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Galp Energia SGPS SA, Portugal’s biggest oil company, said it wants partners for its renewable energy business in different countries where it operates. “We’re growing all our traditional businesses, including upstream, but the renewables business is going to grow so much faster than you would want eventually to have partnerships in different countries, or different projects, without necessarily having to ...
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November, 2022
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4 November
China solar giant sees yet more uncertainty for US imports
The world’s largest solar company warned that stricter US import requirements for panel shipments will continue to create disruptions to the American market through next year. Longi Green Energy Technology Co. projects between 20 to 50 gigawatts of US solar market demand in 2023, the Chinese company said in an earnings briefing, according to a note by Daiwa Capital Markets. ...
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4 November
UAE-China trade up 28% to $64b in 8 months of ’22
Abu Dhabi / WAM UAE-China bilateral trade has exceeded $64 billion during the first eight months of 2022, which marked a 27.93 percent increase compared to the same period last year, a top Chinese diplomat told the Emirates News Agency (WAM) “China has become the UAE’s largest non-oil trading partner in the world, and the UAE remained China’s second-largest trading ...
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4 November
Adnoc Refining signs deal to sell waste management operations
Abu Dhabi / WAMÂ Â Â Â Adnoc Refining, a joint venture company between the Abu Dhabi National Oil Company (Adnoc), Eni, and OMV, announced on Thursday that it has entered into a strategic agreement with ADQ, an Abu Dhabi-based investment and holding company, Veolia Middle East (Veolia), and Vision International Investment Company (Vision Invest) to acquire its waste management operations in Al ...
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4 November
Fertiglobe announces 84% boost in Q3 profit
Abu Dhabi / GULF TIME Fertiglobe, the strategic partnership between Adnoc and OCI, the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertiliser producer in the Middle East and North Africa (Mena) region, and an early mover in clean ammonia, on Thursday reported that its Q3 2022 revenues increased 52% year-on-year to $1.32 billion, while adjusted ...
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4 November
AD Ports acquires 80% stake in Dubai’s GFS for AED2.9 billion
Abu Dhabi / WAM AD Ports Group on Thursday announced that it had signed an agreement to acquire an 80% equity stake in Dubai-based Global Feeder Shipping (GFS), a global container shipping company. The total purchase consideration for the 80% stake amounts to AED2.9 billion ($800 million), implying a 100% Enterprise Value of AED3.7 billion ($1.0 billion), with the acquisition ...
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4 November
UAE President, Rulers raise UAE flag nationwide
Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the Supreme Council Members, Their Highnesses Rulers of the Emirates, along with their grandsons, on Thursday raised the UAE flag nationwide on the occasion of the ‘’UAE Flag Day” marked annually on November 3. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime ...
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4 November
Adipec consolidates UAE’s leading position in global energy sector
Abu Dhabi / WAM Abdulla Mohamed Al Mazrui, Chairman of Abu Dhabi Chamber of Commerce and Industry (ADCCI), highlighted the importance of the current edition of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec). Al Mazrui said, “This year’s edition of Adipec consolidates the UAE’s leading position in the global energy sector and the country’s significant role in confronting ...
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4 November
VFS Global: ESG reshaping brand communications
Abu Dhabi / Gulf Time Investors’ and consumers’ attention has recently been focused on companies’ ESG components, making sustainable investing go beyond being just a buzzword. A 2020 survey carried out by HSBC revealed that 41% of regional investors in the Middle East wish to adopt an effective ESG investment policy. A report by PWC, released in May 2022, added ...
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4 November
UAE Flag Day, symbol of our unity, strength, future: Ajman Ruler
Ajman / WAM On UAE Flag Day, His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, stressed that the country’s flag is the symbol of its unity, strength and future. On the occasion, he said, “On this day, we extend our appreciation, gratitude and best wishes to the UAE’s leadership, headed by President His ...
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