Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) dispatched a delegation to Bangladesh to review and study the current status of its two funded projects – the Sikalbaha Power Station and the South Asia Sub regional Economic Cooperation (SASEC) Road Connectivity Project (SASEC). Having toured the Sikalbaha Power Station, the delegation confirmed that 90 percent of works have ...

  DUBAI / Emirates Business All eyes were on Gulf Craft at the Dubai International Boat Show, where the pioneering Emirates-based shipyard impressed guests with the largest fleet of yachts and boats on display, collectively worth well over AED 300million and accounting for more than 20% of the total value of leisure craft on exhibit at the show. The industry ...

  ABU DHABI / Emirates Business ADNOC Distribution announced the successful completion of its ‘Oasis of Surprises’ promotional campaign by hosting the second and final draw that gave away 175 prizes including the campaign’s grand prizes – two brand new BMW 318i cars, two LG 65-inch UHD TV sets and one Etihad Holidays luxury package to Seychelles for two people. Launched ...

  ABU DHABI / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, opened a new Sales & Service Centre in Abu Dhabi National Oil Company Company’s (ADNOC) Vehicles Inspection Center ‘Salama’ in the Al Shamkha area. The opening was held alongside the ‘Salama’ Center opening ceremony and attended by ...

  Dubai / Emirates Business In a move to bring enhanced visa application services to the residents of the UAE, the Embassy of South Africa launched a South Africa Visa Application Centre in Dubai. Services at the centre commenced on February 1. The centre was officially inaugurated by MK Lekgoro, Ambassador of the Republic of South Africa to the UAE, ...

  ABU DHABI / Emirates Business Etihad Airways has been honoured with the 2016 Treasury of the Year award by Treasury Management International (TMI) for a string of achievements over the past 12 months. The annual TMI Corporate Recognition Awards, held in London, reflect achievements in treasury and finance policy, practice and innovation. The Abu Dhabi-based airline’s treasury department was once ...

  Bloomberg A province governed by India’s Prime Minister Narendra Modi for 13 years is impeding his plans to promote clean energy. Modi’s effort to make liquefied natural gas more affordable, by halving its import tax in the government’s annual budget February 1, is being scuttled by the withdrawal of tax benefits by the western Indian state of Gujarat, through ...

  Bloomberg It’s a long-distance relationship that’s never really taken off. Executives from Gazprom PJSC in Moscow flew thousands of miles east this week to Singapore and Hong Kong for the first time since 2015 in a bid to drum up interest in the world’s largest natural gas producer. Even after last year’s commodities rally and a revival in Russian ...

  Bloomberg Oil closed near $54 a barrel in New York as estimates of record US stockpiles overshadow OPEC’s efforts to balance the market. Members of the Organization of Petroleum Exporting Countries are meeting more than 90 percent of the curbs they agreed to make, the group’s Secretary General Mohammad Barkindo, said in Abuja, Nigeria. The United Arab Emirates is ...

  Bloomberg STEP Energy Services Ltd., a fracking services provider, plans to raise about C$200 million ($152 million) in the biggest initial public offering in the Canadian oil and gas industry in more than two years. The shares are expected to be sold at C$14 to C$16 a piece, giving the Calgary-based oilfields service firm a valuation of about C$802 ...