News

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) dispatched a delegation to Bangladesh to review and study the current status of its two funded projects – the Sikalbaha Power Station and the South Asia Sub regional Economic Cooperation (SASEC) Road Connectivity Project (SASEC). Having toured the Sikalbaha Power Station, the delegation confirmed that 90 percent of works have ...

  DUBAI / Emirates Business All eyes were on Gulf Craft at the Dubai International Boat Show, where the pioneering Emirates-based shipyard impressed guests with the largest fleet of yachts and boats on display, collectively worth well over AED 300million and accounting for more than 20% of the total value of leisure craft on exhibit at the show. The industry ...

  ABU DHABI / Emirates Business ADNOC Distribution announced the successful completion of its ‘Oasis of Surprises’ promotional campaign by hosting the second and final draw that gave away 175 prizes including the campaign’s grand prizes – two brand new BMW 318i cars, two LG 65-inch UHD TV sets and one Etihad Holidays luxury package to Seychelles for two people. Launched ...

  ABU DHABI / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, opened a new Sales & Service Centre in Abu Dhabi National Oil Company Company’s (ADNOC) Vehicles Inspection Center ‘Salama’ in the Al Shamkha area. The opening was held alongside the ‘Salama’ Center opening ceremony and attended by ...

  Dubai / Emirates Business In a move to bring enhanced visa application services to the residents of the UAE, the Embassy of South Africa launched a South Africa Visa Application Centre in Dubai. Services at the centre commenced on February 1. The centre was officially inaugurated by MK Lekgoro, Ambassador of the Republic of South Africa to the UAE, ...

  ABU DHABI / Emirates Business Etihad Airways has been honoured with the 2016 Treasury of the Year award by Treasury Management International (TMI) for a string of achievements over the past 12 months. The annual TMI Corporate Recognition Awards, held in London, reflect achievements in treasury and finance policy, practice and innovation. The Abu Dhabi-based airline’s treasury department was once ...

  Bloomberg STEP Energy Services Ltd., a fracking services provider, plans to raise about C$200 million ($152 million) in the biggest initial public offering in the Canadian oil and gas industry in more than two years. The shares are expected to be sold at C$14 to C$16 a piece, giving the Calgary-based oilfields service firm a valuation of about C$802 ...

  Bloomberg Royal Dutch Shell Plc is unlikely to take on new oil-sands projects as it maintains a grip on costs after crude’s crash forced competitors to write down Canadian reserves. While Shell’s existing oil-sands operations generate strong cash flows, the expense of developing new projects discourages additional investments, Chief Executive Officer Ben Van Beurden said in an interview. Oil ...

  Bloomberg Asia’s infrastructure race is just getting started. Emerging economies across the region will need to invest as much as $26 trillion on building everything from transport networks to clean water through 2030 to maintain growth, eradicate poverty and offset climate change. That’s according to an Asian Development Bank report released on Tuesday that highlights the need for massive ...

  Bloomberg Faced with a shortage of workers, Japanese companies are taking matters into their own hands, helping the government fix a chronic lack of day care that is blunting efforts to get more women into the workforce. Nichiigakkan Co., which provides hospital administration and care services, is among more than 500 companies approved for new subsidies to start their ...