ABU DHABI / WAM Institutional investors are optimistic about the UAE stock market, as evidenced by their net purchases of nearly AED 8 billion in local shares during the first nine months of 2023. This trend is driven by a number of factors, including the availability of broader investment opportunities, the strong growth trajectory of the national economy, and the ...

ABU DHABI / WAM Abu Dhabi Future Energy Company PJSC – Masdar, and PLN Nusantara Power (PLN NP), have signed an agreement to develop Phase II of the successful Cirata floating photovoltaic (FPV) power plant in Indonesia by up to 500MW, in a major expansion to Southeast Asia’s largest FPV plant. The signing ceremony was witnessed by UAE Minister of ...

BLOOMBERG Oil prices pushed closer to $100 a barrel, stoking expectations interest rates will stay higher for longer and keeping pressure on global markets. The US benchmark oil price briefly surpassed $95 a barrel for the first time in more than a year and Brent traded near $97 after a drop in stockpiles at a major storage hub underscored a ...

ABU DHABI / WAM The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week’s trading, according to the Arab Monetary Fund (AMF). The fund, in its weekly bulletin on Arab financial markets, which monitors the performance of 13 exchanges, said that the UAE markets achieved monthly market gains of over $6.2 billion, distributed at ...

ABU DHABI / WAM The Energy Industries Council (EIC), the leading energy trade association, announced its participation in the Abu Dhabi International Petroleum Exhibition Conference (Adipec) 2023, where it will host the UK Pavilion. This year’s Adipec, from  October 2-5 in Abu Dhabi, celebrates EIC’s 20th year at this premier energy event. Adipec has evolved into the world’s most influential ...

RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) has teamed up with Etihad Credit Insurance (ECI), the UAE’s federal export credit company, to host an informative seminar on “Innovative Export Credit Solutions”. The partners aimed to equip businesses in the Rakez community, particularly those involved in export, with the strategies to navigate, evolve and succeed in the ...

DUBAI / WAM Dubai-based master developer Nakheel will partner with respected yacht brokerage Edmiston at the Monaco Yacht Show for the first time. This partnership will introduce Nakheel’s waterfront developments to new audiences and showcase Nakheel’s position as a global pioneer of elevated living experiences. Nakheel will present its latest developments at the show; the ultra-luxury Como Residences on Palm ...

ABU DHABI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held talks with Zafrul Aziz, Minister of Investment, Trade and Industry for Malaysia, in Abu Dhabi to pursue deeper trade and investment ties. The meeting was part of a visit to the UAE by a delegation of Malaysia’s leading trade officials. During the discussions, ...

ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, on Thursday received Osama Naffa, Ambassador of Hungary to the UAE, on the occasion of the end of his tenure. His Highness Sheikh Mansour commended ambassador Naffa’s efforts in enhancing UAE-Hungary relations and cooperation, wishing him success ...

AL DHAFRA / WAM HH Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Board of Trustees of the Zayed Charitable and Humanitarian Foundation, has visited the second edition of Liwa Date Festival and Auction. The event, held under the patronage of HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, is organised by the Cultural ...