ABU DHABI/WAM ADNOC Drilling Company and Alpha Dhabi Holding announced today that their joint venture Enersol (JV) has agreed to acquire a 100% equity stake in EV Holdings Ltd. (EV) for approximately $45 million from UK-based private equity firm, Dunedin. Completion of the transaction is subject to obtaining the necessary regulatory approvals and closing adjustments, after which the EV stake ...

ABU DHABI/WAM ADNOC Drilling Company on Monday announced record financial results for the second quarter and first half of 2024. The company’s net profit for the quarter also grew, up 29% year-on-year and 7% sequentially to $295 million, driven by the increase in EBITDA, while for the first half the figure stood at $570 million, up 28% year-on-year. The revenue ...

DUBAI/WAM Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the Gulf Cooperation Council (GCC) market remained the top global export and re-export destination for its member companies during the first half of 2024. The GCC region accounted for 53.9% of total exports and re-exports with a combined value of ...

DHAKA/WAM Bangladesh Prime Minister Sheikh Hasina resigned on Monday and fled the country, Reuters quoted multiple sources as saying. Army chief General Waker-Us-Zaman said in a televised address that Hasina 76, had left the country and that an interim government would be formed. Student activists had called for a march to the capital Dhaka on Monday in defiance of a ...

KHAN YOUNIS/WAM The Operation Chivalrous Knight 3 follows the progress of repairing damaged water networks to re-operate main water wells, reservoirs, and destroyed pipelines. The imitative enables Khan Younis Municipality to provide humanitarian services to residents and displaced families in the city, alleviating their struggles to access water, and preventing health disasters. A specialised company is working on repairing the ...

ABU DHABI/WAM H.H. Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF), has directed the establishment of a series of exhibitions for productive families. These exhibitions, organised by the GWU in collaboration with its strategic partners from federal, local, private, ...

LONDON/WAM H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, accompanied by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, visited DP World’s Port and Logistics Park at London Gateway, in the Thames Estuary. Sultan Ahmed bin Sulayem, Chairman and CEO ...

ABU DHABI/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan received a phone call on Monday from His Excellency Dr William Samoei Ruto, President of the Republic of Kenya. During the call, they discussed strengthening bilateral relations and exploring promising opportunities to enhance cooperation in various fields, particularly in investment and development, in a manner that serves the ...

GULF TIME Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a cooperation agreement with the International Development Bank (IDB), the largest banking network in Iraq, to support the ‘Xport Xponential’ initiative. By signing the agreement, the bank will join the list of partners of the ‘Xport Xponential’ initiative, launched by ECI in May with the goal of ...

SHARJAH/WAM According to the semi-annual report of the real estate sector in the cities of Sharjah issued by Sharjah Real Estate Registration Department, it was revealed that the trading value of real estate transactions has reached AED 646 million during the first half of 2024 in the Central and Eastern regions of Sharjah, with a growth rate of 17.7 percent ...