News

Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa), announced on Tuesday the successful financial closing for the largest gas-fired power plant in the UAE. The AED4.2 billion Fujairah F3 Independent Power Producer (IPP) project will have a power generation capacity of 2.4 GW – equivalent to the powering of 380,000 UAE households. The power plant is expected to ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) published its Financial Stability Report (FSR) which provides information, analysis and an assessment of the resilience and matters that require additional support in the banking and financial system in the UAE promoting public understanding and transparency. The report covers macro-financial conditions, regulatory developments, assessments of the banking and finance ...

Bloomberg Oil dropped to trade near $40 a barrel before US government data that’s forecast to show gasoline stockpiles increased, while rising virus infections raised concern stricter controls will be extended. US gasoline supplies expanded by one million barrels last week, according to a Bloomberg survey, while nationwide crude stockpiles are projected to have fallen for a second week. Official ...

Bloomberg Hotter temperatures by 2100 could slash global GDP by more than 20%, according to new research, and the way the economic impact will be distributed threatens to turn climate change into an enormous driver of worldwide inequality. A new analysis of the relationship between heat and economic performance released this week by Oxford Economics, a global forecasting firm, identified ...

Abu Dhabi / WAM Dubai Exports announced they will co-host the UAE’s major virtual international buyers forum in partnership with Abu Dhabi Exports Office (Adex), and Etihad Credit Insurance (ECI) in a unified effort to boost the emirate’s export economy and increase foreign business to drive economic recovery for Dubai businesses. The announcement of the forum – which will be ...

Dubai / Emirates Business dnata, one of the world’s largest air services providers, has donated three pieces of cargo handling equipment to Dubai-based International Humanitarian City (IHC), the largest humanitarian hub in the world, to support the organisation in facilitating rapid relief and first responses to crises, including the Covid-19 pandemic, at a global level. dnata has donated a cargo ...

ABU DHABI / WAM Agthia Group on Tuesday announced the appointment of Alan Smith as its new Chief Executive Officer (CEO). Alan succeeds Jamal Salem Al Dhaheri, Acting CEO of Agthia Group, who was appointed in March 2020 by the company’s Board of Directors for a transition period. Agthia is a leading Abu Dhabi-based food and beverage company listed on ...

Abu Dhabi / WAM The UAE Government will complete more than two million Covid-19 tests during the next two months to continue to curb the spread of the virus. The announcement was made at the UAE Government’s regular media briefing wherein Dr Amna Al Dahak Al Shamsi, official spokesperson of the UAE Government, provided an update on Covid-19 and all ...

Abu Dhabi / WAM The Abu Dhabi Judicial Department (ADJD) organised a remote training workshop for lawyers on the “novelty in the bankruptcy and restructuring system in the light of Emirati and American legislations”. This was through the training platform of the Abu Dhabi Judicial Academy, with the participation of 120 lawyers registered with the department, in addition to a ...

ABU DHABI / WAM Etihad Airways is gradually resuming services to more destinations across its global network. This follows the easing of travel restrictions by UAE regulatory authorities on outbound and inbound travel for citizens and residents. All travel remains subject to the entry and health regulations set by the UAE authorities, and those at the end destination. Throughout July ...