News

ABU DHABI / WAM Collaboration between the United States and the Organisation of the Petroleum Exporting Countries (Opec), is “not on the cards,” according to Francis R. Fannon, US Assistant Secretary for the Bureau of Energy Resources at the US Department of State. In an interview with Emirates News Agency (WAM), Fannon said the “US presence on the energy market ...

ABU DHABI / WAM Aldar Properties on Tuesday reported a 14 percent year-on-year increase in gross profit to AED662 million in the third quarter of 2019. Also, the company’s revenue increased seven percent to AED1.60 billion compared to AED1.50 billion in Q3 2018. Development management recorded 20 percent growth in revenue to AED642 million, off-plan development sales increased 272 percent ...

DUBAI / WAM Dubai Mercantile Exchange (DME), the international energy futures exchange in the Middle East, on Tuesday announced a 21 percent increase year-on-year in exchange trading activities, along with 172 percent increase in forward curve trading, following Saudi Aramco’s adoption of DME Oman in its official selling price in October 2018. In 2019, DME registered an average daily volume ...

DUBAI / WAM Dubai Islamic Economy Development Centre announced results of the State of the Global Islamic Economy Report. The seventh edition of the report presents an annual update on continued global growth of the Islamic economy, encompassing halal products, Islamic finance and related lifestyle sectors. This year’s SGIE report, produced by DinarStandard, a US-based research and advisory firm, estimates ...

Umm Al Quwain / Emirates Business This year as the UAE celebrates its National Day, Dreamland Aqua Park adds more to the festivities with its special offers that reflect the 48th year. The ‘It’s all 48’ promotion will offer visitors a never before price of AED48 per person for the first 48 minutes or for the first 48 guests every ...

DUBAI / WAM The Dubai Land Department, DLD, announced its collaboration with the US National Association of Realtors (NAR), to hold the 2020 edition of the International Real Estate Conference (IREC), in Dubai, from November 5-7, 2020, in conjunction with Expo 2020 Dubai. The next edition is expected to be the largest in the history of the conference and will ...

SHABWA / WAM The United Arab Emirates through its humanitarian arm – the Emirates Red Crescent (ERC) – has sent a relief convoy including 350 food baskets, weighing 28 tonnes, to Mayfa’a district in Yemen’s Shabwa governorate, benefiting 2,135 needy families. The gesture is part of the UAE’s humanitarian and relief efforts to reduce suffering and improve living conditions in ...

ABU DHABI / WAM Adnoc LNG announced on Tuesday it has concluded supply agreements with subsidiaries of BP and Total, effectively booking out the majority of its LNG production through Q1 2022. With the transactions, Adnoc LNG has continued to expand its footprint into new regions and markets. The agreements were signed by officials from BP, Total and Adnoc LNG ...

ABU DHABI / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Arab Youth Centre, announced the hosting of the first Arab Meeting for Young Leaders. The meeting will take place in Abu Dhabi on December 10-11, in partnership with the Arab League and several international and regional organisations, and ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday it has signed an agreement with Group 42 (G42), an Abu Dhabi based artificial intelligence, cloud and supercomputing company, to establish a joint venture to develop and commercialise market-leading artificial intelligence (AI), products for the oil and gas industry. Under the terms of the agreement, a ...