Abu Dhabi / WAM Etihad Airways on Thursday announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of $296 million (H1 2021: $392 million loss). This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year. Etihad carried 4.02 million passengers in H1 ...

  Abu Dhabi / WAM Adnoc Distribution, the UAE’s largest fuel and retail distributor, on Thursday announced that it has entered into an agreement with “TotalEnergies Marketing Afrique SAS” to acquire a 50 percent stake in TotalEnergies Marketing Egypt LLC (TotalEnergies Egypt) for about $186 million, with an additional earn-out of up to $17.3 million. The partnership with TotalEnergies, a ...

  Dubai / WAM DP World UAE announced signing two new development projects with multinational agricultural commodity processors, strengthening the F&B cluster and capabilities within Jebel Ali in Dubai. The move is in line with the UAE’s National Food Security Strategy 2051, which aims to achieve zero hunger worldwide by facilitating global food trade, diversifying food import sources, and identifying ...

  Abu Dhabi / WAM Borouge Plc, a petrochemical company that provides innovative and differentiated polyolefin solutions, announced strong financial results for the first six months of 2022, with a 16.4% increase in revenue to $3,460 million for H1 2022, versus the same period last year, driven by sales volume growth of 8.6% and average price per tonne growth of ...

  Abu Dhabi / WAM Etihad Airways on Thursday announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of $296 million (H1 2021: $392 million loss). This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year. Etihad carried 4.02 million passengers in ...

  DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has called on private sector establishments in areas affected by rains and floods in the UAE, especially in the Emirates of Sharjah, Ras Al Khaimah and Fujairah, to allow their non-essential employees to work remotely on Thursday and Friday. The transportation for essential employees between their workplace and ...

  Dubai / WAM Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced its unaudited financial results for the first half of 2022. The company achieved a remarkable increase of 196% in net profit to reach AED66.9 million for the six months ended June 30, compared to AED22.6 million for the same period in 2021. ...

  ABU DHABI / WAM The central bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 75 basis points, effective from July 28. This decision was taken following the US Federal Reserve Board’s announcement on July 27, to increase the Interest on reserve balances (IORB) by 75 basis points. ...

  Abu Dhabi / WAM Response Plus Holding (RPM), a subsidiary of ADX-listed Alpha Dhabi, has reported a strong performance in the half-year results ending June 30, announcing a net profit of AED20.6 million in the first half of 2022, compared to AED12.5 million during the same period in 2021. Response Plus Holding has achieved AED162.6 million in revenue in ...

  Abu Dhabi / WAM The Healthcare Programme, an initiative by the Emirati Talent Competitiveness Council (Nafis), has begun registering UAE nationals with, at least, high school degrees. The initiative aims to attract 2,000 nationals to the healthcare sector in 2022, while continuing the process until reaching the target of attracting 10,000 nationals to the sector by 2026. The programme ...