ABU DHABI / WAM Borouge Plc, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, is supporting Rwanda’s energy sector with the innovative ‘Made in UAE’ solutions that the company has supplied to 56-megawatt power plant on Lake Kivu, Rwanda. Borouge’s solutions were used to produce pre-compounded polyethylene pipes for the power plant that will help meet about …

VIENNA / WAM The Organisation of the Petroleum Exporting Countries (Opec) has confirmed that the UAE’s economy grew by 3.8 percent in the first quarter of 2023. In its September 2023 report, OPEC said it expects the UAE’s economic expansion to continue, noting that key sectors of the country’s economy have seen significant growth. The OPEC report highlighted that the …

ABU DHABI / WAM Standard & Poor’s (S&P) Global Ratings expects that the banks of the United Arab Emirates (UAE) will achieve strong performance in 2023. In a recent report, the credit rating agency said that UAE banks will benefit from strong non-oil GDP growth, which will mitigate the impact of rising interest rates on credit growth. The report expects …