Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) has signed an agreement with the Nigerian government to finance a major road project in the country. The fund has allocated AED165 million ($45 million) to support the Minna-Bida Road project, ADFD’s first development project in Nigeria, which is expected to stimulate commercial activities and improve transport links between the ...

  Abu Dhabi / WAM A number of international experts on human rights reiterated that the United Arab Emirates (UAE) is a pioneer in human rights and has become a prominent partner in advancing the human rights worldwide. The experts noted that the UAE is also a partner in decision-making on global human rights, especially with its winning of membership ...

  Abu Dhabi / WAM Air Arabia Abu Dhabi announced the launch of its two new routes from Abu Dhabi to Baghdad and Erbil in Iraq. The new direct flights will connect Abu Dhabi International Airport to both Baghdad International Airport and Erbil International Airport with a frequency of two flights per week starting from June 22. Adel Al Ali, ...

  Dubai / WAM Emirates Central Cooling Systems Corporation PJSC (Empower) and Dubai Maritime City (DMC) have entered into an agreement to provide district cooling services to the DMC project. The cooling capacity of the project is more than 63,000 Refrigeration Tonnes (RT). The agreement was signed by Ahmad bin Shafar, CEO of Empower, and Sultan bin Sulayem, Group Chairman ...

  Abu Dhabi / Gulf Time Abu Dhabi hosts five marine championships this weekend in a special carnival for the marine sports enthusiasts. Organised by the Abu Dhabi Marine Sports Club, the championships will be held at the UAE capital’s breakwater starting from February 23-26. First round of Abu Dhabi Grand Kingfishing Championship will start on Thursday and will last ...

  Bloomberg Unloved during the pandemic with their business paralysed almost overnight, airlines that cut back to survive the crisis are now blowing through profit forecasts and luring back investors. Virgin Australia, so financially frail when Covid-19 hit in 2020 that it folded in weeks, has undergone a remarkable transformation under new owner Bain Capital and plans to relist in ...

Bloomberg Starbucks Corp, the world’s biggest coffee-shop operator, has launched a range of olive oil-infused beverages in Italy to boost market share in a country where it’s struggled to gain a foothold. The chain will initially sell its new Oleato coffee line, which includes a drink featuring olive oil steamed with oat milk, in Italy only. It then plans to ...

  Bloomberg Walmart Inc turned in another blowout quarter as more shoppers sought out its low prices, but the retailer offered a cautious outlook for the current fiscal year because of rising economic uncertainty. Consumers are getting squeezed as interest rates climb and savings rates fall, Walmart Chief Financial Officer John David Rainey said. That threatens spending even as the ...

  Bloomberg Danone’s revenue grew at the fastest rate in more than a decade, boosted by higher prices on products from Activia yogurt to Evian water. Sales rose 7.8% on a like-for-like basis in 2022, Danone said, beating analysts’ estimates. The stock rose as much as 2.8% in early trading. Chief Executive Antoine de Saint-Affrique is implementing a turnaround plan ...

  Bloomberg Bed Bath & Beyond Inc said it will pay past-due interest to bondholders on February 28 as the troubled retailer catches up on overdue payments after a last-minute equity deal earlier this month. The company said in a statement that it has prefunded the full amount of interest. The retailer had been in a grace period since it ...