News

ABU DHABI/ WAM Al Yah Satellite Communications Company (Yahsat), the UAE’s flagship satellite solutions provider, and e& UAE signed a Memorandum of Understanding (MoU). According to the MoU, e& UAE will become the first telecom operator to partner with Yahsat under its Direct-to-Device (D2D) strategy. The collaboration includes exploring various initiatives and projects concerning Yahsat’s planned D2D ecosystem to enable ...

ABU DHABI / WAM Adnoc Drilling Company confirmed shareholder approval of all agenda items at its Annual General Assembly Meeting, including the distribution of its highly attractive final cash dividend for the year ending on December 31, 2023, with $358 million. Commenting on the announcement, Abdulrahman Abdulla Al Seiari, CEO of Adnoc Drilling, said, “In 2023 we made excellent progress ...

DUBAI / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Decree No. (16) of 2024 forming the new Board of Trustees of the UAE Food Bank, chaired by Her Highness Sheikha Hind bint Maktoum bin Juma Al Maktoum, Supreme Chairperson of the ...

ABU DHABI/ WAM Lunate Capital Limited, an Abu Dhabi-based investment management firm licenced by the ADGM Financial Services Regulatory Authority (FSRA), and subsidiary of Lunate Holding RSC Limited, announced today the launch of the Chimera JP Morgan UAE Bond UCITS ETF, the UAE and GCC’s first-ever UAE bond Exchange Traded Fund (ETF) that will list on the Abu Dhabi Securities ...

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 ...