News

BEIJING / WAM Dubai-based global developer Emaar will jointly implement with Beijing Daxing International Airport an AED40.5 billion ($11 billion) project including the five square kilometre land area of the 50 sq km airport. The move is in line with the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander ...

ABU DHABI / WAM The central bank has announced that the money supply aggregate M1 ascended by 0.1 percent, from AED507.2 billion at the end of May 2019 to AED507.9 billion at the end of June 2019. The money supply aggregate M2 rose by 2.2 percent, from AED1321.3 billion at the end of May 2019 to AED1351 billion at the ...

ABU DHABI / WAM The consortium consisting of EDF Renewables and Abu Dhabi Future Energy Company (Masdar) completed the financing of the Dumat Al Jandal utility-scale wind project in Saudi Arabia, with the backing of Saudi and international banks. The Renewable Energy Project Development Office (REPD) of Saudi Ministry of Energy, Industry and Mineral Resources awarded $500 million Dumat Al ...

DUBAI / WAM Dubai Land Department (DLD) launched Manzili initiative with-in framework of a strategic partnership between public and pri- vate sectors to develop Dubai’s real estate market. Sultan Butti bin Mejren, Director-General of DLD said the initiative will have a positive effect on the real estate sector.

Bloomberg Oil eased gains as traders digested conciliatory remarks by British authorities after Iran’s seizure of its oil tanker, amid heightened tensions in the region. Futures in New York added 2.2 percent before trading close to little changed. The UK demanded the immediate release of the Stena Impero, which was taken by Iran’s Revolutionary Guard Corps in the Strait of ...

BEIJING / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Xi Jinping, President of the People’s Republic of China, held formal talks on strengthening bilateral comprehensive strategic partnership as well as a nu-mber of regional and internati- onal issues of mutual interest. At the ...

BEIJING / WAM Ahmed Ali Al Sayegh, Minister of State and Chairman of the Abu Dhabi Global Market, has said that the relations between the UAE and China have registered major accomplishments over 35 years in the areas of trade and investment. In an interview with the Emirates News Agency (WAM), he stressed that the visit of His Highness Sheikh ...

BEIJING / WAM The UAE and China have maintained a deep respect and support of each other for decades, said Ahmed Ali Al Sayegh, Minister of State and Chairman of Abu Dhabi Global Market (ADGM). Al Sayegh’s comments were made following the signing of four strategic agreements with key institutions in China to deepen financial collaborations and economic ties. His ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA) said that it is now a member of the Central Banks and Supervisors Network for Greening the Financial System (NGFS), becoming one of the first regulatory authorities in Middle East and North Africa region to join the NGFS. The NGFS is a group of Central Banks and Supervisors willing, on a ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Monday signed a strategic framework agreement with China National Offshore Oil Corporation (CNOOC) to explore new opportunities for collaboration in both the upstream and downstream sectors as well as in liquefied natural gas (LNG). The exchange of the signed agreement was witnessed by His Highness Sheikh Mohamed bin ...