News

Bloomberg Abu Dhabi’s sovereign wealth fund agreed to buy about a 30% stake in Domestic & General Group Ltd, the UK appliance warranty provider owned by CVC Capital Partners. The deal with the Abu Dhabi Investment Authority (Adia) is expected to close by year-end, Domestic & General said in an emailed statement Wednesday, which confirmed an earlier Bloomberg News report. ...

ABU DHABI / WAM More than 200 of the respected energy experts, pioneers and decision makers from around the globe have now been lined up to lead the discussions at the 24th World Energy Congress in Abu Dhabi. To be held from September 9 to 12 at Abu Dhabi National Exhibition Centre (Adnec), the event will mark the first time ...

FUJAIRAH / WAM Stockpiles of oil products at the Fujairah port in the UAE increased for the first time in six weeks, against a backdrop of strong summer demand from utilities in the region and for jet fuel from Europe, data by the Fujairah Oil Industry Zone showed. Total stockpiles rose 4.2 percent over the past week to 19.36 million ...

Bloomberg Oil jumped to the highest in a week as an industry report showing a continued draw-down in US crude inventories tightened a supply outlook that’s being threatened by rising tension in the Middle East. Futures in New York rose as much as 2.7 percent on Wednesday, as Federal Reserve Chairman Jerome Powell signaled that policy makers may cut interest ...

DUBAI / WAM Dubai Business Events (DBE), the city’s official convention bureau, has recorded exceptional results during the first half of 2019, securing 118 successful bid wins for events to be hosted in Dubai over the coming years. These events won in H1 2019, including conferences, meetings, and incentives, are set to attract 75,288 delegates from around the globe to ...

ABU DHABI / WAM Etihad Airways has announced that it will resume flights between Abu Dhabi and Khartoum, Sudan, on Tuesday, July 16. Etihad Flight EY 632 will depart Abu Dhabi at 9.50am every Tuesday, Thursday and Sunday, arriving four hours later at 11.50am local time. The return service, flight EY 633 will depart at 12.50pm, arriving in Abu Dhabi ...

ABU DHABI / WAM The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has announced local and global applications to establish digital banks in its International Financial Cen-tre based in Abu Dhabi as digitalisation has led to a rap-id transformation of the banking industry. This initiative comes in response to regional and international enquiries seeking a ...

ABU DHABI / WAM The Emirates Red Crescent (ERC) launched its Eid Al Adha Campaign for 2019, under the theme, “Eid is on Us,” at its new headquarters in Abu Dhabi. The campaign aims to support needy families by allocating AED5.6 million that will benefit 223,419 people. In his statement to the Emirates News Agency (WAM) Rashid Mubarak Al Mansouri, ...

ABU DHABI / WAM The Dubai Gold and Commodities Exchange (DGCX) has achieved considerable success over the past three years, enabling it to attain a leading international stature in the global commodities sector. The value of gold and commodities traded by the DGCX, which is unique in the Middle East, rose to around AED4.85 trillion ($1.32 trillion), according to statistics ...

ABU DHABI / WAM Omar Sultan Al Olama, Minister of State for Artificial Intelligence and Deputy Managing Director of Dubai Future Foundation, stated that the great developments witnessed by the telecommunications and digital sector in the UAE is a key driver for innovation and contributes to advancements in government services. This came during a meeting held at the Dubai Future ...