Goals (SDGs) and drive global good. Reinforcing the importance of technology as a key tool for positive ...

Dubai / WAM On the second day of Dubai Airshow 2021, the Ministry of Defence announced the conclusion of 5 deals at the value of AED11,284,837,000.00 with local and international companies. The total number of deals in these two days have been 10 contracts with a total value of AED16,524,044,000.00. The deals of the first day amounted to AED5,239,207,000. This ...

ABU DHABI / WAM This year’s Adipec — the global energy industry’s largest, most important and influential event — opened on Monday and will run until November 18 to offer face-to-face meetings for the energy industry following the challenges of Covid-19. The event is held under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and hosted ...

DUBAI / WAM Tawazun Economic Council (Tawazun) and Bahrain Defence Force (BDF) have signed a Memorandum of Understanding (MoU) to boost cooperation in defence industries and to exchange information and expertise on industrial participation and offset programmes. Present at the signing ceremony were Kamal bin Ahmed Mohammed, Bahraini Minister of Transport and Telecommunications; Matar Salem Al Dhaheri, Under-Secretary of the ...

DUBAI / WAM Emirates Development Bank (EDB) has announced the signing of a strategic agreement with Dubai Industries & Exports (Dubai IE) to provide innovative financing and banking solutions to SMEs and corporates aimed at supporting the growth of UAE’s industrial sectors and exports. Signed by Ahmed Mohamed Al Naqbi, CEO of EDB, and Saed Al Awadi, CEO of Dubai ...