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ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), signed on Tuesday a Framework Agreement with Reliance Industries Limited (RIL), to explore the development of ethylene dichloride (EDC), facility in Ruwais, Abu Dhabi. The signing of the agreement was witnessed by Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Adnoc Group CEO, and Mukesh D. Ambani, ...

Bloomberg Saudi government institutions invested almost $2.3 billion into the initial public offering (IPO) of Saudi Aramco, a transaction that was intended to find new sources of funding for the kingdom’s economic diversification plan. The government sold two thirds of the shares offered in the company to institutional investors, of which 13.2% came from Saudi government institutions, according to a ...

ABU DHABI / WAM The Khalifa Fund for Enterprise Development (KFED), announced that it is taking part in the ongoing 10th edition of Sial Middle East at the Abu Dhabi National Exhibition Centre (Adnec). The event features top local and international food and hospitality companies. During the event, Khalifa Fund for Enterprise Development has been engaging with young Emirati entrepreneurs ...

ABU DHABI / WAM Tax revenue, including VAT, amounted to 5.5 percent of the total public revenue last year while oil revenues and the profits of public joint-stock companies accounted for 36.1 percent and 32.9 percent, respectively, according to the Ministry of Finance (MoF). The Ministry of Finance said the UAE’s decision to apply value-added tax (VAT), was positively reflected ...

Riyadh / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, arrived in Riyadh Tuesday afternoon to participate in the 40th Gulf Cooperation Council Summit, which kicked off under the chairmanship of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud. Leaders and representatives ...

ABU DHABI / WAM The UAE Banks Federation (UBF), held its annual meeting on Tuesday for Chairpersons of its 20 specialised committees to review key initiatives and achievements of 2019. Meeting participants also discussed 2020 plans and objectives for priority areas including fraud prevention, cybersecurity, and plans to establish a UBF FinTech Committee. The meeting was presided over by AbdulAziz ...

Recife / Emirates Business dnata has marked an important milestone in its ongoing commitment to safety and security in Brazil. The International Air Transport Association (IATA) awarded dnata Brazil the IATA Safety Audit for Ground Operations (ISAGO) Registration, following the successful completion of a comprehensive audit of the company and its ground-handling operations at Guararapes–Gilberto Freyre International Airport (REC). “We ...

DUBAI / Emirates Business Emirates is now set to launch its fourth daily service to Dhaka from March 29, 2020 instead of June 1, 2020, as announced earlier. The fourth daily will boost Emirates’ weekly services to Dhaka from 21 to 28, and will connect customers seamlessly across the airline’s global route network spanning six continents. Ahmed Khoory, Emirates’ Senior ...

MOSCOW / WAM The Russian capital, Moscow, in cooperation with the Institute of Oriental Studies of the Russian Academy of Sciences, hosted a Sheikh Zayed Book Award cultural seminar entitled, “Arab-Russian Literary Dialogue”. The seminar is part of a series of international seminars that aim to introduce the Russian public to the award’s key initiative and gain international nominations. The ...

Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has asserted that he will personally support programmes and efforts to empower women around the world, particularly in Africa, Asia and Latin America. The Sharjah Ruler also called on entities across Sharjah to expand their initiatives to include all communities worldwide ...