May, 2024

• 23 May

  ADNOC to acquire 10% equity stake in major LNG development in Mozambique

  

  ABU DHABI/ WAM ADNOC announced today the acquisition of Galp’s 10% interest in the Area 4 concession of the Rovuma basin in Mozambique, marking a major milestone in the company’s international growth strategy. The acquisition will entitle ADNOC to a share of the liquefied natural gas (LNG) production from the concession, which has a combined production capacity exceeding 25 million ...

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• 23 May

  UAE takes part in inaugural meetings of Doha Dialogue

  

  DOHA/WAM The UAE took part in the inaugural meetings of the Doha Dialogue, which focused on the temporary migration of workers from African nations to the Gulf Cooperation Council (GCC) countries, Jordan, and Lebanon. Held in Doha, Qatar, the meetings were attended by Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, as well as the ministers of labour ...

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• 23 May

  ADNOC to offer around 880 million shares of ADNOC Drilling through bookbuild offering

  

  ABU DHABI/WAM Abu Dhabi National Oil Company PJSC (ADNOC), the current majority shareholder of 84 percent of the ordinary shares in ADNOC Drilling PJSC (ADNOC Drilling) (ADX Symbol: ADNOCDRILL / ISIN: AEA007301012), announced today its intention to offer approximately 880 million ordinary shares (the Shares), corresponding to approximately 5.5 percent of the issued and outstanding share capital of ADNOC Drilling ...

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• 23 May

  UAE President receives President of World Bank Group

  

  ABU DHABI/WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan today met with Ajay Banga, President of the World Bank Group, on the sidelines of a ceremony honouring a number of international officials in recognition of their contributions to the success of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 28), which ...

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• 23 May

  UAE President honours global dignitaries for contributions to success of COP28

  

  ABU DHABI/WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan today bestowed the First Class Order of Zayed II on several global dignitaries in recognition of their contributions to the success of the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) hosted by the UAE late last year. During the ceremony held in ...

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• 22 May

  Gold prices steady as focus turns to US Fed minutes

  

  WORLD CAPITALS/ WAM Gold prices were steady and hovered above key $2,400 level on Wednesday, while investors await minutes from the Federal Reserve’s latest policy meeting for fresh signals on the timing of US interest rate cuts, Reuters reported. Spot gold held its ground at $2,415.35 per ounce,. Bullion hit a record high of $2,449.89 on May 20. US gold ...

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• 22 May

  Global shares edge lower after Wall Street sets more records

  

  HONG KONG / WAM European stocks dropped in early trading and Asian markets were mostly lower on Wednesday after US stocks hit new record highs, Associated Press reported. The future for the Dow Jones Industrial Average and that for the S&P 500 both edged 0.1 percent lower. Britain’s FTSE 100 fell 0.5 percent to 8,377.95 after the Office for National ...

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• 22 May

  Dubai Chambers showcases emirate’s advantages in Rwanda

  

  DUBAI / WAM Dubai Chambers has successfully participated in the recently concluded Africa CEO Forum in Kigali, Rwanda, which attracted more than 2,500 attendees including African presidents, government officials, and CEOs of major international and African companies. The delegation was led by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, who took part in an interactive panel discussion. ...

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• 22 May

  UAE delegation takes part in 4th International Conference on Nuclear Security

  

  VIENNA / WAM The United Arab Emirates (UAE) is taking part in the fourth edition of the International Conference on Nuclear Security: Shaping the Future, which is organised by the International Atomic Energy Agency (IAEA) through May 24 in its headquarters in Vienna, Austria. It is being held in accordance with the resolution GC (66)/RES/7 adopted at the 66th General ...

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• 22 May

  Dubai South, Aldar to build facility for Kuehne+Nagel

  

  DUBAI / WAM Dubai South and Aldar Properties (Aldar) will develop a build-to-suit facility for Kuehne+Nagel, one of the world’s leading logistics providers, at EZDubai, the fully dedicated e-commerce hub in Dubai South. Located near and with direct access to Al Maktoum International Airport, as well as Jebel Ali port via a bounded logistics corridor, the logistics facility is being ...

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