News

ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday reported a profit of AED1.74 billion ($473 million) for the first half of 2021, the company’s strongest half-year financial performance ever. EGA’s adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (adjusted EBITDA) was AED3.49 billion ($950 million), up 111 percent on the same period last year. Some 86 percent of ...

Abu Dhabi / WAM The Global Manufacturing and Industrialisation Summit (GMIS) and Etisalat announced a partnership to accelerate the deployment of the fifth generation of wireless networks (5G) to promote digital transformation both in the United Arab Emirates and globally. As a strategic partner to GMIS, Etisalat will share best practices from its experience in rolling 5G communication networks and ...

Abu Dhabi / WAM The Abu Dhabi Waste Management Centre (Tadweer) has signed new operational contracts to provide pest control services in the northern region of Al Ain City. The centre has awarded contracts worth AED148.224 million which includes an AED74.655 million contract to Alphamed Abu Dhabi to provide pest control services in the sixth sector, and an AED73.569 million ...

Dubai / WAM Zayed University (ZU) has signed an alliance agreement with UN Women, the United Nations entity for gender equality and women’s empowerment, to tackle harmful stereotypes of women and men in media and advertising. As the first academic institution in the region to become an ally of the UN Women’s Unstereotype Alliance, UAE chapter, Zayed University will drive ...

DUBAI / WAM Dubai is gearing up to host the region’s first official Snow Volleyball tournament in the second half of October this year in Ski Dubai at Mall of the Emirates. Held under the auspices of Fédération Internationale de Volleyball (FIVB), the four-day tournament is being organised by Esperia Volleyball Academy in cooperation with Dubai Sports Council and Ski ...

Abu Dhabi / WAM In cooperation with the Department of Health – Abu Dhabi, Abu Dhabi Health Services Company (Seha), the UAE’s largest healthcare network, has announced the provision of free Covid-19 PCR nasal swab tests for all students at selected Seha facilities and screening centres across the UAE. The initiative aims to implement the country leadership’s ambition to deliver ...

Abu Dhabi / WAM Abu Dhabi University (ADU) is gearing to kick-off the 2021-2022 academic year with a safe and secure hybrid learning environment that will make it easier for students to thrive and succeed. On August 29, ADU welcomed around 7,900 new and returning students to its upgraded, digitally sophisticated campuses in Abu Dhabi, Al Ain, Dubai, and Al ...

Bloomberg From Covid risks to talk of a reduction in US stimulus, there’s been no shortage of bad news for Asian currencies. An upcoming report on China’s manufacturing sector may add to the pressure. Traders are looking to Chinese factory data for clues on the global outlook after the world’s second-largest economy slowed more sharply than expected in July. The ...

Bloomberg OneDegree, a Hong Kong-based insurance technology company, raised $28 million in a new round of funding as the startup looks to expand in Asia. Sun Hung Kai & Co and AEF Greater Bay Area Fund took part in the series B1 round along with six existing investors, according to a statement on Monday. The latest investments take OneDegree’s total ...

Bloomberg Ride-hailing startup Ola has selected banks including Citigroup Inc and Kotak Mahindra Bank Ltd to manage its Mumbai initial public offering that could raise about $1 billion, according to people familiar with the matter. The company, backed by SoftBank Group Corp and Tiger Global Management, has also picked Morgan Stanley for the listing, said the people, who asked not ...