News

Bloomberg American business confidence in the world economy has surged, adding to an uptick in overall optimism as US tax cuts and looser regulation improve the outlook for domestic growth, according to a new study. Some 69 percent of leaders from mid-size companies across the US said they were optimistic about the global economy this year, more than double the ...

London / Reuters OPEC and non-OPEC oil producers, including Russia, will discuss extending their cooperation for many more years when they meet in June as they seek to avoid major market shocks, the UAE Minister of Energy and Industry, Suhail Mohammed Faraj Al Mazrouei said. Al Mazrouei, who holds OPEC’s presidency this year, said leaders of the UAE, OPEC’s biggest ...

Abu Dhabi / WAM Etisalat Group announced on Tuesday its consolidated financial statements for the 12 months ending December 31, 2017. Etisalat UAE revenues amounted to AED31.2 billion and increased year over year by 3%, while net profit after federal royalty reached to AED8.2 billion and increased year over year by 5%. It proposed dividend payout of 40 fils per ...

Abu Dhabi / WAM Ibrahim Al Mahmoud, First Deputy Chairman of the Board of Directors of the Abu Dhabi Chamber of Commerce and Industry, has discussed, during his meeting with Juan Luiz Manzur, Governor of Tucuman Province in Argentina, and his delegation the economic cooperation between Abu Dhabi and Tucuman Province. The meeting, which was held at the Chamber’s headquarters, ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of DEWA inaugurated workshops that aim to review and exchange best international practices and discuss investment-enhancing opportunities in electricity and water, building retrofits, energy efficiency, and sustainability. Al Tayer emphasised the importance of close co-operation between DEWA and Danish firms in energy and water sectors. He highlighted DEWA’s plans and ...

Abu Dhabi / WAM National Petroleum Construction Company (NPCC), part of Senaat Abu Dhabi, has expanded its operations in Hyderabad by creating a new office that employs over 450 people. The 40,000 Sq Ft Hyderabad Engineering Office will work with Abu Dhabi, Mumbai and La Ciota Engineering Offices in executing global projects in the energy sector. The company will run ...

Abu Dhabi / Emirates Business HE Abdullah bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs met HE Ayana Zewdie, Ethiopian, Minister of State for Trade, to discuss strategic ways on how to further enhance cooperation with Ethiopia, especially across potential investment opportunities in agriculture and food industries. The meeting was held at the Ministry’s ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has ordered to rename the Academic City Road in Dubai after Sheikh Zayed bin Hamdan Al Nahyan, in recognition of his contributions to the UAE. Running parallel to Mohamed bin Zayed Road and Emirates Road, the eight-lane highway extends ...

Sharjah / WAM Sharjah Oasis has announced the completion of Phase 1 construction activities at Sharjah Waterfront City at a value of AED3 billion. The announcement comes as the organisation hands over two power transmission and distribution plants, built with a cost of AED250 million and with its own resources to ensure uninterrupted supply of up to 700 megawatt (MW) ...

Abu Dhabi / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC), in cooperation with the National Health Insurance Company (Daman), launched the ‘Traveller’ programme, to provide emergency health insurance coverage for UAE nationals abroad, which is the first local and international programme of its kind. The programme is part of the ministry’s wish to realise the UAE leadership’s ...