News

Bloomberg Passenger-car sales in Europe’s five biggest markets tumbled by more than a quarter last month after lockdowns to combat the pandemic shuttered dealerships and consumers shied away from large purchases. Registrations fall 28% across Germany, the UK, France, Italy and Spain in January from the year-earlier period, according to Bloomberg Intelligence analyst Michael Dean. With lockdowns still in effect ...

Bloomberg The energy crisis crippling Texas’s power system continued to spread, with nearly 5 million people across the US plunged into darkness as authorities fought to avoid a total collapse of the grid. Homes and businesses from North Dakota to Texas are losing power in the middle of an unprecedented deep freeze that has broken daily temperature records in hundreds ...

ABU DHABI / WAM Edge, the UAE’s advanced technology group for defence and beyond, on Monday announced it signed a tri-party strategic cooperation agreement with Ukrainian state-owned defence conglomerate UkrOboronProm, and Ukrspecexport, a Ukrainian state-owned arms trading company. The agreement will enable the three entities to exchange and develop advanced technologies that could lead to over $1 billion worth of ...

ABU DHABI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the value of non-oil trade between the UAE and Africa totalled $40.7 billion in the first nine months of 2020, compared to $36.9 billion in the same period of 2019, underscoring the growing trade between the UAE and African countries despite 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/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 ...