DUBAI / WAM The UAE Cabinet retreat on post-oil phase concluded on Sunday. Federal and local government officials took part in the retreat and discussed ideas and initiatives that will contribute in diversifying the UAE’s economy and ensuring its sustainability. Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and His Highness ...

Dubai / Bloomberg First Gulf Bank (FGB) PJSC reported a better-than- expected six percent rise in full-year profit as the United Arab Emirates’ third-biggest bank was helped by non-operating income. Net income advanced to 6.01 billion dirhams ($1.64 billion) from 5.66 billion a year earlier, the Abu Dhabi-based lender said in an e-mailed statement on Sunday. The mean estimate of ...

Tel Aviv / Bloomberg Israel’s natural gas companies and Noble Energy Inc. have signed the first contract to supply natural gas from the Leviathan site offshore Israel. Partners in Leviathan, Israel’s largest field, will supply 6 billion cubic meters of gas over 18 years to two power stations owned by local electricity producer Edeltech Group. Leviathan will be developed by ...