ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Sunday signed agreements with Total of France, awarding them stakes in two of Abu Dhabi’s new offshore concessions. Under the agreements, which were signed at the Abu Dhabi Louvre, Total has been awarded a 20 percent interest in the Umm Shaif and Nasr concession and a 5 percent ...

DUBAI / WAM Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announced the acquisition of a 90% stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), an integrated multimodal logistics player in India. CWCNSL’s founders, the Reddy family, will retain the remaining 10% shareholding and will remain involved in ...

FUJAIRAH / WAM The National Bank of Fujairah (NBF) on Sunday approved a distribution of profits of 15 percent of paid-up capital. This took the form of cash dividends of 7.5 percent, AED102.5 million, and bonus shares of 7.5 percent, AED102.5 million, of paid-up capital. The bank’s shareholders also approved the Chairman’s and Directors’ Reports, and the Sharia Supervisory Board ...