News

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a congratulatory cable to HH Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah on the occasion of his inauguration as Emir of Kuwait. “We congratulate you on the precious confidence and your assumption of the reins of power in the sisterly State of Kuwait at this important stage ...

Abu Dhabi / WAM Mubadala Investment Company, one of the world’s largest global investors, and Silver Lake, the global leader in technology investing, on Wednesday announced they are building on their existing relationship by establishing a long-term investment strategy led by Silver Lake and supported by a $2 billion investment from Mubadala. The new strategy has a unique 25-year deployment ...

ABU DHABI / WAM Expats’ remittances from the UAE amounted to AED79.6 billion in H1-2020, according to figures released by the central bank of the United Arab Emirates. These account for 48.2 percent of the total money transferred by foreign residents in the country during 2019, which totaled AED165 billion. India took home the crown as the top-receiving country for ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Wednesday that one of its new trading entities, Adnoc Trading, has started derivatives trading as a direct market participant. This represents a major milestone for the company, as it moves from being a traditional marketer of its products to a more sophisticated global trader. Adnoc has incorporated ...

Abu Dhabi / WAM Renewable energy continues to bring socio-economic benefits by creating numerous jobs worldwide, according to the latest figures released by the International Renewable Energy Agency (Irena). The seventh edition of Renewable Energy and Jobs – Annual Review shows that jobs in the sector reached 11.5 million globally last year, led by solar PV with some 3.8 million ...

DUBAI / WAM Statistics released by Dubai Customs have revealed that Dubai’s external trade in coffee generated AED3.5 billion in the last ten years. Dubai acts as a central logistic hub linking markets in the Middle East and Europe with coffee manufacturing countries such as Ethiopia, India, Indonesia, Uganda, and Vietnam. The statistics are released to coincide with International Coffee ...

Dubai / WAM Emirates Airlines has announced it introduced self check-in and bag drop kiosks for a more seamless airport experience at Terminal 3, Dubai International Airport. According to Emirates, the service is now available to customers travelling to all destinations except to the US, Canada, China, India and Hong Kong due to additional requirements from these destinations. The 16 ...

Abu Dhabi / WAM Adnoc Distribution announced the approval of an interim dividend payment to its shareholders for the first six months of 2020 of AED1.285 billion (10.285 fils per share), equivalent to $350 million. This is the first payment in what is expected to be a full-year 2020 dividend payment of AED2.57 billion (AED20.57 fils per share), reflecting a ...

Abu Dhabi / WAM The UAE has condemned an attempt by a terrorist cell linked to Iran’s Revolutionary Guard who wanted to launch sabotage operations in the Kingdom of Saudi Arabia. In a statement, the Ministry of Foreign Affairs and International Cooperation hailed the “vigilance, sophistication and efficiency” of the security apparatus in Saudi Arabia and its response to these ...

Dubai / WAM Drydocks World held a steel-cutting ceremony to mark the start of production on Jotun FPSO Fabrication of Turntable Project for Bluewater Energy Services B.V. for end client, Var Energi. According to Drydocks, this Turntable is part of a Turret Mooring System for the Jotun A Floating, Production, Storage and Offloading vessel to be permanently moored and operated ...