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DP World acquires feeder, regional trade operators

DUBAI / WAM Unifeeder on Wednesday announced the acquisition of Transworld Feeders FZCO, Avana Logistek Limited, including its subsidiary Avana Global FZCO, and Transworld Feeders Pvt. Ltd., the containerised Indian coastal and Exim feeder shipping operations of Shreyas Shipping and Logistics Limited, excluding vessels and bulk operations. The transaction, made via Unifeeder, through its Unifeeder ISC (Indian Subcontinent) platform, a ...

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Assets of 18 listed national banks reach AED3tn in H1

Abu Dhabi / WAM Total assets of the 18 listed national banks rose to around AED3 trillion in H1 2020, up 8.2 percent, compared to the comparable period of 2019, reflecting the strong financial profile boasted by the Emirati banks, according to data released on their websites. The sector’s activity is highlighted by the profitability of the banks, as deposits ...

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US cancels China trade talks, raising questions over deal

Bloomberg President Donald Trump said he called off last weekend’s trade talks with China, raising questions about the future of a deal that is now the most stable point in an increasingly tense relationship. “I cancelled talks with China,” Trump said in Yuma, Arizona. “I don’t want to talk to China right now.” The phase-one trade deal, which came into ...

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Barakah nuclear energy plant connects to UAE’s power grid

Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (Enec), on Wednesday announced that its operations and maintenance subsidiary, Nawah Energy Company, in partnership with the Abu Dhabi Transmission and Despatch Company (Transco) – a subsidiary of Abu Dhabi National Energy Company – has safely and successfully connected Unit 1 of the Barakah Nuclear Energy Plant to the UAE grid, ...

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Free parking in Abu Dhabi for Hijri New Year holiday

Abu Dhabi / WAM The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport in Abu Dhabi has announced that surface public parking bays will be free of charge starting from Sunday, August 23, until 7:59 am on Monday, August 24. ITC has urged motorists not to park their vehicles in prohibited areas and not to block vehicles ...

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UAE, India to boost cooperation

Dubai / WAM Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, has held a virtual meeting with Nirmala Sitharaman, Minister of Finance of India, to discuss means of bolstering cooperation with India in various fields. Al Tayer congratulated Sitharaman, the government, and the friendly people of India on the occasion of India’s Independence Day, which was celebrated ...

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FYA launches ‘Youth Councils Manual’

Dubai / WAM The Youth Council at EY Mena launched an initiative to develop the Federal Youth Authority’s (FYA) ‘Youth Councils Manual’, which provides an overview of the opportunities and benefits Youth Councils offer their members. The manual additionally outlines the extensive network of Youth Councils in the UAE, which are supervised by the Federal Youth Authority, in addition to ...

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ERC launches new health initiative to treat victims of Beirut blast

Abu Dhabi / WAM The Emirates Red Crescent (ERC) is implementing a new initiative aimed at treating and rehabilitating the victims of the Beirut explosion, coinciding with World Humanitarian Day. The initiative, which is being implemented upon the directives of HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, ...

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Equinor unit signs deal to sell power

Bloomberg A giant wind farm being developed off the coast of the UK will sell some of its power to energy trader Danske Commodities A/S. Under the 15-year deal, the subsidiary of Equinor ASA will trade and balance power from 480 megawatts of the Dogger Bank wind farm, about 13% of its capacity. It’s a key step as the developers ...

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Iraq to sign MOU with Chevron to explore oil

Bloomberg Iraq plans to sign a memorandum of understanding with Chevron Corp to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter. The deal formalises Chevron’s interest in exploring the eastern and western parts of Nasiriyah, the capital of Dhi Qar, the person said. It would exclude areas of the ...

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