June, 2022

• 14 June

  Dubai Chamber members’ exports, re-exports hit AED23.1bn in May

  

    Dubai / WAM The value of exports and re-exports of Dubai Chamber members grew 28.3% year-on-year (YoY) to reach AED23.1 billion in May 2022, marking the highest level since August 2018. Members’ exports and re-exports amounted to AED104.3 billion between January and May, achieving 15.8 percent YoY growth when compared to the same period last year. Over 291,000 certificates ...

  Read More »
• 14 June

  Production at Abu Dhabi’s RO facility reaches 50%

  

    ABU DHABI / WAM Ewec, the Emirates Water and Electricity Company, has announced that production of desalinated water using low carbon-intensive reverse osmosis (RO) technology from the Taweelah RO facility has reached 50 percent capacity. Taweelah RO, connected to the Abu Dhabi network in December 2021, is now providing 100 million gallons per day of desalinated water, and will ...

  Read More »
• 14 June

  DFM unveils new equity futures on individual stocks

  

  Dubai / WAM As part of its strategy to diversify investment opportunities, the Dubai Financial Market (DFM) on Monday launched new equity futures contracts on individual stocks of two of its leading listed companies namely; Dubai Electricity and Water Authority (Dewa) and GFH Financial group. The new launch brings the number of companies that the DFM provides futures’ contracts on ...

  Read More »
• 14 June

  FAB completes legal merger of bank Audi Egypt’s assets

  

    Abu Dhabi / WAM First Abu Dhabi Bank (FAB) has announced the completion of the legal merger of Bank Audi Egypt, where all the bank’s assets in Egypt will accordingly operate under FAB’s newly introduced brand identity “FABMISR”. The legal merger and launch of FAB’s new brand in Egypt come after obtaining all required regulatory approvals, including the final ...

  Read More »
• 14 June

  Production capacity at Abu Dhabi’s RO plant reaches 50%

  

    ABU DHABI / WAM Ewec, the Emirates Water and Electricity Company, has announced that production of desalinated water using low carbon-intensive reverse osmosis (RO) technology from the Taweelah RO facility has reached 50 percent capacity. Taweelah RO, connected to the Abu Dhabi network in December 2021, is now providing 100 million gallons per day of desalinated water, and will ...

  Read More »
• 14 June

  Nema Education acquires Liwa College of Technology

    Abu Dhabi / WAM Nema Education, the academic arm of Nema Holding (formerly Abu Dhabi University Holding), has acquired 100% interest in Liwa College of Technology (formerly Emirates College of Technology). Liwa College of Technology joins several higher education institutions and professional training companies, including Abu Dhabi University (ADU), Knowledge Group (KG) and Khawarizmi International College (KIC), within Nema ...

  Read More »
• 14 June

  Enoc bans single-use plastics across its operations

    Dubai / WAM Enoc Group, announced on Monday that it has banned single-use plastics across its operations as well as in its head office, to align with the UAE’s vision of promoting an inclusive green economy. In March 2020, the Group announced that it will begin a phase-out of single-use plastics and today it has achieved a 100 percent ...

  Read More »
• 14 June

  Remarkable progress in Dewa’s 30 MIG reservoir in Hatta

  

    Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), has visited the water reservoir project Dewa is building in Hatta to review its progress. According to the project schedule, there is significant progress in the project’s work at 36.259% compared to the 32.6% target. The project has a capacity of 30 ...

  Read More »
• 14 June

  Now, ECB ain’t a bank that does inflation-targeting

  

  Central banks have scarcely covered themselves in glory these past few years. Most have one goal and one goal only: to keep inflation low. In most countries, they have spectacularly failed at this job. In much of the developed world, inflation has reached many multi-year highs. I can’t think of a central bank whose record has been as lamentable as ...

  Read More »
• 14 June

  Is this the future of Japan tourism?

  

  Tourists are coming back to Japan — but while in the past they were driving Mario Karts down the main streets of Tokyo, now they’re being asked to sit in groups distanced from locals at restaurants, and keep masks on while eating. For those eager to get back into Japan, the country’s first step towards reopening to tourists in the ...

  Read More »