February, 2019

• 19 February

  EDCC inks pacts with European councils

  ABU DHABI / WAM The Emirates Defense Companies Council (EDCC), an initiative of Tawazun Economic Council (Tawazun), signs three new agreements with global councils and organisations during Idex 2019. The agreements aim to develop the defence and security sectors in various countries involved and states that each of these parties will support one another and commit to knowledge transfer; offering ...

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• 19 February

  Mohamed meets delegations, defence ministers at Idex

  

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, met a number of delegations and defence ministers who are visiting the country to participate in Idex 2019 being organised at Adnec. His Highness Sheikh Mohamed bin Zayed met, separately, with Ibrahim Kasuri Fofana, ...

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• 19 February

  Tawazun unit, Halcon sign AED193 million funding deal

  

  ABU DHABI / WAM The Defense and Security Development Fund of Tawazun Economic Council signed a funding agreement reaching the potential total of AED 193 million with Halcon Systems LLC, a company owned by the Abu Dhabi-based Yas Holding Group. The agreement was signed during Idex 2019 by Abdulla Al Huwar, Strategic Technology Investments Director at Defense and Security Development ...

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• 19 February

  ADFD earmarks AED44 million to support Palestinians

  

  Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, allocated a grant of AED44 million ($12 million) to Jerusalem Council for Development and Economic Growth in support of civil and community programmes and activities in East Jerusalem. His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, and His Excellency ...

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• 19 February

  Dubai records realty deals at ‘world-record speed

  Dubai / WAM The Dubai Land Department (DLD), announced launch of the Smart Audit initiative that allows completion of real estate transactions on the same day. This comes as part of its tireless efforts to develop and formulate modern 10X initiatives that guarantee the smooth provision of services to its customers, ensuring their comfort. During the first week of the ...

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• 19 February

  Adnoc now best-rated oil and gas firm globally

  

  Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday that Fitch Ratings, Fitch, has assigned Adnoc Group a standalone credit rating of AA+. The rating, according to Fitch, highlights the company’s high upstream output and significant reserves, strong profitability, commercially-focused business model, downstream integration and conservative financial profile. The rating, Fitch said, sits at the ...

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• 19 February

  Deal 2019 to feature USA pavilion for first time in 25 year history

  

  Dubai / WAM The Dubai Entertainment, Amusement and Leisure Show (DEAL 2019), will feature a USA pavilion for the first time in its 25-year history. With 25 American organisations choosing to participate in the largest entertainment and amusement industry event in the Middle East, the show organisers have earmarked a prominent location for the exhibitors. Apart from China, the US ...

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• 19 February

  China relaxes solar subsidy policy

  

  Bloomberg Chinese regulators have proposed easing a major solar power subsidy policy announced last year, according to the nation’s main industry group, a move which would partially reverse rules that undercut demand in the world’s biggest user and shook the global market. Policy makers are starting approvals again for utility-scale, ground-mounted projects that receive subsidies, which were halted in June ...

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• 19 February

  Tesla batteries in short supply for solar installers

  Bloomberg There’s plenty of demand for Tesla Inc.’s Powerwall home-battery systems. The trick is finding installers that have them. Only 12 percent of US companies that install solar panels and residential batteries carry the Powerwall, a study on Tuesday from Boston-based EnergySage and the North American Board of Certified Energy Practitioners found. Meanwhile, about 55 percent of customers shopping for ...

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• 19 February

  Oilfield in Western China could trigger shale drilling surge

  Bloomberg An oil discovery in a remote corner of northwestern China could trigger a surge in shale drilling, benefiting service companies and providing a needed output boost for the world’s biggest importer, according to analysts at Morgan Stanley. PetroChina Co. has achieved daily output of 100 tons of oil (733 barrels) at a test well in the Jimsar field in ...

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