July, 2022

• 29 July

  UAE leaders condole death of Saudi prince

    ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a message of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia, expressing his sincere condolences and sympathy over the death of Prince Abdulrahman bin Nasser bin Abdulaziz Al Saud. His Highness Sheikh Mohammed bin Rashid ...

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• 29 July

  Etihad’s profit soars to record high in H1 2022

  

  Abu Dhabi / WAM Etihad Airways on Thursday announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of $296 million (H1 2021: $392 million loss). This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year. Etihad carried 4.02 million passengers in H1 ...

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• 29 July

  Adnoc Distribution takes 50% stake in ‘TotalEnergies Egypt’

  

    Abu Dhabi / WAM Adnoc Distribution, the UAE’s largest fuel and retail distributor, on Thursday announced that it has entered into an agreement with “TotalEnergies Marketing Afrique SAS” to acquire a 50 percent stake in TotalEnergies Marketing Egypt LLC (TotalEnergies Egypt) for about $186 million, with an additional earn-out of up to $17.3 million. The partnership with TotalEnergies, a ...

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• 29 July

  DP World inks deal to bolster F&B cluster

  

    Dubai / WAM DP World UAE announced signing two new development projects with multinational agricultural commodity processors, strengthening the F&B cluster and capabilities within Jebel Ali in Dubai. The move is in line with the UAE’s National Food Security Strategy 2051, which aims to achieve zero hunger worldwide by facilitating global food trade, diversifying food import sources, and identifying ...

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• 29 July

  Borouge posts 16.4% revenue growth in H1

    Abu Dhabi / WAM Borouge Plc, a petrochemical company that provides innovative and differentiated polyolefin solutions, announced strong financial results for the first six months of 2022, with a 16.4% increase in revenue to $3,460 million for H1 2022, versus the same period last year, driven by sales volume growth of 8.6% and average price per tonne growth of ...

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• 29 July

  Etihad sees record-breaking profit of $296mn in H1 2022

  

    Abu Dhabi / WAM Etihad Airways on Thursday announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of $296 million (H1 2021: $392 million loss). This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year. Etihad carried 4.02 million passengers in ...

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• 29 July

  Non-essential staff at private sector to work remotely for two days

  

    DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has called on private sector establishments in areas affected by rains and floods in the UAE, especially in the Emirates of Sharjah, Ras Al Khaimah and Fujairah, to allow their non-essential employees to work remotely on Thursday and Friday. The transportation for essential employees between their workplace and ...

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• 29 July

  Deyaar’s net profit up 196% to AED66.9mn in H1 2022

  

    Dubai / WAM Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced its unaudited financial results for the first half of 2022. The company achieved a remarkable increase of 196% in net profit to reach AED66.9 million for the six months ended June 30, compared to AED22.6 million for the same period in 2021. ...

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• 29 July

  UAE central bank increases base rate at 75 basis points

    ABU DHABI / WAM The central bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 75 basis points, effective from July 28. This decision was taken following the US Federal Reserve Board’s announcement on July 27, to increase the Interest on reserve balances (IORB) by 75 basis points. ...

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• 29 July

  RPM announces AED20.6 million net profit

    Abu Dhabi / WAM Response Plus Holding (RPM), a subsidiary of ADX-listed Alpha Dhabi, has reported a strong performance in the half-year results ending June 30, announcing a net profit of AED20.6 million in the first half of 2022, compared to AED12.5 million during the same period in 2021. Response Plus Holding has achieved AED162.6 million in revenue in ...

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