News

  Abu Dhabi / WAM Adnoc Distribution on Thursday reported strong earnings for full-year 2022, with year-on-year growth in Ebitda by 15 percent to AED3.52 billion, and net profit by 22 percent to AED2.75 billion for 2022. The company’s total fuel volumes continued to increase during the year, recording an 8 percent year-on-year growth through 2022 – with commercial fuel ...

  Abu Dhabi / WAM Abu Dhabi Airports, the operator of the emirate’s five airports, on Thursday released its passenger traffic results for 2022. From January 1 to December 31, 2022, 15.9 million guests used Abu Dhabi International, Al Ain International, Al Bateen Executive, Delma Island and Sir Bani Yas Island Airports – tripling the 5.26 million achieved in 2021. ...

  Abu Dhabi / WAM The United Arab Emirates has announced that it will allocate AED1.83 million in cooperation with “Nadia Murad’s Initiative”, to implement the second phase of a comprehensive development project to provide water supply and sanitation in the Sinjar district of Iraq. Sultan Al Shamsi, Assistant Minister of Foreign Affairs and International Cooperation for International Development Affairs, ...

  Dubai / Gulf Time After much planning and preparation, Mahy Khoory launched its brand new Grundfos-certified sub-factory in Dubai, paving the way for greater product flexibility and reduced lead times for customers in the United Arab Emirates. The facility will produce the Grundfos SP submersible pump. Mahy Khoory is a long-established Grundfos distributor in the United Arab Emirates (UAE), ...

  Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of Etihad Airways, will offer increased capacity to the European market via two new gateways with the introduction of two new routes from its Abu Dhabi hub to Copenhagen in Denmark and Düsseldorf in Germany. The carrier will also introduce additional services to Frankfurt. The carrier currently operates ...

  Dubai / Gulf Time Bridge Medical Group Purchasing (BMGP), an innovative and novel Group Purchasing Organisation (GPO) specialised in the healthcare sector, has signed a memorandum of understanding (MoU) with New Al Farwaniya, a leading medical supplier and distributor in the UAE. In line with the agreement, New Al Farwaniya will serve as one of BMGP’s major specialty medical ...

Bloomberg A.P. Moller-Maersk A/S, a bellwether for global trade, said “muted” economic growth is set to push the world’s container shipping volumes down by as much as 2.5% this year. The shipping market has normalized after two years of exceptionally high freight rates, when supply snarls and and a shortage of vessels allowed Maersk and its peers to charge higher ...

Bloomberg Tesla Inc. will present a third version of Elon Musk’s “master plan” next month, almost a full year after the chief executive officer said he was working on a next edition. The electric-car maker will outline “the path to a fully sustainable energy future for Earth” during its March 1 investor day, Musk tweeted. Tesla has already said its ...

  Bloomberg The UK was the only European country in the Group of Seven nations where real incomes adjusted for inflation fell in the third quarter of last year, according to the OECD. Rampant inflation was to blame for continuing slide in household spending power, the Paris-based organization said, piling pressure on Prime Minister Rishi Sunak’s government and the Bank ...

  Bloomberg Average occupancy levels at many Dublin offices have fallen to 10% or lower on Mondays and Fridays as the majority of employees opt to work from home, according to a survey. Wednesday is the most popular day among workers to be in the office with employers reporting average occupancy rates of 61% to 70%, a survey of 500 ...