May, 2022

• 18 May

  IHC completes AED7.3 billion deal with India’s Adani group

  

    Abu Dhabi / WAM International Holding Company (IHC) announced on Tuesday the completion of an AED7.3 billion ($2 billion) investment transaction in the Adani Portfolio companies, Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL). IHC has provided capital to Adani Green Energy, Adani Transmission, and Adani Enterprises, which are all listed on the ...

  Read More »
• 18 May

  Investing in education could add $2.54trn to global economy: WEF

  

  Geneva / WAM A worldwide improvement in students’ capacity for problem-solving to the average level of today’s top 10 scoring countries could add an additional $2.54 trillion to the global economy, World Economic Forum (WEF) said in its latest report. The compound effects of the pandemic, pre-existing inequalities, and the rapid technological change of the Fourth Industrial Revolution (4IR), mean ...

  Read More »
• 18 May

  dnata invests $17m to boost Erbil operations

    Erbil / WAM dnata, a leading global air and travel services provider, has announced a significant expansion of its operations in Erbil, Iraq. The company opened a new, advanced cool chain facility and a bus maintenance facility for its state-of-the-art bussing fleets at Erbil International Airport (EBL), which together represent a total investment of $3.5 million. dnata has also ...

  Read More »
• 18 May

  Yalla group sees AED265.7m revenues in Q1

    DUBAI / WAM Yalla Group Limited, the UAE-based leading voice-centric social networking and entertainment platform in the Middle East and North Africa (Mena), on Tuesday announced its financial results for the first quarter of the fiscal year 2022, recording AED 265.7 million in revenues. According to Yalla Group’s latest financial results, the GAAP and non-GAAP net margins during the ...

  Read More »
• 18 May

  Sheikh Mohamed a beacon of hope: Maldives president

  

  Abu Dhabi / WAM The President of the Maldives has congratulated His Highness Sheikh Mohamed bin Zayed Al Nahyan as the new President of the UAE, saying HH Sheikh Mohamed is a beacon of hope. In an exclusive interview with the Emirates News Agency (WAM), Ibrahim Mohamed Solih, President of the Maldives, said,”His Highness Sheikh Mohamed’s strong statesmanship and his ...

  Read More »
• 18 May

  Julphar’s net sales rise 156% to hit AED418.6m in Q1 2022

  

    Ras Al Khaimah / WAM Gulf Pharmaceutical Industries (Julphar) reported on Tuesday its financial results for the first quarter ending March 31, announcing AED418.6 million in net sales in Q1 2022, a 156% increase from Q1 2021. Growth was driven by an increase in sales attributed to the strategic acquisition of Planet Pharmacies and a 37% organic growth from ...

  Read More »
• 18 May

  UAE announces new requirements for Hajj

  

    Abu Dhabi / WAM The National Emergency Crisis and Disasters Management Authority (NCEMA) and the General Authority of Islamic Affairs and Endowments (GAIAE) announced the requirements for the Hajj in the 1443 AH season. The two authorities also expressed their appreciation for Saudi Arabia’s leadership, government and people. The conditions come as a response to the Hajj restrictions announced ...

  Read More »
• 18 May

  Arada builds foundation for long-term growth with award of credit ratings

  

    Sharjah / WAM Moody’s Investor Services and Fitch Ratings have assigned Arada first-time credit ratings, which provide a strong foundation for the UAE developer to cement its long-term growth. The successful award of the ratings, just five years since the company’s inception in early 2017, make Arada one of the youngest corporates in the UAE to apply for and ...

  Read More »
• 18 May

  FNC, Russian delegation discuss cooperation

    ABU DHABI / WAM The Parliamentary Friendship Committee with European Parliaments of the Federal National Council (FNC), led by Sarah Mohammed Falkinaz, met with Arsen Kanokov, Head of the Russian Federation Council’s Friendship Committee with the FNC, and his delegation. The meeting was attended by Dherar Belhoul Al Falasi, Dr. Ali Al Nuaimi, Dr. Hawaa Al Dhahak Al Mansouri, ...

  Read More »
• 18 May

  dnata boosts Erbil operations with $17m investment

  

    Erbil / WAM dnata, a leading global air and travel services provider, has announced a significant expansion of its operations in Erbil, Iraq. The company opened a new, advanced cool chain facility and a bus maintenance facility for its state-of-the-art bussing fleets at Erbil International Airport (EBL), which together represent a total investment of $3.5 million. dnata has also ...

  Read More »