July, 2023

• 26 July

  NMDC doubles first half net profit to AED881m

  

  ABU DHABI / WAM National Marine Dredging Group has announced a significant surge in its net profit during the first half of 2023, reaching AED 881 million. This remarkable achievement reflects the success of the group’s geographic expansion strategy and the successful execution of major projects. The first half year results demonstrate record-breaking numbers and substantial growth in both revenue ...

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• 26 July

  UAE’s Masdar joins Iberdrola to co-invest in Baltic Eagle wind farm

  

  MADRID / WAM Masdar has signed a strategic agreement with Iberdrola, a global clean energy leader, to co-invest in the 476-megawatt (MW) Baltic Eagle offshore wind farm in the German Baltic Sea. Iberdrola will retain a majority 51% stake in the asset, which will help to accelerate green energy security in Europe. According to the deal terms, Baltic Eagle wind ...

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• 26 July

  UAE leaders wish President of Maldives on Independence Day

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Ibrahim Mohamed Solih, President of the Maldives, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh ...

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• 26 July

  Over 9 million visitors to UAE’s Government Unified Digital Platform ‘U.AE’ in H1 2023

  

  ABU DHABI / WAM The Telecommunications and Digital Government Regulatory Authority (TDRA) announced that 9.1 million people visited the UAE’s Government Unified Digital Platform “U.AE” from the beginning of 2023 until the end of June, reaching 14 million visits. The semi-annual increase in the average number of pages viewed was 3.52 percent, compared to the same period last year, reflecting ...

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• 26 July

  Stocks feel heat from earnings, Federal Reserve’s rates outlook

  

  BLOOMBERG Global equities struggled on Wednesday as investors braced for more policy-tightening from the Federal Reserve, even as results from some of the biggest European and American companies hinted at a softening economy. The European benchmark fell, snapping six days of gains. LVMH slumped as much as 4.5%, dragging the luxury-goods sector lower, after Europe’s biggest company provided further evidence ...

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• 26 July

  China’s fragile stocks show Beijing needs to act fast on pledges

  

  BLOOMBERG Chinese stocks resumed declines on Wednesday, underscoring the need for authorities to act quickly for the market to sustain the sharp rebound seen after policymakers’ latest pledges to revive the economy. The Hang Seng China Enterprises Index, which tracks major Chinese companies listed in Hong Kong, dropped 0.8% after surging 5.3% in the previous session. A Bloomberg Intelligence gauge ...

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• 26 July

  Hamdan bin Mohammed issues Resolution on Board of Knowledge Fund Establishment

  

  DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has issued Executive Council Resolution No (55) of 2023 on the Board of Directors of the Knowledge Fund Establishment. Ahmad Abdul Kareem Julfar will chair the Board while Mohammed Abdullah Al Shaibani will serve as the Vice ...

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• 26 July

  Dubai chamber promotes local businesses with Global Expansion Series

  

  DUBAI / WAM Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has launched the Global Expansion Series to help local businesses grow internationally. Designed to support the objectives of the Dubai Global initiative, the events will create a dedicated support channel for business matching, provide timely intelligence on market opportunities and accessibility, and assist companies in ...

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• 26 July

  ADCP announces strategic pact with AP Moller Capital

  

  ABU DHABI / WAM Abu Dhabi Catalyst Partners (ADCP), a joint venture between Mubadala Capital and Alpha Wave Global, to support the development of Abu Dhabi Global Market (ADGM), on Wednesday announced its partnership with AP Moller Capital P/S, a value-add infrastructure fund manager focused on high growth markets, and part of the AP Moller Group. This new investment in ...

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• 26 July

  Jebel Ali Port welcomes Hapag-Lloyd’s ultra-large containership

  

  DUBAI / WAM DP World’s flagship, Jebel Ali Port welcomed Hapag-Lloyd’s Berlin Express ultra-large dual-fuel container ship on its maiden voyage, reinforcing its commitment to innovation and sustainability in the shipping industry. The Berlin Express is a state-of-the-art vessel with a capacity of 23,600 TEU. It is the first of 12 dual-fuel vessels ordered by the shipping line which will ...

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