News

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 ...

ABU DHABI / WAM Shuaa Capital, an asset management and investment banking platform in the region, announced that it has launched a $200 million “SHUAA Financing Opportunities Fund” targeting special situations in the GCC. The fund has already attracted a total of $68 million in commitments from investors. Following Shuaa’s recent success in the private credit space in deploying and ...

Bloomberg More than 200 companies, lobbying groups and foreign governments have given business to President Donald Trump’s resorts and hotels, while gaining benefits from him and his administration, an investigation by the New York Times found. During Trump’s first two years in office, the Times reported, 60 customers paid Trump’s family owned business about $12 million, and almost all had ...

Bloomberg Prime Minister Justin Trudeau unveiled a new plan to help businesses pay rent amid a second wave of coronavirus in Canada. The Canada Emergency Rent Subsidy will provide funding of up to 65% of rental or mortgage costs for businesses suffering from revenue declines, depending on the scale of losses. Businesses forced to close due to local shutdown orders ...