News

DUBAI / Reuters The non-oil part of the United Arab Emirates economy is expected to grow as much as 3 percent this year, accelerating from 2.7 percent last year, the central bank said. “The recent improvement in oil prices has shed a positive sentiment on the economic activity in the non-oil sector and boosted economic confidence,” it said in a ...

ABU DHABI / WAM Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) successfully listed its shares on the Abu Dhabi Securities Exchange (ADX) on Wednesday following a bell ringing ceremony led by Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO and Hamad Al Shamsi, Chairman of the ADX. ADNOC Distribution is currently traded ...

LONDON / WAM UAE-based oil services company Petrofac announced on Wednesday the winning of a $160 million contract from the Basra Oil Company (BOC), formerly known as the South Oil Company, in southern Iraq. The contract, awarded to Petrofac’s Engineering and Production Services, EPS, division, is for BOC’s Iraq Crude Oil Export Expansion Project, ICOEEP. Petrofac has a five-year record ...

Riyadh / WAM The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud of Saudi Arabia, has discussed with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, strengthening brotherly and strategic relations between the two countries, and the overall regional and international issues ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has stated that the UAE was one of the first countries in the region to take an interest in e-commerce as it started preparing technical and legislative framework, as well as the infrastructure to facilitate and support ...

Abu Dhabi / WAM The Federal Authority for Nuclear Regulation (FANR), will hold a three-day workshop this week for 35 participants representing all UAE customs agencies and General Authority of Ports Border and Free Zones Security. The workshop aims to train customs officials on safe and secure handling of radioactive sources and nuclear non-proliferation. This latest seminar concludes FANR’s 2017 ...

Abu Dhabi / WAM The Abu Dhabi Convention Bureau, part of the Department of Culture and Tourism – Abu Dhabi (DCT), officially launched its latest initiative ‘Al Nukhba’, which aims to boost the number of international conferences held in the UAE capital. The initiative was officially inaugurated in a special ceremony on Nurai Island, Abu Dhabi, on Tuesday, by Mohamed ...

Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (ADNEC) lately participated in several highly-targeted international events to promote Abu Dhabi’s state-of-the-art meetings, incentives, conferences and exhibitions (MICE) infrastructure and attract international associations and organisers to host their events in the UAE capital. Khalifa Al Qubaisi, Acting Chief Commercial Officer of ADNEC, said: “Our participation in these landmark events ...

DUBAI / Emirates Business Next Orbit Ventures (NOVF) ESDM, the newly launched Abu Dhabi-based fund established under the Abu Dhabi Global Markets (ADGM) jurisdiction, announced the launch of $2 billion fund for building semiconductors and electronics fab ecosystem in India. For the first time, an India-based fund going to be raised from GCC-based investors will be regulated by an external ...

Dubai / Emirates Business Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry, announced that it has launched The Caterer, a new age company offering nutritious and balanced meals to businesses, communities and individuals. This catering service, located in Dubai Investment Park, is the 30th commercial project to be launched under Tejar Dubai to date, while it ...