News

ABU DHABI / WAM The UAE and Saudi Arabia allocated 540,000 tonnes of wheat to the Sudanese people, meeting the population’s ba-sic food requirements for thr-ee months, announced Abu Dhabi Fund for Development (ADFD) on Wednesday. ADFD Director-General Mohammed Saif Al Suwaidi said, “The food security support provided to the Sudanese people is in line with the wise directives of ...

ABU DHABI / WAM The third batch of Emirati engineers and physicists completed their one-year intensive nuclear regulatory development progam at the UAE’s Federal Authority for Nuclear Regulation (FANR). The graduates, comprising sev-en young Emiratis, will begin their nuclear career at the authority. During the year, developees gained fundamental training to underst-and technical concepts applicable to nuclear engineering, radiation safety ...

ABU DHABI / WAM The combined net profits of 18 national banks listed on the country’s financial markets rose to AED24.5 billion in the first half of 2019, compared to AED21 billion in the same period of 2018, an increase of 16.6 percent. These statistics reflect the solidity of the UAE’s banking sector, despite the slowdown faced by its counterparts ...

Bloomberg US technology companies would pay an additional $1 billion a month or more in tariffs if President Donald Trump follows through on his threat to impose duties on additional Chinese imports next month, a trade group said. Trump said last week that he plans to add a 10 percent tariff on essentially all remaining Chinese imports — a category ...

ABU DHABI / WAM Abu Dhabi National Takaful (ADNTC) announced a combined net profit of AED65.4 million in H1, achieving significant growth of 35 percent compared to AED48.5 million for same period last year. According to financial results as at end of second quarter on June 30, the underwriting profit reached AED46 million showing an increase of 27 percent compared ...

Bloomberg Gold futures rallied above $1,500 an ounce on sustained demand for the traditional haven as the US-China trade war festers, global growth slows and central banks around the world ease monetary policy. The metal advanced 2.6 percent an ounce on Comex to highest since 2013. The move extends this year’s climb to 18 percent, with gains underpin-ned by inflows ...

Sharjah / Emirates Business Air Arabia (PJSC) announced strong financial and operational results for the second quarter of this year ending on June 30, as the Middle East and North Africa’s first and largest low-cost carrier continued to deliver robust and sustained performance. Air Arabia registered a record net profit of AED 210 million for the three months ending on ...

ABU DHABI / WAM Etihad Airways will introduce the Boeing 787 Dreamliner on its flights from Abu Dhabi to Jakarta, Indonesia, and will upgrade its daily morning service to Male, Maldives, to the wide-body aircraft on a seasonal basis, it was announced on Wednesday. In a press statement, the carrier said the airline’s two daily scheduled services from Abu Dhabi ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced a strategic investment in global storage terminal owner and operator VTTI BV (VTTI). As part of this agreement, Adnoc will acquire a 10 percent equity stake in VTTI. Following the transaction, VTTI will be owned 10 percent by Adnoc, 45 percent by IFM Global Infrastructure Fund ...

DUBAI / WAM The Chairman of Ajman Free Zone, Sheikh Ahmed Bin Humaid Al Nuaimi has met with Tielan Peng, Chairman of Hunan Group and Gulf Chinese Trading Corporation to discuss further strengthening trade opportunities between the two organisations. The Gulf Chinese Trading Corporation is a committed investor in Ajman and is the entity behind the China Mall which was ...