News

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has successfully issued a 5.25-year $600 million bond at US Treasury +105 Basis Points (bps) which resulted in an all-in yield of 4.514 percent, on January 19. This marks FAB’s second USD issuance in a space ...

  Abu Dhabi / WAM AD Ports group has signed a memorandum of understanding with Tosyalı, one of Türkiye’s largest private steel producers, which has operations in three continents. The MoU looks to establish the framework for AD Ports group to collaborate with Tosyalı on a broad range of shipping, logistics, ports, and freight forwarding services, including potentially jointly investing ...

  Dubai / WAM Moody’s upgraded DP World’s ratings, signaling confidence in the company’s business and future prospects. The upgrade follows two major investments in 2022 at DP World’s flagship UAE assets: Jebel Ali Port, Jebel Ali Free Zone, and National Industries Park. The investments, which totaled $7.4 billion, were made by Canadian investment fund CDPQ in May and Saudi ...

RAHIM YAR KHAN / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Wednesday arrived in the city of Rahim Yar Khan during his visit to the Islamic Republic of Pakistan. Upon his arrival at the airport, His Highness was received by Pakistani Prime Minister Shehbaz Sharif, and a number of ministers and senior officials. During the meeting, ...

Abu Dhabi / WAM Khalifa Fund for Enterprise Development has signed a memorandum of understanding (MoU) with the Ministry of Small and Medium Enterprise Development, Zambia. As per the MoU, Khalifa Fund will provide $15 million (equivalent to AED55 million) to the African nation to support their SME sector. The MoU was signed in the presence of Sheikh Shakhboot bin ...

  Abu Dhabi / WAM A total of 4.1 million hotel visitors stayed in Abu Dhabi hotels during 2022, 24 percent up from 2021, data by the Department of Culture and Tourism – Abu Dhabi, revealed. Hotel revenues climbed by 23 percent from the previous year to AED5.4 billion in 2022. The statistics showed that Abu Dhabi hotels recorded occupancy ...

  Abu Dhabi / WAM A delegation from the Emirates News Agency (WAM) headed by Mohammed Jalal Al Rayssi, Director-General of WAM, has visited a number of media entities in Costa Rica to promote cooperation in news exchange. The visit aligns with the UAE’s hosting of the United Nations Climate Change Conference of the Parties (COP28) in Expo City Dubai ...

Dubai / WAM The General Pension and Social Security Authority (GPSSA) announced the pension disbursement dates for this year. The authority emphasised the fact that pensions will be disbursed on the 27th day of each month, with exceptions to May and June, whose pensions will be disbursed on August 26, where pensions will be disbursed on the 25th of that ...

  Dubai / WAM Emirates Health Services (EHS) is taking part in the Arab Health Exhibition & Conference 2023, held from January 30 to February 2 at the Dubai World Trade Centre, where it plans to showcase 19 innovative projects at its booth under the theme “Building the Future of Health Services”. The projects will be grouped into three main ...

  Bloomberg UK factories’ fuel and raw material costs are rising at their slowest pace in almost a year, further evidence that pipeline inflationary pressures are easing. Input prices rose 16.5% in December from a year ago, down from a peak of 24.6% in June, Office for National Statistics figures published Wednesday show. That was the slowest pace since February ...