News

Bloomberg Oil rose for a fifth day as investors weighed signs the market is rebalancing against what’s still a precarious economic outlook. Futures in New York for July delivery gained to above $32 a barrel. A report that a virus vaccine study didn’t produce enough critical data to assess its success added some caution to markets, which have been buoyed ...

ABU DHABI / WAM The total foreign currency assets held by the central bank of the UAE increased to circa AED371.6 billion ($101.17 billion) during in April this year, a growth of 1.6 percent from AED365.5 billion during the same month last year, as current account balances and deposits with foreign banks strengthened to AED331.75 billion from AED297.41 billion during the ...

Dubai / WAM Investment Corporation of Dubai (ICD) on Wednesday announced its consolidated financial results for the year ended December 31, 2019 having achieved revenues of AED228.0 billion and a net profit of AED25.0 billion. Net profit grew by 16.9 percent from the prior year to AED25.0 billion including a record contribution from banking and financial services and a strong ...

Abu Dhabi / WAM The UAE on Wednesday sent an aid plane carrying four metric tons of medical supplies to Gambia. The aid will assist approximately 4,000 medical professionals as they work to combat the Covid-19 pandemic. Commenting on the aid delivery, Omar AlMeheiri, Charge d’Affaires of the UAE Embassy in Senegal, said, “We are honoured to extend assistance to ...

ABU DHABI / WAM Abu Dhabi Developmental Holding Company (ADQ) one of the region’s largest holding companies with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s non-oil economy, has launched Alpha Wave Incubation (AWI) Fund, a new AED1.1 billion venture fund located at Abu Dhabi Global Market (ADGM). AWI will target early-stage businesses in India and ...

DUBAI / WAM The Telecommunication Regulatory Authority (TRA) holds its digital Ramadan Majlis to discuss smart government enablers on Microsoft Teams in attendance of more than 150 smart transformation pioneers representing 40 federal entities During the session, which is the final in a series of sessions held by the TRA during Ramadan, the smart government enablers team will provide some ...

ABU DHABI / WAM The Office of the United Nations Special Coordinator for the Middle East Peace Process (Unsco), expresses its gratitude to the Government of the UAE for the delivery of 14 tonnes of urgent medical supplies. The supplies will support the efforts to curb the spread of Covid-19 pandemic and its impact in the occupied Palestinian territory. The ...

DUBAI / WAM Dubai Municipality has organised a number of awareness-raising campaigns remotely in the field of food safety, using modern electronic means and social media channels, reflecting its belief in its role of creating awareness in the society to ensure the highest levels of health and safety. These campaigns targeted consumers as well as food establishments to ensure commitment ...

DUBAI / WAM The Emirates Central Cooling Systems Corporation (Empower) has announced that the total length of its district cooling pipeline network in various regions of Dubai has exceeded more than 320 kilometres by the end of 2019, with a growth of 16 percent compared to 2018. Empower has sought to expand the geographical presence of its network in order ...

ABU DHABI / WAM Etisalat Group announced on Wednesday the resignation of Saleh Al Abdooli as the group’s Chief Executive Officer (CEO). In a statement, Etisalat Group cited “personal reasons” for Al Abdooli’s resignation, adding that the board of directors had accepted the resignation and appointed Hatem Dowidar as Acting Chief Executive Officer for the Group. Dowidar is currently the ...