News

Bloomberg As dividends are slashed around the world, the $42 billion in promised payouts by China’s biggest banks have a powerful defender — the Communist Party. Industrial & Commercial Bank of China Ltd. (ICBC) and its three biggest peers are returning more than 30% of their 2019 earnings to shareholders, implying an average dividend yield of more than 6%. That’s ...

Emirates Business Etihad Airways continues to increase the number of special flights it is operating from Abu Dhabi to several key destinations around the world, as it prepares for an eventual return to scheduled flights, subject to the lifting of current travel restrictions. Throughout May, the airline will increase frequencies on recently announced special flights from Abu Dhabi to Amsterdam, ...

DUBAI / WAM Dubai Gold & Jewellery Group (DGJG), the trade body for the gold and diamond jewellery sectorin Dubai, announced the re-opening of iconic Deira Gold Souk, in accordance with the directives by the Supreme Committee of Crisis and Disaster Management. Starting April 26, the retailers within the souk began operating at reduced trading hours – retail stores to ...

Dubai / Emirates Business ENOC Group extended its support to Emirates Red Crescent safety awareness campaign to raise awareness among the community on safety and precautionary measures to avoid the spread of Covid-19. Enoc Group provided Emirates Red Crescent an allotted space in 20 Enoc and EPPCO service stations, where volunteers distributed safety kits comprising gloves, face masks as well ...

DUBAI / WAM The branch of Dar Al Ber Society (DABS) in Ras Al Khaimah announced providing happiness for 435 families, at a total value of AED 1,743,095, in the first quarter of 2020. Ali Abdullah Al-Shehhi, director of the society’s branch in the emirate, said that the revenues of donations and charitable endowment projects during the first three months ...

ABU DHABI / WAM The value-added of the healthcare system in the emirate of Abu Dhabi amounted to AED2.865 billion in 2019, a YoY growth of 2.2 percent, with the sector’s gross fixed capital formation for same year staying at AED2.758 billion, according to Mohammed Ali Al Shorafa Al Hammadi, Chairman of Abu Dhabi Department of Economic Development. Al Hammadi ...

ABU DHABI / WAM Abu Dhabi Power Corporation (ADPower) announced the world’s lowest tariff for solar power. This came as ADPower’s subsidiary, Emirates Water and Electricity Company (EWEC), delivered a virtual read-out of five consortia’s technical and commercial bids for the 2 GW Solar Photovoltaic (PV) Independent Power Producer (IPP) project – to be located in Abu Dhabi. The project ...

Abu Dhabi / WAM Abu Dhabi Health Services Company (Sena) completed around 20,000 coronavirus tests for mall and shop employees across Abu Dhabi. The initiative of Seha the UAE’s largest healthcare network, also enhanced the employees’ awareness about Covid-19, its symptoms and how to appropriately follow the outlined precautionary measures, said a Seha press release. This was done in collaboration ...

FUJAIRAH / WAM Oil product stockpiles at Port of Fujairah rose 6.1 per cent week on week to 24.65 million barrels, marking the highest level in two weeks, according to data exclusively obtained by S&P Global Platts on Wednesday. The gains were led by light distillate stocks jumping 24 per cent week on week to 7.466 million barrels, an eight-week ...

Abu Dhabi / Emirates Business Etihad Airways continues to increase the number of special flights it is operating from Abu Dhabi to several key destinations around the world, as it prepares for an eventual return to scheduled flights, subject to the lifting of current travel restrictions. Throughout May, the airline will increase frequencies on recently announced special flights from Abu ...