News

Abu Dhabi / WAM As part of its endeavours to strengthen and activate means of economic and investment cooperation with various countries of the world, the UAE, represented by the Ministry of Finance, signed an agreement to promote and protect mutual investments with Jersey. The agreement, which was signed at the ministry’s headquarters in Dubai, aims to encourage foreign investment, ...

Abu Dhabi / WAM The Emirates Development Bank (EDB), on Wednesday announced the signing of a Memorandum of Understanding (MoU) with National Bank of Fujairah (NBF) to offer credit guarantee and co-lending for Small and Medium-sized Enterprises (SMEs) in the UAE. The MoU with NBF is part of EDB’s commitment to boost the SME ecosystem in the UAE and increase ...

Dubai / Emirates Business Sheikh Nahyan bin Mubarak Al Nahyan, UAE Cabinet Member and Minister of Tolerance and Coexistence, inaugurated the 6th International Procurement and Supply Chain Conference 2021, in Dubai, which is the biggest of its kind in the Middle East. Emphasising that the need for a closely connected global supply chain network now is even greater, Sheikh Nahyan praised ...

ABU DHABI / WAM The UAE sent an aircraft carrying 16 tonnes of urgent medical aid to Sierra Leone, to mitigate the effects of the humanitarian disaster facing the capital, Freetown, following the explosion of a petrol station, which led to several deaths and injured dozens, most of whom were women and children. The UAE expressed its solidarity with the ...

Dubai / Emirates Business Khalifa Saif Al Muhairbi, Chairman of the Board of Directors of the Arabian Gulf Investment Company, said that the Cityscape Global Real Estate Exhibition at the “Dubai Exhibition Center” in Expo 2020 Dubai from November 9-11 is very important for real estate development and investment companies to introduce their projects. It is also an opportunity for ...

Glasgow / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, announced the UAE’s endorsement of the Policy Action Agenda for Transition to Sustainable Food and Agriculture, at a high-level event on ‘Accelerating a just rural transition to sustainable agriculture for people, climate and nature’ that took place as part of COP26 Nature Day. The document sets ...

ABU DHABI / WAM Adnoc Distribution on Tuesday reported that its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) stood at AED2.3 billion, with a net profit of AED1.7 billion for the first nine months of 2021. For the third quarter, EBITDA was AED737 million with a net profit of AED529 million. The company continues to see recovery with September ...

ABU DHABI / WAM The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, approved a temporary licence to test self-driving vehicles, a move that comes as a part of the government’s continuous efforts to adopt advanced technologies within all sectors. The meeting, held on Tuesday ...

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic) on Tuesday reported its financial results for the nine-month period ended on September 30, 2021. The company’s net profit increased by 18 percent to AED333.7 million, compared to a net profit of AED282.8 million for the same period in 2020. Adnic’s gross written premium increased by 2.4 percent to AED3.24 ...

Abu Dhabi / WAM AD Ports Group, a leading facilitator of trade and logistics, has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, for the development and operation of a multipurpose terminal in Safaga Port. The signing was conducted on the sidelines of the 4th Smart ...