News

DUBAI / WAM DP World on Tuesday announced the signing of the acquisition of 100 percent of the Unifeeder Group for euros 660 million (AED2.8 billion) from Nordic Capital Fund VIII and certain minority shareholders. Based in Aarhus, Denmark, Unifeeder operates the largest and most densely connected common user container feeder and an important and growing shortsea network in Europe, ...

ABU DHABI / WAM The energy sector is constantly evolving, transforming and experiencing a rapid pace of change across all sectors, said the Abu Dhabi Department of Energy Under-Secretary. “It’s the new normal,’ said Mohammed Juma Al Falasi, adding that the development of energy resources will drive the country’s economy for decades to come. Commenting on the upcoming Singapore International ...

CAIRO / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Abdel Fattah el-Sisi, President of Egypt, have discussed the relations between the UAE and Egypt and means of strengthening them, as well as regional and international issues of mutual interest. The discussion, which took ...

ABU DHABI / WAM Dr. Al Hassan Al Taher, Governor of Hodeidah, has warned of an Iranian plan to create a maritime crisis in the Strait of Hormuz and Bab Al Mandeb, in order to avoid an internal crisis and halt the re-imposition of sanctions. In his statement to the Emirates News Agency (WAM), Al Taher stressed that the end ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA), in collaboration with 11 other financial regulators and associated organisations from around the world, on Tuesday, issued a discussion paper announcing the establishment of a Global Financial Innovation Network (GFIN) and consulting on its proposed functions. The GFIN is a network of leading global regulators, which will seek to conduct joint ...

Abu Dhabi / Emirates Business Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, is inviting the FinTech and RegTech companies and community in Abu Dhabi and the Mena region to participate and comment on a joint consultation proposing the role and details of a Global Financial Innovation Network (GFIN) initiated by the UK Financial Conduct Authority ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry recently participated in the 4th Global Agribusiness Forum in Sao Paulo where it highlighted strengthening agricultural trade links between Dubai and Latin America, as well as key areas where bilateral trade can be increased in the future. The forum was attended by more than 1,500 key stakeholders ranging from businesspeople, ...

DUBAI / Emirates Business In recent years, since the oil price slump, plans have emerged across the Gulf to curb fiscal deficits and diversify economies, most notably through the development of national infrastructure, highlights a new report by Oliver Wyman. Titled “How Public-Private Partnerships can support the Gulf’s Economic development,” the report highlights the significance of the private sector’s contribution ...

ABU DHABI / WAM Aldar announced its financial results for the first half of 2018, delivering a resilient underlying performance across the business. According to a press statement, gross profit in the second quarter of 2018 increased by 20 percent to AED649 million compared to AED542 million in 2017. Commenting on the results, Talal Al Dhiyebi, Chief Executive Officer of ...

ABU DHABI / Emirates Business The Khalifa Fund for Enterprise Development (KFED) successfully organised a workshop aimed at increasing more awareness on the significant role being played by today’s online marketplace and the benefits and advantages to be gained from it. The event, which was held in collaboration with the Expo 2020 Dubai Team at the Khalifa Innovation Centre in ...