Abu Dhabi / WAM Adnoc Distribution on Monday reported its first-quarter 2021 financial results, recording an underlying Ebitda of AED740 million with a net profit of AED631 million for the quarter, while cash flow generation remained strong with a free cash flow of AED835 million. In the first quarter of 2021, Adnoc Distribution delivered a strong financial performance, with Ebitda ...

SHARJAH / WAM Sheikh Fahim Al Qasimi, Chairman of the Department of Government Relations (DGR) in Sharjah, and Simon Penney, UK Trade Commissioner for the Middle East and Consul-General in Dubai and the Northern Emirates, have discussed ways to expand trade, investment, and cultural cooperation between Sharjah and Edinburgh, capital of Scotland in the UK. Al Qasimi emphasised that Edinburgh, ...

Abu Dhabi / WAM The General Civil Aviation Authority (GCAA) and the National Emergency, Crisis and Disaster Management Authority (NCEMA) announced that entry from Bangladesh, Pakistan, Nepal and Sri Lanka will be suspended for all incoming passengers on national and foreign carriers, as well as those carrying transit passengers, starting from 23:59 on Wednesday, May 12. The decision exempts transit ...

Bloomberg Norway is trying to make its dirtiest industry as clean as possible. The multi-billion-dollar plan will do little to reduce the nation’s overall climate impact. The Nordic country will use land-based green hydropower to electrify dozens of offshore oil and gas platforms. That will help meet national climate targets, and so allow the lucrative industry to keep pumping fossil ...

Bloomberg One of the world’s biggest wind turbine makers Vestas Wind Systems A/S will hike its prices as the costs of steel and transportation increase amid a global commodities boom that’s contributing to a rising risk of inflation. It’s an early sign that the surge in commodities prices and disruptions in supply chains could interrupt a trend of perpetually falling ...

Bloomberg US LNG developers seeking to burnish their green credentials and boost their competitiveness on a crowded global stage are touting a costly and largely untested technology: carbon capture. Both Cheniere Energy and Sempra Energy, two of the largest American exporters of liquefied natural gas, announced they were looking to add carbon capture and sequestration capabilities to their projects. Last ...

Covid-19 related deaths in India are expected to double in the coming weeks. People across socioeconomic classes are being cremated en masse in large holes in the ground. The ordeal doesn’t even end with death. Medical bills are piling up, a burden large enough to tip working-class families into multi-generational poverty. Younger adults desperate for vaccines are effectively being forced ...

Times are tough when you’re wrestling with Covid-19, recession — and a rapidly recovering America. The US offers superior rates of growth, a prospect once considered outlandish, and a bullish prognosis on vaccinations. Emerging economies in Southeast Asia are naked. They should also be afraid. The US economy is roaring back from 2020’s debacle. Unlike Donald Trump’s foundering response to ...

Peter Mandelson, spirit guide to former British Prime Minister Tony Blair, blamed the two “C”s for the Labour Party’s shattering defeat in a parliamentary by-election last week: “Covid and Corbyn.” The opposition party put up a poor showing in important local contests across the country, but the loss of Hartlepool to Boris Johnson’s Tories cut deep. On the doorsteps of ...

In the run-up to the US employment report, the forecasts of both economists and Wall Street analysts had migrated higher and pointed to an incredibly strong job creation number for April. What materialised, however, was a huge disappointment that constituted the biggest data miss on record. While firm conclusions about the reason will have to wait for more data over ...