News

Bloomberg Libya took a major step towards reviving its battered oil industry by reopening its biggest field, as Opec+ tries to curb global supplies. The National Oil Corp, Libya’s state energy company, lifted force majeure on the western deposit of Sharara and instructed its operator to resume production, according to a statement on Sunday. The field will initially pump 40,000 ...

Dubai / WAM Damac Properties has awarded Trans Emirates Contracting, LLC, a contract worth AED181,000,000 ($49 million) to start main work construction of Zada, a 26-storey building located in coveted Business Bay neighbourhood in Dubai. The development is significant given the challenges the property market has faced in current pandemic. According to a recent survey by the global real estate ...

ABU DHABI / WAM Abdullah bin Touq Al Marri, Minister of Economy, headed the 25th meeting of UAE International Investors Council (UAEIIC) which was held virtually with the participation of Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Jamal Saif Al-Jarwan, Secretary-General of the Council, in addition to members of the council, investors and representatives ...

Abu Dhabi / WAM The UAE on Sunday sent a second aid plane carrying 12 metric tonnes of medical supplies and testing kits to Tajikistan. This aid will assist approximately 12,000 medical professionals as they work to contain the coronavirus pandemic (Covid-19). To date, the UAE has responded to the Covid-19 crisis by providing over 1,498 metric tonnes of aid ...

Abu Dhabi / WAM A renewable-energy project in the Maldives, financed by Abu Dhabi Fund for Development (ADFD), has received a certification from Global Innovation Institute (GINI) an international professional certification, accreditation and membership association in the field of innovation. The first of its kind initiative, for which ADFD provided a concessional loan of AED22 million ($6 million) in 2015, ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 133,935 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 the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

ABU DHABI / WAM Air Arabia Abu Dhabi has announced the introduction of a new service to Nepal’s capital city Kathmandu with direct flights from Abu Dhabi starting on October 17. According to Air Arabia, the new service represents the eighth route for Air Arabia Abu Dhabi since the launch of the carrier’s service from Abu Dhabi International Airport on ...

ABU DHABI / WAM Companies operating electric scooters (e-scooters) rental services in Abu Dhabi would be able to gradually resume the service starting from Monday. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport in Abu Dhabi has announced that the operators can resume the services with 25 percent capacity at specific districts of the city, namely ...

ABU DHABI / WAM ADQ, a public joint stock company with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s economy, announced on Sunday the launch of “Q Market Makers” (QMM). The new market maker began trading on Sunday on Abu Dhabi Securities Exchange (ADX). Market makers are key market participants that provide a highly effective means ...

Sharjah / WAM Sharjah-based Hamriyah Free Zone Authority (HFZA) signed an agreement to lease over half a million square feel to Alucor, an international engineering, procurement, and construction contractor. Under the agreement, Alucor leased 555,418 sq. ft of the inner harbor quayside land in the free zone to expand its operations in the region. Alucor was founded in the UAE ...