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Dubai / Reuters Abu Dhabi National Oil Co (ADNOC) plans to launch a share sale of a stake in its network of fuel service stations and retail convenience stores in December, sources told Reuters on Sunday. The listing for ADNOC Distribution comes as Abu Dhabi and other Gulf states seek to privatise energy assets. Sources told Reuters in September that ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, reiterated that the UAE stands firmly and resolutely with Saudi Arabia in confronting all challenges targeting its security and stability. He condemned in the strongest terms the firing of a ballistic missile towards the ...

Dubai / Emirates Business Commercial Bank International (CBI) announced its financial results for the nine months ended September 30. The net profit increased 4% year on year to AED33 million in Q3 this year, while year to date net profit totalled AED 86 million. The net interest income increased by 13% to AED 145 million from AED 128 million in ...

Reuters Air Arabia, the United Arab Emirates’ only publicly-listed airline, reported 26.6 percent increase in third quarter profit on Sunday. The low cost airline said in an emailed statement that it made a net profit of as much as AED376 million ($102.4 million) in the three months to September 30, compared with AED297 million that was recorded in the same ...

ABU DHABI / WAM Abu Dhabi Ports and Cosco Shipping Ports Limited (CSP) held their ground-breaking ceremony for the CSP Abu Dhabi Container Terminal during a high-level event at Khalifa Port, in the presence of His Highness Sheikh Diab bin Zayed Al Nahyan, Chairman of the Department of Transport and member of the Abu Dhabi Executive Council. A new agreement ...

Dubai / Emirates Business SHUAA Capital reported its financial results for the quarter ended September 30. The group recorded profits for the third consecutive quarter as its turnaround under the new Board and executive management team continued. The third quarter saw net profits reach the AED23 million mark, an increase of 165% than last year (Q3 2016: net loss of ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday, received Alexander Lukashenko, President of the Republic of Belarus, who is currently on an official visit to the country. After welcoming President Lukashenko, the two sides discussed relations of cooperation and friendship ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday received Joe Kaeser, President and Chief Executive Officer of Siemens. During the meeting, Sheikh Mohamed welcomed Kaeser and his accompanying delegation, and the two sides discussed topics related to investment, trade and ...

Vienna / WAM Dr Harib Al Amimi, President of the State Audit Institution, SAI, has presided over the 70th Governing Board Meeting of the International Organisation of Supreme Audit Institutions (INTOSAI), in Austria. This is the second time the UAE is chairing this meeting which runs until November 7. Dr Al Amimi said that meeting would cover a number of ...

Abu Dhabi / WAM The annual Abu Dhabi Strategic Debate, to be held from November 11-13, is among the most important events taking place in the UAE, as it seeks to clarify the strategic goals of several foreign policy issues. The debate is being organised by the Emirates Policy Centre (EPC), in cooperation with the Ministry of Foreign Affairs and ...