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ABU DHABI / WAM First Abu Dhabi Bank (FAB) has announced a solid net profit of AED4.2 billion and revenue of AED8.0 billion for the first quarter of 2024, underlining the bank’s consistent growth trajectory. The bank’s stellar performance is evidenced by revenue that grew 18% year-on-year (YoY) to AED8.0 billion, propelled by core operational growth, balance sheet expansion, higher ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reviewed participation figures in the 8th Arab Reading Challenge 2024, which saw record participation with over 28 million students. Participation in this year’s edition has seen a 13.7% increased compared to last year’s figures, when 24.8 million students ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan today received the Presidential Camel Racing Team, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court. During the reception, which took place at Qasr Al Bahr in Abu Dhabi, His Highness Sheikh Mohamed, accompanied ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan today received a delegation from Canada’s McGill University. During the meeting at Qasr Al Bahr in Abu Dhabi, His Highness welcomed the delegation, which included several university officials. His Highness stressed the UAE’s keenness to build partnerships with premier educational institutions and universities worldwide to prepare high-quality national ...

ABU DHABI/ WAM The Central Bank of the UAE (CBUAE) revealed in a report issued today an increase in cash deposits to AED725.8 billion in February 2024, with an annual increase of 11 percent or the equivalent of AED71.2 billion, compared to AED654.6 billion in February 2023. The Central Bank’s cash aggregates statistics explained that cash deposits increased on a ...

DUBAI / GULF TIME Yalla Group Limited, the largest Middle East and North Africa (MENA)-based online social networking and gaming company, has entered into a collaboration with the Dubai Festivals and Retail Establishment (DFRE) for the third Dubai Esports and Games Festival (DEF). The partnership marks a significant milestone for Yalla as it merges with one of its flagship products, ...

RIYADH/ WAM The Kingdom of Saudi Arabia and the Islamic Republic of Mauritania have signed a Memorandum of Understanding to cooperate in the electricity, renewable energy, and clean hydrogen sectors to achieve both countries’ interests. According to the Saudi Press Agency (SPA), the MoU was signed by the Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and the ...

ABU DHABI / WAM Sultan Mohammed Al Shamsi, Assistant Minister of Foreign Affairs for Development Affairs and International Organisations, received a copy of credentials of Bérangère Boëll-Yousfi, United Nations Resident Coordinator for the UAE. Al Shamsi wished the newly appointed UN Resident Coordinator success in her duties and affirmed the UAE’s keenness to enhance its partnership with the United Nations ...

ABU DHABI / WAM The AED8.89 billion ($2.42 billion) refinancing of the UAE’s Barakah Nuclear Energy Plant has been selected as the ESG Loan Deal of the Year by the prestigious Bonds, Loans & Sukuk Middle East Awards. Barakah One Company, the financing and commercial subsidiary of the Emirates Nuclear Energy Corporation (ENEC), achieved groundbreaking refinancing with the participation of ...

ABU DHABI / WAM Minister of Industry and Advanced Technology and COP28 President Dr Sultan Al Jaber addressed the ‘First Meeting of the Board of the Fund for responding to loss and damage’ and urged Parties to “build on progress” and deliver “lasting, positive, socio-economic impact” to help the most vulnerable to climate change. During his address, Dr Al Jaber ...