News

ABU DHABI/ WAM The UAE Ministry of Finance (MoF) today published the preliminary results of the UAE Government Finance Statistics Report for the fourth quarter of 2023, unveiling that the government’s revenues amounted to AED155.9 billion. According to the MoF data, the value of total expenditures amounted to AED131.3 billion consisting of net investment in non-financial assets and current expenses, ...

SHARJAH / WAM Keen to provide a decent life for his people in the Emirate of Sharjah and the city of Kalba, HH Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, directed the start of completing sewage network projects in Al Saf and Al Ghail neighborhoods in the Al Fareesh suburb, in ...

WORLD CAPITALS / WAM Gold prices edged lower on Thursday as the US dollar gained, though bullion remained near record-high levels, Reuters reported. Spot gold fell 0.2% to $2,171.05 per ounce as of 0426 GMT, and the US gold futures also dipped 0.2% to $2,175.40. Spot platinum fell 0.3% to $935.50 per ounce, palladium shed 0.3% to $1,056.24, and silver ...

ABU DHABI / WAM The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade and investment flows between the two nations in priority sectors of mutual interest. The agreement was signed in the Hungarian capital, Budapest, by Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Péter Szijjártó, Minister of ...

AL AIN / WAM The Abu Dhabi Judicial Department (ADJD), in collaboration with the Citizens and Community Affairs Office of the Presidential Court, held an awareness-raising lecture on “The Right Parental Relationship” at Majlis Saif bin Maya Al Afari in the Al Amerah area of Al Ain. The lecture is part of the “Majalisna” initiative launched by the Judicial Department ...

DUBAI / WAM Parkin Company on Thursday announced that it has set the final offer price for its initial public offering (IPO) at AED2.10 per share. This will result in approximately AED1,574.37 million (c. $428.69 million) of gross proceeds for Dubai Investment Fund (Selling Shareholder). The Company and Selling Shareholder confirm the previously announced Offering size of 749,700,000 shares, equivalent ...

DUBAI / WAM DP World Limited has announced the financial results for the year ended on December 31, 2023. On a reported basis, the company’s revenue grew by 6.6 percent to US$18.25 billion and adjusted EBITDA rose by 1.9 percent to $5.108 billion with a healthy adjusted EBITDA margin of 28.0 percent. The revenue growth was supported by Drydocks World ...

ABU DHABI / AD MEDIA OFFICE Abu Dhabi Global Market (ADGM) has declared 2023 as a year of success for the international financial centre of the UAE’s capital, highlighting its performance as the fastest-growing financial centre in the region for two consecutive years, as well as Abu Dhabi’s rise as a globally recognised financial hub. ADGM had a strong start ...

SEOUL / WAM South Korea and the United States have decided to step up development cooperation in Indo-Pacific and Africa, Yonhap news agency reported. Soutk Korea’s Second Vice Foreign Minister Kang In-sun held talks with the head of the U.S. Agency for International Development (USAID) to discuss ways to strengthen their partnership, according to Korean foreign ministry. During the meeting ...

ABU DHABI / WAM This innovative service enables TRENDS Research and Advisory (TRENDS), in partnership with the China Media Group Regional Office, is organising a joint symposium entitled “China’s Economy in the Prosperity Phase”. The event will be held on March 19 at TRENDS Conference Hall in Abu Dhabi. The symposium will bring ambassadors, experts and researchers from the UAE ...