March, 2022

• 1 March

  Bitcoin advances in tentative comeback as haven asset

    Bloomberg Bitcoin advanced amid mounting signs that the war in Ukraine is bolstering demand for cryptocurrencies. The largest cryptocurrency rose 4.3% to $43,453 in London, gaining along with other major digital tokens. A fresh wave of turbulence hit global markets on Tuesday as the conflict in Ukraine intensified amid mounting penalties against Russia, as stocks in Europe fell along ...

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• 1 March

  UAE cabinet OKs AED12b budget for Sheikh Zayed Housing Programme

  DUBAI / WAM Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet meeting adopted a number of initiatives and legislations aimed at further developing government work. The meeting was held at Expo 2020 Dubai, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid ...

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February, 2022

• 28 February

  EGA’s 2021 net profit soars record 1,140% to AED 5.5b

  

    DUBAI / WAM Emirates Global Aluminium (EGA) on Monday reported a net profit of AED5.5 billion ($1.5 billion), an increase of 1,140 percent compared to AED445 million ($121 million) in 2020. EGA reported record adjusted Earnings Before Interest, Tax, Depreciation and Amortisation (adjusted EBITDA) more than doubled to AED9.0 billion ($2.5 billion) for 2021, from AED4.1 billion ($1.1 billion) ...

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• 28 February

  UAE sends humanitarian aid plane to Gambia

    ABU DHABI / WAM The UAE has sent an aid plane containing 48 metric tons of food supplies to Gambia, to strengthen the government’s continued support in alleviating the humanitarian situation and improving living conditions across many of the regions. Sultan Ali Al-Harbi, Non-Resident Ambassador of the UAE to Gambia, underscored the UAE’s keenness to provide humanitarian assistance to ...

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• 28 February

  Sharjah Islamic Bank increases foreign ownership limit to 40%

  

    SHARJAH / WAM Shareholders of Sharjah Islamic Bank (SIB) have approved increasing the percentage of foreign ownership of the bank’s shares to 40%, at the Annual General Meeting headed by Abdul Rahman Al Owais, Chairman of the Board of Directors. They also approved the distribution of 8% of cash profits to shareholders after SIB achieved net profits of AED514.1 ...

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• 28 February

  Silal, AeroFarms partner to improve sustainable, resilient agri practices

  

  ABU DHABI / WAM Silal, Abu Dhabi’s leading fresh produce and agri-tech company, and AeroFarms, a Certified B Corporation and leader in indoor vertical farming, have signed a Memorandum of Understanding (MoU) to forge a long-term research and development collaboration involving knowledge and technology transfer of advanced farming systems to local farmers. Under the MoU, both parties will assess opportunities ...

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• 28 February

  Arab Aviation Summit begins in RAK 

    RAS AL KHAIMAH / WAM The 9th edition of Arab Aviation Summit (AAS), the region’s leading aviation and tourism industry event, started on Monday at Al Hamra International Exhibition and Conference Centre in Ras Al Khaimah. Under the theme “Roadmap to recovery”, hundreds of international and local industry experts and media epresentatives will discuss various aviation and tourism topics. ...

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• 28 February

  Shurooq to invest in Australia, US, GCC and Arab countries

  

    SHARJAH / WAM Marwan bin Jassim Al Sarkal, Executive Chairman of the Sharjah Investment and Development Authority (Shurooq), announced that it is currently considering investing in several Arab and Gulf Cooperation Council (GCC) countries, including Egypt, Saudi Arabia, Oman and Qatar. Shurooq has received a proposal to establish similar entities to Sharjah Sustainable City in Australia and the US, ...

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• 28 February

  Dewa achieves short-term goals of AED7b smart grid strategy

    DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), announced that Dewa had completed the short-term goals of its Smart Grid Strategy 2014-2035. Between 2015 and 2020, Dewa replaced all electricity and water metres with smart metres, deploying over two million smart metres. By automating metre readings, Dewa empowers its customers ...

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• 28 February

  Etihad Water and Electricity installs 220,000 smart metres

    UMM AL QAIWAIN / WAM Etihad Water and Electricity has announced it has completed installing over 220,000 smart electricity metres and 240,000 smart water meters, accounting for 65 percent of its planned number. Mohammed Mohammed Saleh, Director-General of Etihad Water and Electricity, said the company aims to standardise the model of smart meter used in all its facilities and ...

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