Bloomberg Equity investors have given Singapore’s Sembcorp Industries Ltd. a big thumbs-up this year after it shed its loss-making marine unit. But 2021 may prove to be a lot less euphoric, according to analysts. The utilities firm is 2020’s top gainer on the benchmark Straits Times Index, after being the worst performer in the preceding five-year period. However, concerns over ...

ABU DHABI / WAM The UAE has welcomed the implementation of the Riyadh Agreement between the legitimate Yemeni government and the Southern Transitional Council. It further welcomed the formation of a government of political competencies in Yemen, and expressed its hope that this will be a step towards a political solution and an accelerated end to the Yemeni crisis. In ...

Abu Dhabi / WAM Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, was joined by Carlos Pascual, Senior Vice President for Global Energy at IHS Markit, during the Abu Dhabi Sustainability Week (ADSW) Web Series, which was held in partnership with the Atlantic Council. Joining the episode from Jakarta, Indonesia, Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar ...

DUBAI / WAM In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum issued Decree No. (36) of 2020 forming the Board of Trustees of the UAE Food Bank. According to the Decree, HH Sheikha Hind bint Maktoum bin Juma Al Maktoum will chair the Board and ...

Bloomberg Dubai’s Damac Properties PJSC surged to a two-year high on Sunday after saying its board will consider an acquisition within days. The Dubai-based property developer didn’t provide further information in a regulatory filing, but said its board will meet on December 23. Its shares climbed as much as 14.3%, the most in two months, to their highest levels since ...

DUBAI / WAM Executive committee members of the initiative for Dubai Membership in the UNESCO Creative Cities Network in the field of design held a virtual meeting with the Singapore Design Council. The Dubai side was led by the Chairman of Executive Committee and the Acting Director of the Executive Planning Department in Dubai Municipality, Asim Al Qasim, in the ...

Abu Dhabi / WAM Fitch Ratings (Fitch) has affirmed Adnoc Group a standalone credit rating of AA+. According to Fitch, the rating reflects Adnoc’s high upstream production and vast oil reserves, very low cost of production, integration into downstream operations, very conservative financial policies, high financial flexibility and low leverage, and its strong unit profitability. In line with its Government-Related ...

DUBAI / WAM Emirates has announced that it will be operating its flagship Airbus A380 aircraft on the Dubai — Sao Paulo route between January 9 and January 30, 2021. The Emirates A380 will be deployed four times weekly to Sao Paulo in response to the summer season increase in demand for travel to and from Brazil. This will be ...

DUBAI / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, issued AED420 million worth of trade credit support to the small and medium enterprises (SMEs) from January to November 2020, which translates to AED1 billion non-oil trade insured turnover, as it carries out its mandate of accelerating the UAE’s non-oil economy and ensuring business continuity. Mirroring its ...

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, visited a number of vital, academic and service projects in the city of Khorfakkan on Sunday morning. During the tour, the Ruler of Sharjah listened to an explanation from Ali bin Shaheen Al Suwaidi, Chairman of Sharjah Directorate of Public Works ...