News

ABU DHABI / AD MEDIA OFFICE H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, and H.H. Sheikh Saud bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Qaiwain, today offered their condolences on the passing of Sheikh Hazza bin Sultan bin Zayed Al Nahyan. H.H. Sheikh Ammar bin Humaid Al Nuaimi, ...

DUBAI / WAM Dubai International Financial Centre (DIFC) has proposed to enact amendments to the Prescribed Company Regulations. The proposed regulations seek to significantly expand and simplify the current Prescribed Company (“PC”) regime in the DIFC. Jacques Visser, Chief Legal Officer, DIFC Authority, said: “Since the introduction of the Prescribed Company Regulations in 2019, DIFC has committed to keeping the ...

SHARJAH / WAM Sharjah National Oil Corporation (SNOC) has completed a deal to acquire from Eni a 30% participating interest in Block 7 in Ras Al Khaimah, which extends over an area of 430 square kilometres and sees significant activity in oil and gas exploration with the ongoing drilling of an exploratory well called Fennec-01. Following the deal, Eni, as ...

WORLD CAPITALS / WAM Gold prices firmed on Friday, poised for their best week since early April, following US economic data that boosted bets of an interest rate cut from the Federal Reserve, Reuters said. Spot gold gained 0.3% to $2,353.43 per ounce by 0450 GMT, hitting their highest in more than two weeks. Prices have risen 2.3% so far ...

DUBAI / WAM Aramex today announced its financial results for the first quarter ending 31st March 2024, with net profit nearly doubling, reaching AED47 million, marking two consecutive quarters of strong performance. The net profit margin improved to 3%. In a statement on Friday, the company reported an 8% year-on-year (YoY) increase in group revenues, with strong contributions from all ...

HONG KONG / WAM Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company, unveiled a strategic transaction between Sanad and CFM Materials, the world’s largest provider of used serviceable components for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong. The sale of ...

ABU DHABI / WAM Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Perry Warjiyo, Governor of Bank Indonesia, signed a Memorandum of Understanding supporting the steady growth of trade relations between the two countries through the establishment of a framework that promotes the use of local currencies for bilateral transactions. The partnership between the UAE and ...

DUBAI / WAM Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has concluded its week-long trade mission to Southeast Asia by arranging 180 bilateral business meetings between companies from Dubai and Vietnam. The trade mission was organised as part of the “New Horizons” initiative spearheaded by Dubai International Chamber, which aims to drive ...

DUBAI / WAM CABSAT 2024, the premier conference for the broadcast, satellite, and content sectors, is slated to revolutionise media and entertainment with its innovative exhibitions and features for participants. The latest edition of CABSAT, taking place from 21st to 23rd May at Dubai World Trade Centre, will present innovative hall experiences for all attendees, while also highlighting cutting-edge technologies ...

VIETNAM / WAM Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said today that Dubai’s investments in Vietnam totalled approximately AED280 million between 2019 and 2023, fostering 4,500 job opportunities within the Vietnamese market. During the second leg of the trade mission organised by Dubai Chamber International to Indonesia and Vietnam, Lootah told the Emirates News Agency (WAM) ...