News

ABU DHABI / WAM Adnoc Gas plc on Monday announced that, following approval from the SCA, its selling shareholder, Abu Dhabi National Oil Company (Adnoc or the selling shareholder) has exercised its right set out in the UAE prospectus to increase the number of ordinary shares offered in the initial public offering (IPO) of the company. Adnoc will now offer ...

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 directives to immediately allocate 8,500 land plots to Emirati citizens in the Al Yalayis 5 area. The plots are located on an area spanning 120 million square feet. His Highness Sheikh Mohammed’s ...

BLOOMBERG Hong Kong’s exports plunged in January by the most in 70 years as waning global demand and the Lunar New Year break weighed on trade and Chinese demand remained weak, even after the mainland emerged from Covid Zero. Overseas shipments plummeted 36.7% from a year earlier to HK$290.9 billion ($37.1 billion), the Census and Statistics Department said. That was ...

BLOOMBERG Essar Group plans to spend as much as $3.6 billion on low-carbon hydrogen production in the UK and India, as well as decarbonisation work at its refinery in northwest England, pending government support. The company’s first step would be a $1.2 billion investment in Britain to produce hydrogen from natural gas with carbon capture and storage, according to Prashant ...

BLOOMBERG Toyota Motor Corp reported a slight drop in global sales in January due to lingering effects of the Covid-19 pandemic and a chronic shortage of semiconductors for automobiles, the Japanese automaker said. Sales, including Daihatsu Motor Co and Hino Motors Ltd, fell 3.6% from a year earlier to 795,847 vehicles, while production rose 8.4% to 819,727 units, the world’s ...

DUBAI/ WAM e& has announced a strategic partnership with Mastercard that will see consumers and businesses in 16 markets across the Middle East, Asia and Africa benefit from a variety of new technologies and user-friendly experiences. The experiences include providing consumers with innovative alternatives to how they choose to pay for a variety of lifestyle activities. Consumers will also benefit ...

ABU DHABI / WAM Abu Dhabi Health Services Company (Seha), part of the PureHealth group, has announced its key achievements in 2022 from the latest report curated by the Emirates News Agency (WAM). Some of Seha’s most notable achievements in 2022 include the closure of its Covid-19 testing centres and 5.1 million outpatient visits throughout the year. Collectively, a total ...

ABU DHABI / WAM The UAE search and rescue team, as part of the “Chivalrous Knight / 2” operation in Syria, has returned home following the completion of the rescue mission in earthquake-hit Syria. Lt. Colonel Hamad Al Kaabi, Commander of the Emirati Search and Rescue in Syria, said that the team has made exceptional efforts in the rescue mission ...

DUBAI / WAM The UAE witnessed a 32 percent year-on-year (YoY) growth in its 2022 green and sustainable finance issuing, a new report by leading consulting firm Arthur D. Little showed. Between 2019 and 2022, the UAE recorded increasing environmental, social, and corporate governance (ESG) reporting across major public and private institutions such as Dubai Financial Market, Ministry of Climate ...

SHARJAH / WAM  Sharjah Economic Development Department (Sedd) released the results of Sharjah’s commercial and economic activities report during 2022, where 64,089 licences were issued and renewed in the past year, with a growth rate of six percent over 2021. This report included 7,615 new licences issued and 56,474 renewed. The department reviewed the results and the main developments and ...