News

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Wiliame Katonivere of Fiji on the occasion of his country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister  of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin ...

DUBAI / WAM Emirates Global Aluminium and PT Indonesia Asahan Aluminium (Inalum) on Tuesday announced the completion of the start-up of five pilot reduction cells at Inalum’s Kuala Tanjung aluminium smelter upgraded with EGA’s technological know-how. The pilot reduction cells are the first step in a larger planned project to upgrade a further 298 pots in Potlines 1 and 3 ...

SHARJAH / WAM Sheikha Bodour Al Qasimi, Chairperson of the Board of Directors of the Sharjah Research, Technology and Innovation Park (SRTIP) chaired the first meeting of SRTIP’s  Board of Directors. The board, appointed by HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah in Emiri Decree No (48) of 2023, comprises renowned corporate ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) welcomed the secondary listing of a $750 million Green Bond by Abu Dhabi Future Energy Company (Masdar), the global clean energy powerhouse based in Abu Dhabi. The ten-year bond, which was 5.6 times oversubscribed, carries a 4.875 percent coupon rate and will mature in July 2033. It aims to fund new ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Irakli Garibashvili, Prime Minister of Georgia, on Tuesday witnessed the signing of a Comprehensive Economic Partnership Agreement (Cepa) between the UAE and Georgia. The CEPA aims to double non-oil trade from $481 million to $1.5 billion ...

ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, said that the International Council on Archives (ICA) Congress Abu Dhabi 2023 is a platform that provides an opportunity for specialists, experts, and officials in the archive sector to engage in fruitful discourse on various subjects. “We ...

DUBAI/WAM Emirates Development Bank (EDB) has announced that since the launch of its new strategy in April 2021, the bank has approved over AED 721 million financial support for food security projects. EDB has allocated AED30 billion to support 13,500 SMEs in five priority sectors: manufacturing, renewables, technology, healthcare, and food security. The announcement was made today as EDB concluded ...

ABU DHABI/ WAM ADNOC Drilling announced an interim dividend payment of $358 million, or 8.22 fils per share, for the first half of 2023. This represents another 5 percent year-on-year increase, in-line with the company’s progressive dividend policy. The interim dividend distribution will be on or around October 27, 2023, to all shareholders of record as of October 19, 2023. ...

MARRAKESH/ WAM The International Monetary Fund (IMF) has forecast that the UAE’s real GDP will grow by 3.4 percent in 2023 and 4 percent in 2024. The IMF’s forecast is in line with that of the World Bank, which released a similar estimate two days ago. The IMF said that the UAE’s current account balance is expected to be about ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolence to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud of Saudi Arabia, expressing his sincere sympathy over the death of Prince Mohammed bin Saad (II) Al Abdulrahman Al Saud. His Highness Sheikh Mohammed bin Rashid Al Maktoum, ...