News

ABU DHABI / WAM The central bank of the UAE (CBUAE) has announced that it has been working with SWIFT on an initiative to further enhance the speed and transparency of cross-border payments. The CBUAE will be the first central bank globally to implement such an initiative. The integration between the CBUAE’s domestic UAE Funds Transfer System (UAEFTS) and SWIFT’s ...

Dubai / WAM During the month of April, the Dubai Gold and Commodities Exchange (DGCX) registered a monthly Average Open Interest (AOI) of 179,554 contracts. The DGCX’s Indian Rupee Quanto Futures Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 562% during the month, as market participants looked to hedge their risk amid market volatility. Additionally, the DGCX’s ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has said that supporting and advancing the UAE Armed Forces and defence industries will remain a strategic priority. In a statement to mark the 45th anniversary of the Armed Forces Unification Day, carried by the ‘Nation Shield’ journal, His Highness Sheikh Khalifa bin Zayed paid tribute to ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) conducted 204,724 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding scope of testing nationwide to facilitate early detection of coronavirus cases and carry out the necessary treatment. As part of its intensified testing ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that Armed Forces unification was a historic achievement that underscored the perseverance of the Founding Fathers and their determination to advance and establish the Union’s foundations. In a statement to the Nation Shield, the official journal ...

Abu Dhabi / WAM The UAE-Caribbean Renewable Energy Fund (UAE-CREF), the largest renewable energy investment of its type in the region, which is fully financed by Abu Dhabi Fund for Development (ADFD), announced the signing of an engineering, procurement and construction (EPC) contract to build a hurricane-resistant clean energy project worth $50 million in Dominica. Masdar, one of the world’s ...

ERBIL / WAM The Khalifa bin Zayed Al Nahyan Foundation, in cooperation with the Consulate General of the UAE in the Iraqi Kurdistan region, has provided financial assistance to the displaced Iraqis in the Debaga camp located on the outskirts of Erbil Governorate. The move aimed at alleviating the displaced suffering in the face of the difficult conditions, especially in ...

Bloomberg Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. The world’s biggest energy firm kept its quarterly payout at $18.75 billion. The money is a vital source of cash for the kingdom. The bumper results follow those last week ...

Abu Dhabi / WAM The General Authority of Civil Aviation and the National Emergency Crisis and Disasters Management Authority announced the extension of the suspension of entry for travelers from India on all flights on national and foreign carriers, as well as for transit passengers coming from India, with the exception of transit flights traveling to the UAE and bound ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday, it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. This programme supports Adnoc’s ongoing efforts to enhance its approach to procurement and maximise value for Adnoc and its community of suppliers and service providers. The programme standardises the terms and conditions ...