News

ABU DHABI / WAM Adnoc Distribution on Monday reported that its net profit for the fourth quarter of 2020 grew to AED851 million, with underlying EBITDA (EBITDA excluding one-offs and inventory gains/losses) of AED1.1 billion. For the year 2020, net profit was AED 2.4 billion, while underlying EBITDA stood at AED3.6 billion. Adnoc Distribution has maintained a strong balance sheet ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, sent a cable of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on the death of Princess Lamia bint Hathloul bin Abdulaziz Al Saud. HH Sheikh Khalifa expressed his heartfelt condolences and solace on the death of Princess Lamia. His ...

BAHRAIN/ WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, on Monday announced that one of Investcorp’s affiliates has acquired a portfolio of 13 multi-let industrial assets in South Wales. The acquisition continues Investcorp’s strategy of investing in industrial real estate and represents its first real estate investment in the Welsh market, the company ...

ABU DHABI / WAM Mubadala Investment Company has announced the signing of a number of Memoranda of Understanding with various Ukrainian government and private entities. Held at Masdar City during a visit by Ukrainian President Volodymyr Zelensky, the First Lady of Ukraine Olena Zelenska, and other high-level government officials and dignitaries, three MoUs were signed with Ukrainian government entities that ...

ABU DHABI / WAM The Abu Dhabi Convention and Exhibition Bureau (ADCEB) has announced that it won the ‘Best Marketing Destination’ award at the MICE China Forum and Awards. Part of the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), ADCEB is the lead body overseeing and supporting the development and promotion of business events in the ...

Abu Dhabi / WAM Adnoc Distribution on Monday reported that its net profit for the fourth quarter of 2020 grew to AED851 million, with underlying Ebitda (Ebitda excluding one-offs and inventory gains and losses) of AED1.1 billion. For the year 2020, net profit was AED 2.4 billion, while underlying Ebitda stood at AED3.6 billion. Adnoc Distribution has maintained a strong ...

Abu Dhabi / WAM The National Central Cooling Company (Tabreed) on Monday released its audited financial results for 2020. Tabreed reported a 16.5 percent increase in 2020 net income to AED550 million. The results showed that Tabreed added 39.6k Refrigeration Tons (RT) of organic capacity growth and 181.5k RT of inorganic capacity additions, resulting in the delivery of 1,403,819 RT ...

DUBAI / WAM DMCC – the world’s flagship Free Zone, business hub and Government of Dubai Authority on commodities trade and enterprise – announced record-breaking performance in 2020, despite the Covid-19 pandemic. Some 2,025 new companies joined the DMCC in 2020, the highest number of registrations in five years. Retention rate remained at an all-time high. This was primarily due ...

SHARJAH / WAM The Emirate of Sharjah has focused on exploring, developing, and implementing leading digital solutions to streamline services to UAE citizens, residents and visitors across Sharjah. Founded in 2018, the Sahab Smart Solutions is today spearheading the digital transformation journey of the emirate as part of the UAE’s wider national economic development and diversification efforts. Sahab Smart Solutions ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 162,774 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Monday, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary ...