Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa), announced on Tuesday the successful financial closing for the largest gas-fired power plant in the UAE. The AED4.2 billion Fujairah F3 Independent Power Producer (IPP) project will have a power generation capacity of 2.4 GW – equivalent to the powering of 380,000 UAE households. The power plant is expected to ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) published its Financial Stability Report (FSR) which provides information, analysis and an assessment of the resilience and matters that require additional support in the banking and financial system in the UAE promoting public understanding and transparency. The report covers macro-financial conditions, regulatory developments, assessments of the banking and finance ...

Bloomberg Oil dropped to trade near $40 a barrel before US government data that’s forecast to show gasoline stockpiles increased, while rising virus infections raised concern stricter controls will be extended. US gasoline supplies expanded by one million barrels last week, according to a Bloomberg survey, while nationwide crude stockpiles are projected to have fallen for a second week. Official ...