News

Bloomberg Network International shares surged in London trading after the payments processor raised 1.1 billion pounds ($1.4 billion) in an initial public offering that’s the biggest listing in Europe so far this year. Network International jumped 22 percent to 532.20 pence in London. The Dubai-based company sold 200 million shares for 435 pence each, according to a statement on Wednesday. ...

SHARJAH / WAM Dana Gas has announced that its average production for Q1, 2019 has increased by 6 percent year-on-year to 68,700 barrels of oil equivalent per day (boepd) from 65,000 boepd in Q1 2018. The first quarter production increase was led by the KRI (Kurdistan Region of Iraq), which leapt to 32,750 boepd in Q1, 2019 from 26,300 boepd ...

ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, affirmed that there is a “high probability” of achieving balance in the oil market by the end of 2019. “The Joint Ministerial Monitoring Committee (JMMC) in Jeddah next month will look into the prevailing market conditions and decide to continue the output cut deal ...

ABU DHABI / WAM The CEO of NATIXIS, a global Asset Management Company with $1,008 billion in assets under its management, described the UAE as an “attractive” investment haven. “The UAE for us is an attractive place, no doubt. It is classified as an emerging market. You have stability and you have a long term view of economic development,” Jean ...

Abu Dhabi / WAM Aldar Properties PJSC (Aldar) announced the launch of its latest waterfront development, Lea – located on the northern shores of Yas Island. Offering land plots starting at AED 990,000 and sizes ranging from 405 square metres – 1,800 sqm, and available for purchase by all nationalities, sales will commence at Cityscape Abu Dhabi, running from April ...

Dubai / WAM Emirates Global Aluminium (EGA), on Wednesday announced the start-up of Al Taweelah alumina refinery, a strategic growth project that expands the industrial giant’s business upstream in the aluminium value chain. Alumina is the feedstock for aluminium smelters and is refined from bauxite ore. Once full ramp-up is achieved, Al Taweelah alumina refinery is expected to produce some ...

DUBAI / WAM The design of the Chinese Pavilion for Expo 2020 Dubai was unveiled on Wednesday in Dubai, in the presence of Ambassador Ni Jian of the People’s Republic of China in the UAE, Najeeb Mohammed Al-Ali, Executive Director, Dubai Expo 2020 Bureau and Zhang Yi, Deputy Secretary-General of China Chamber of International Commerce. Among other attendees were more ...

ABU DHABI / WAM National Geographic on Wednesday announced a four-year partnership with the Mohammed bin Rashid Space Centre (MBRSC), to document the UAE’s journey into space. In a four-part documentary series, National Geographic (NatGeo) will present to the world the UAE’s rise into space, its achievements and ambitions. The series is set to capture the essence of why and ...

PANAMA CITY / WAM Trade flows between GCC countries and Latin America and the Caribbean (LAC), reached $16.3 billion in 2018, while the UAE remained a top trading partner in the Gulf region for LAC countries, according to a new report conducted by the Inter-American Development Bank (IDB), in cooperation with the Dubai Chamber of Commerce and Industry. The report, entitled ...

SHABWA / WAM The UAE, represented by the Emirates Red Crescent (ERC), provided 40 tonnes of basic food aid to underprivileged people in Al Hajar District, Shabwa Governorate, as part of the second phase of its food aid campaign, under the framework of the UAE’s humanitarian and relief efforts in Yemen. The ERC team distributed 500 food parcels to 2,950 ...