February, 2019

• 13 February

  Tabreed signs first district cooling concession in India

  ABU DHABI / WAM The National Central Cooling Company, Tabreed, has entered into a 30 year concession for a contracted cooling capacity of 20,000 refrigeration tonnes (RTs) with Andhra Pradesh Capital Region Development Authority (APCRDA), to build, own, operate and transfer India’s first district cooling system in Amaravati – the new capital of Andhra Pradesh. This will be Tabreed’s first ...

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• 13 February

  Air Arabia records Q4 net profit of AED26mn

  

  Sharjah / WAM Air Arabia (PJSC) on Wednesday announced financial results for the fourth quarter (October to December) 2018, delivering a strong operational and financial performance. Air Arabia reported a net profit of AED 26 million for the fourth quarter 2018, in line with the strong net profit recorded in the same period last year. Turnover for the three months ...

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• 13 February

  Noor Bank posts AED676mn in profit for 2018

  Dubai / Emirates Business Noor Bank, a leading Shari’ah-compliant bank in the UAE, on Wednesday announced its year-end 2018 financial results. The bank delivered a strong performance with a net profit of AED 676 million prior to adjustments for property revaluations, amounting to a 74% improvement in underlying performance. Net profit after adjustments was AED601 million, representing a growth of ...

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• 13 February

  Abu Dhabi to host World Ocean Summit in March

  

  Abu Dhabi / Emirates Business Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the sixth edition of the World Ocean Summit will convene in Abu Dhabi next month. The summit will provide a forum for a global gathering of over 500 ...

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• 13 February

  ‘UAE a model for humanitarian outreach’

  

  Dubai / WAM Keïta Aminata Maïga, First Lady of Mali, said that the UAE has become a model of providing humanitarian assistance to all countries, with tolerance at the core of its altruistic work for 2019. She made the statement while visiting Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment. Saleh Zaher, Director of the Establishment, and Dr. Abdulaziz ...

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• 13 February

  Etihad Rail inks pact to set up railway logistics facility at ICAD

  

  Abu Dhabi / WAM Etihad Rail, the developer and operator of the UAE’s national railway network, has signed a Memorandum of Understanding (MoU) with ZonesCorp to establish railway and logistics facilities within the Industrial City of Abu Dhabi (ICAD). Etihad Rail’s logistic facility will complement the Higher Corporation’s Abu Dhabi Logistics City Development Project, covering an area of approximately 6 million ...

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• 13 February

  1,985 branches of foreign firms operate in Dubai

  

  DUBAI / WAM The number of branches of foreign companies operating in Dubai has increased to 1,985 while the number of branches of GCC companies is 833, according to a report by the Business Registration and Licensing (BRL), sector in the emirate’s Department of Economic Development (DED). “These figures reflect the attractiveness of the emirate globally as well as regionally, ...

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• 13 February

  ERC distributes 1,400 food baskets in Yemen’s Shabwa

  Abu Dhabi / WAM The Emirates Red Crescent (ERC), sent relief convoys to a number of Shabwa districts, Yemen, including 1,400 food baskets benefiting more than 8,120 low-income citizens as part of its humanitarian programme to help people who suffer from a difficult humanitarian situation. The distribution of food baskets targeted desert areas of Nisab and Usaylan districts in Shabwa, ...

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• 13 February

  Khalifa Fund signs MoU with UAE Central Bank

  

  Abu Dhabi / WAM The Khalifa Fund for Enterprise Development (KFED), signed a Memorandum of Understanding (MoU), with the Central Bank of the UAE which will enable the fund to employ the direct debit system of the Central Bank and receive payment from its’ entrepreneurs directly from their accounts in any bank which operates within the UAE. The agreement was signed by ...

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• 13 February

  Chevron CEO says Texas shale is forcing cutbacks across energy

  

  Bloomberg For Mike Wirth, the future of Big Oil lies at home, under the dusty fields of West Texas. As he celebrates his first year as chief executive of Chevron Corp., Wirth sees the Permian Basin as a plentiful source of high-quality crude for years to come, but that’s not all. The low break-even costs to pump in the Permian ...

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